Broker-dealers are particularly interest rate sensitive companies.
The advisor "converted approximately $9,000 of chapter funds for his personal use," according to Finra.
It's unusual for brokerage chiefs or senior officers to admit any shortcomings in their operations.
It's not clear why Jen Roche left Osaic.
The activity at Osaic comes as the wealth management market waits to see if an IPO is in the firm's future.
Meanwhile, Wells Fargo is attempting to close the books on the SEC's investigation.
GPB clients needed "that 8% to live and buy medicine," says one industry executive.
"This is a standard business practice: firms have to tidy up their books before a merger," says one industry executive.
Jury finds Gentile and Schneider guilty on a total of eight counts after seven-week trial.
“She probably ruined a lot of lives," said one attorney. "I’m not crying for her.”
