The 'external system breach' put the Social Security numbers of 2,188 of the firm's clients at risk, according to the Maine Attorney General's office.
A Finra arbitration panel rules in favor of Erin Daly, who filed a federal complaint against Citigroup alleging gender discrimination.
According to the website Ponzitracker.com, the number of Ponzi schemes uncovered by authorities dropped 26% last year.
The regulator sanctioned the broker-dealer for violations related to its marketing of securities it had underwritten and failings related to sales of GPB private placements.
The deal for American Portfolios Financial Services Inc., a New York independent broker-dealer, brings Advisor Group 850 advisers who oversee close to $40 billion in client assets.
United Planners' Financial Services was negligent in 2018 when it failed to inform clients that GPB had missed a deadline for filing financial information, according to Finra.
Ten years ago, hiring financial advisers at wirehouses had a hammer and tongs feel. Today, hiring and hanging on to advisers are much more nuanced endeavors.
When wholesalers leave a broker-dealer en masse, it's a signal that the firm's efforts to sell more product and generate more revenue could be greatly hampered.
David Kowach is the second senior Wells Fargo executive with deep ties to wealth management to retire in the past two months.
Wells Fargo's IBD, FiNet, hasn't been 'a growth priority' for the wirehouse. Now it is. How has the strategy changed?
