The Financial Industry Regulatory Authority Inc. has suspended former Waddell & Reed rep Spencer Sullivant for 18 months and fined him $5,000 for cheating on a Series 24 exam he took in August 2019.
Sullivant hid study materials for the test in his testing center's restroom, then visited the restroom during two unscheduled breaks from the test, Finra said in a letter of acceptance, waiver and consent. Sullivan had previously failed to pass the exam, which qualifies a registered representative to serve as a branch manager.
After working at Waddell & Reed from 2015 through 2017 and from 2018 to 2020, Sullivant left the firm and joined Edward Jones in February. He was discharged by Edward Jones in March when concerns arose relating to the Series 24 exam. He is no longer employed in the securities industry.
The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.
RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.
UBS has a history of costly litigation stemming from the sale of volatile investment products.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
