The Securities and Exchange Commission has charged Fusion Analytics Investment Partners, a Coral Springs, Florida-based registered investment advisory firm managing $50 million, and Michael J. Conte, its chief executive, with breaches of fiduciary duty and fraud.
According to the SEC's complaint, Conte and his firm solicited retail investors and clients of the firm to purchase promissory notes issued by Fusion Holdings, the firm’s parent. The firm raised $1.4 million from 10 investors from 2010 to 2016 without disclosing material facts regarding the RIA firm’s declining financial condition.
The complaint further alleges that Conte made material representations to investors regarding the firm’s profitability and the safety and soundness of the promissory notes.
The SEC is seeking permanent injunctions and, on a joint-and-several basis, disgorgement with prejudgment interest and civil penalties against all defendants.
The new AI feature generates instant client portfolio talking points, slashing meeting prep time for advisors.
As Citizens expands its advisory footprint, the bank is also going after wealth trapped inside business ownership
The Forbes rankings are highly sought after by some advisors and firms for marketing purposes.
Meanwhile, an advisor tuck-in from Edward Jones expands Kestra's Washington, D.C.-area presence, and Janney deepens its Connecticut footprint with an experienced Wells Fargo advisor.
KFN Succession Center pairs advisors weighing retirement with buyers, as next-gen affordability keeps eroding industry-wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
