See the latest on the Wealth Management Industry including M&A activity, diversity and inclusion and RIA updates.
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Allianz's guilty plea in the case was unusual. Most companies resolve government investigations by paying money and pledging corrective actions without admitting any wrongdoing.
Carolyn Armitage, who ran Thrivent's independent advisor platform, was laid off, in addition to four other executives on her team. The firm is also halting recruiting new advisors to its RIA.
While scams like email impersonation and phishing are nothing new, generative AI has supercharged the risks by introducing new threats, including deepfakes and malicious chatbots.
David Geake solicited an elderly couple to pledge securities as collateral for a bank loan to support a startup the rep had invested in, but the couple allegedly lost their money when the company failed.