The Financial Industry Regulatory Authority must let the US Securities and Exchange Commission weigh in before it can cast out one of its members, a three-judge panel of the US Court of Appeals for the District of Columbia found.

Morningstar analysts attribute the outflows to high financing costs and a concern the companies included in these funds might be penalized for transitioning to new sources of energy faster than the rest of the world.

The $12.5 billion RIA adds locations in Annapolis and Stevensville, Md. with the acquisition of Bay Point Wealth.

Also, Betterment integrates with Daffy, d1g1t launches a UMA framework and Advisor CRM launches.

Mainstay Wealth Management, with over $850 million in AUM, was with Ameriprise Financial Services for 33 years and is now part of Steward’s legacy division.

Gensler’s term was set to expire in 2026, but he announced today that he will leave on Jan. 20, 2025. He called working with the commission’s staff “an honor of a lifetime.”

James Craven, head of national sales at the brokerage, will oversee advisor recruiting until a replacement for Brendan Krebs is named.

Kenneth Welsh pleaded to five wire fraud counts that carry a maximum penalty of 20 years in prison each.