The charges against Lina Maria Garcia followed previous ones filed in June against UCB Financial Advisers and her partner, Ramiro Jose Sugranes, for a scheme that allegedly cost clients $5 million.
A new alert from the commission’s Division of Examinations found that many RIAs are miscalculating fees and often overcharging clients, risking enforcement actions.
The firm announced that two new teams would join Raymond James in Georgia, while a financial advisory duo departed Merrill Lynch to join the company’s Fort Myers, Fla. office.
During a panel discussion on the new rule’s impact, one securities attorney said the DOL's interpretation on what recommendations fell under ERISA fiduciary scrutiny was “more expansive” than ever.
Scott E. Howell will join Gladstone Wealth Partners, a large enterprise of LPL Financial, and will start a new independent practice based out of its Chester, N.J., office.
The new location will be the firm’s first office outside of the Atlanta metropolitan area, and will be led by two new managing directors who previously managed more than $1.5 billion in assets.