Patrick Donachie

The Board cited growth in the numbers of female, Black and Hispanic CFPs, though these groups still represent small portions of the overall profession.

In some cases, applicants claimed they’d gained years of experience in just a few days, or that their annual incomes increased less than one day after a prior application had been denied.

The Massachusetts secretary of the commonwealth said the alleged actions by Vanguard and others left smaller investors vulnerable to increased risk and larger tax liabilities.

According to the commission’s complaint, Florida-based former advisor and broker German Nino made numerous unauthorized transfers, allegedly using the money to purchase gifts and to pay back a prior victim’s...

The commission will include five members who do not currently sit on the CFP Board’s Board of Directors, and its chair previously headed a task force that scrutinized the Board’s enforcement program.

The leading RIA’s acquisitions include its first office locations in Wisconsin and Tennessee. Beacon acquired 14 firms in 2021, compared with four deals the previous year.

Perry Santillo and co-conspirators defrauded approximately 1,000 investors out of more than $100 million, according to the Justice Department.

Hugh Lau is leaving D.A. Davidson to form Lau Financial Group under LPL’s affiliation model for breakaway advisors. In total, 19 teams have joined Strategic Wealth Services since it launched in April 2020.