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The deal also brings $4 billion in client assets under administration and management, according to a spokeswoman.

The broker was reprimanded for lying on a customer's behalf.

Eric Clarke is CEO and founder of Orion Advisor Services.

"We've got great momentum," says Wells Fargo Advisors Financial Network president Kent Christian.

Michael Donnelly was sentenced for defrauding elderly clients of about $2 million, which he used to make car payments, pay his children's private school tuition and other expenses.

Edward Jones and Raymond James, among others, are steering clear.

Ric Edelman founded the nation's largest financial planning firm, which manages $350 billion for 1.4 million families across the United States.

He is founder of the Digital Assets Council of Financial Professionals and "The Truth About Your Future." 
He is the No. 1 bestselling author of 14 books on personal finance. At Rowan University, he is founding head of the School of Financial Planning.

Why would anyone spend $24 million to buy a 1% stake in the Yankees? For wealthy sports fans, it's cool — and can be one heck of a tax shelter.