See the latest on the Wealth Management Industry including M&A activity, diversity and inclusion and RIA updates.
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Edward Jones has traditionally measured its growth by the number of advisors on its platform; now it wants to focus more on growing clients’ assets by expanding its services.
The SEC alleged that by putting investors in higher-cost share classes, for which it was compensated, Cetera’s corporate RIA received about $5 million more in 12b-1 fees than if it had put clients in lower-fee share classes.
The regulator says Cambridge Capital Group Advisors defrauded 20 investors, most of whom were retired NFL players who claimed brain injuries from concussions suffered while playing professional football.