Economy

The firm credited keeping its offices open during COVID-19 as a major selling point as FAs industrywide kept making moves and repapering their clients.

The IBD completed a stellar recruiting year by adding a team led by a 30-year veteran advisor.

“The expectation of sustained volatility in the medium term has re-invigorated hedge fund appeal,” BlackRock and Juniper Place said in their report.

The firm’s use of third-party compliance vendors came under scrutiny after an ex-rep pleaded guilty to bilking clients out of $5 million.

The private equity-backed RIA agreed to purchase its first firm of the year after being one of the most active acquirers in 2020.

In the first wave of cases under the regulator’s self-reporting initiative, it garnered more than $2.7 million in payments of restitution plus interest.

SEC cases that go beyond faulting firms for their failure to disclose conflicts of interest have drawn pushback from the industry.

The biggest losses this year came from sectors that suffered the most in lockdown.

The wealth manager whose parent firm also owns an insurer and asset manager settled its third case involving the same time period.

The allegations involving 12b-1 fees, cash sweeps and commissions also include violations of best execution rules.