Faces both criminal and civil charges for allegedly funneling $500,000 of the $800,000 he allegedly scammed from investors to his brothers.
Claim alleges Fidelity 'wanted a piece of the action' when Financial Engines was hired to provide plan advice.
Schwab recently brought RIAs to Capitol Hill as part of the Investment Adviser Association's Lobbying Day to boost lawmakers' awareness of the profession.
Ameriprise Financial Services rep altered and backdated client notes, the regulator said.
The four large brokerages have emerged among the least affected by the heaviest regulation to hit the financial advice market in decades. <i><b>(More: <a href="//www.investmentnews.com/section/fiduciary-focus"" target=""_blank"" rel="noopener">The DOL fiduciary rule covered from every angle</a>)</b></i>
The board agreed to modest reforms to its arbitration system based on recommendations by a special task force set up to examine it.
The suits allege that money market funds were imprudent investment choices given that their returns were lower than stable value funds.
The legislation is based on a program in her home state of Maine, where 50 referrals have been made on suspected abuse within two years.
In the new DOL fiduciary landscape, B-Ds can no longer be dependent on commissions.
Agency concerned about brokers who sell out client positions at old firm to generate commissions at new firm. <b><i>(More: <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">The fiduciary rule covered from every angle</a>)</b></i>
Advisers need to know what to consider when determining if the annuities are in a client's best interest.
While Republicans had insisted they opposed the DOL rule because they wanted the SEC to act first, a discussion draft to overhaul Dodd-Frank has requirements that would delay SEC action further.
The firm, which did business as Avatar, moved clients into newly created, higher-priced mutual funds without disclosing it.
<i>Breakfast with Benjamin</i> Jean Walsh-Josephson is accused of taking more than $4 million from elderly clients.
Changing economy and job market stem from greater use of technology, he says.
Louis Martin Blazer III took about $2.35 million from five clients to invest in movie projects in Ponzi-like fashion.
According to an <i>InvestmentNews</i> roundtable, legal challenges by financial-industry interest groups may still be on the horizon for the DOL fiduciary rule.
Time to weigh the role technology will play in keeping advisory practices in compliance, as well as profitable
He allegedly met the customer at church and took $25,000 from her under false pretenses.
