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"A lot of advisors say they have a team," said Jeff Fishman, who heads JSF Financial in Los Angeles. "When you talk to them, you find out they have a bunch of people who came from wirehouses. We have a real team: people from different backgrounds who play different roles."

Total estimated inflows to long-term mutual funds were $6.12 billion for the week ended Wednesday, September 12, according to data from the Investment Company Institute.

The Financial Industry Regulatory Authority has ordered five firms to pay $137,500 in fines for violations of trade reporting and other municipal securities rules.

In an effort to bolster its recruiting with financial institution, Securities America announced Thursday it has hired William J. Lavender as regional director of financial institutions.

The agency is targeting Summit Wealth Management, a registered investment advisor, and Angelo Alleca, who is charged with defrauding investors in what the SEC describes as a scheme that sought to conceal losses from trades that went bad through the creation of new private funds that were used to repay the original investors.

The mass affluent represent an ample opportunity for retail banks if they can figure out how to reach them, a new report from HNW, Inc. finds.

For the week ended Sept. 12, investors pulled an estimated $2.75 billion from funds that invest long-term in U.S. stocks, marking the eighth consecutive week of outflows.

Total estimated inflows to long-term mutual funds were $6.12 billion for the week ended Wednesday, September 12, according to data from the Investment Company Institute.

Emerging market shop Mirae Asset Global Investments is shelving two funds from its Mirae Asset Discovery Funds trust, according to a Securities and Exchange Commission filing.

Emily Colella has joined Palmer Square Capital Management as a managing director, business development, Money Management Executive has learned.