The Securities and Exchange Commission has barred a former Merrill Lynch broker in Chicago, alleging that he stole more than $1.7 million from at least three of his clients.
Marcus Boggs allegedly misappropriated his clients’ money by selling securities in their advisory accounts and then transferred the proceeds to his personal credit card account, according to the order. The SEC said Mr. Boggs was fired by the firm in December 2018 and barred by the Financial Industry Regulatory Authority Inc. in November 2019.
Additionally the SEC alleged that Mr. Boggs made more than 200 illegal transfers from clients’ accounts to pay for his credit card purchases.
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
