Bluespring Wealth Partners has announced the acquisition of $800 million AUM RIA Beacon Financial Group of Texas.

Current private equity owner Genstar will still own a stake in the RIA firm.

Other states may follow its lead.

FINRA claims the firm was late an average two years in disclosing 89 internal reviews or allegations of misconduct over a six-year period.

The gala, held at the Ziegfeld Ballroom in Manhattan, included new categories honoring CMOs at asset managers and broker/dealers, as well as more awards focused on fintech.

Last year, 17% of state actions against firms involved RIAs, more than any other registered category of firms, according to NASAA.

Registered investment advisors added nearly 30,000 nonclerical employees in the last year, up 16% over the past five years.

Robert Paolini of Paolini Advisors will align with Independent Advisor Alliance, and joins LPL Financial from FSC Securities.

The move brings the company one step closer to introducing semi-transparent active ETFs.

The man continued to sell annuity contracts, even though he was no longer licensed to sell insurance or securities, according to allegations by the Massachusetts Secretary of the Commonwealth.