Franklin Templeton Investments agreed to pay $18 million to California for failing to disclose it paid brokers for shelf space, Bill Lockyer, the state's attorney general, announced. Of this money, $14 million will be reimbursed to investors, $2 million is for a civil penalty and $2 million is to reimburse Lockyer's office for the investigation. Franklin also agreed to fully inform investors about shelf-space deals going forward. Lockyer settled a similar case with PIMCO for $9 million in September. His investigation into American Funds is ongoing.
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A report by Advisor Growth Strategies delves into key concepts the dealmaking advisory firm says the industry doesn't discuss enough.
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Crafting financial plans can be challenging when your client has more than one life partner. Here's how advisors can best serve people in throuples, polycules and other types of relationships.
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A mother-to-be in Maine is expecting not only a baby but a generous gift from her father-in-law. How should she make the most of it?
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The $4.2 billion-asset MCU in New York is working with Ameriprise Financial Institutions Group to connect members with the firm's network of digital advisors and offer investment planning options alongside its traditional products.
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