A federal court in Massachusetts has granted partial summary judgment in favor of the Securities and Exchange Commission in its action against Navellier & Associates Inc., a Nevada-based investment advisory firm, and its founder and chief investment officer, Louis Navellier of Florida.
The SEC’s complaint alleges that the defendants breached their fiduciary duties and defrauded their clients and prospective clients through the use of marketing materials that included false and misleading statements regarding the performance of the firm’s Vireo AlphaSector investment strategies.
The court also found that the defendants continued to sell the Vireo AlphaSector investment strategies despite their knowledge that representations about the strategies were false and misleading.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Wellington explores how multi strategy hedge funds may enhance diversification
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
