An enforcement action from the Securities & Exchange Commission is a timely reminder to advisors to disclose any financial benefits their firm may receive from the broker-dealer it recommends to clients.

The SEC last month charged a Cincinnati advisory firm, Fry Hensley and Co., and its president, Nicholas Fry, with failing to disclose “significant conflicts of interest from which it profited at its clients expense” by way of payments from an unnamed Cincinnati broker-dealer who employed Fry’s wife, Jane, as a registered representative.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access