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.
Nine-month electronic trading freeze and share lending program at the center of dismissed claim.
Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.
With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.
Professional athletes are often targets of scam artists and are particularly vulnerable to fraud.
The brokerage giant tells Wall Street it will use artificial intelligence to reach clients it has never been able to serve — and turn the technology's perceived threat into a competitive edge.
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
