Patrick Donachie

The investigation, which spanned four years and involved 14 state regulators, revolved around how the firm supervised the transferring of brokerage account assets into advisory accounts.

The Financial Services Institute also brought on four new board members, including Commonwealth Chief Regulatory Affairs Officer Robert Molinari and Broadridge Financial Solutions President Chris Perry.

Hillguard Wealth Management will join Sanctuary Global and work out of the firm’s Miami office. Sanctuary President Vince Fertitta said there was a demand for an alternative to “the way most banks and wirehouses”...

Mark Sullivan manages $800 million in client assets and is joining Procyon, while St. Petersburg, Fla.-based advisor Mary Lauritano (managing about $525 million in assets) is joining Raymond James’ employee advisor...

The firm has offices in Cedar Rapids and a second location in Las Vegas. The firm’s head said the decision was “our way of ensuring our legacy.”

The deal to acquire Zimmerman Investment Management & Planning is Georgia-based Merit’s third deal in recent weeks.

Marc Turansky is starting in the newly-created role of head of investment advisory programs as of Monday, according to Keith Glenfield, head of investment solutions.

Cardinal Point Capital Management joined Focus in 2021, specializing in “cross-border wealth management.” Focus CEO Michael Nathanson said the firm would lead Focus’ “consolidation and expansion efforts in Canada.”