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Affluent investors who have maxed out their retirement plan contributions hold target date funds in taxable brokerage accounts.
March 17
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The latest legal fight between the firms over departing brokers raises questions about the effectiveness of the Broker Protocol.
March 14
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Federal authorities say Raymond A. Erker ran a Ponzi scheme that defrauded 54 people, but he maintained he did nothing wrong while on the stand.
March 10
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Arbitrators granted the wirehouse damages for payment of a promissory note but slammed the conduct of a “management-level employee.”
March 10
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He says the industry has become much more diverse and supportive, but there’s still a long way to go.
March 9
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The SEC says Marguerite Cassandra Toroian waited to allocate stock purchases to herself, her family or clients once she knew if the purchases were winners or losers.
March 8
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Joseph Orazio DeGregorio convinced his victims to invest in promissory notes and companies that never even existed.
March 7
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A judge’s decision puts new pressure on the brokerage industry watchdog and the SEC.
March 3
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The firm and a former rep recommended a course of actions that helped the wirehouse and hurt the customer, according to the FINRA arbitration case.
March 2
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The grandsons lost a bid to force Beverley Schottenstein to negotiate a FINRA award in her favor.
February 28
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A former Chase bank-based financial advisor won the arbitration award as critics say giant brokerages abuse U5 termination disclosures.
February 15
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After two stints as a rep for Charles Schwab, Russell Joseph Mutter started a Ponzi scheme that ran for nearly a decade in his home county.
February 14
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About 20% of FINRA client arbitration awards are unpaid every year, but there are signs that the former First Standard clients could receive some restitution.
February 11
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The firm that helped dozens of practices go independent is using the tactic most often deployed by its previous main rivals.
February 10
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Rapidly growing multifamily office Cresset and similar firms have been adding advisors in droves even as wealth managers take them to court.
February 9
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Officials said when he could no longer keep his investment fraud running, Scott Nicholson admitted to his clients that their money was gone and their investment was worthless.
February 8
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R. David Yost and his soon-to-be-former son-in-law are slugging it out in court over allegations of tax evasion.
February 8
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Furman Alexander Ford, who once jumped his fence to avoid federal agents, will head back to trial in May for a separate criminal case involving Medicare fraud.
February 7 -
Jeffrey Santulan and his company, Safeguard Metals, are facing enforcement actions by the SEC, the Commodity Futures Trading Commission and 27 state securities regulators.
February 3
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The wirehouse and its attorney “manipulated the arbitrator selection process” and “introduced perjured testimony,” according to the ruling.
February 2
