Wells Fargo was accused of making misleading statements about its compliance with federal consent orders following the 2016 scandal involving the opening of unauthorized customer accounts.

Advisors on the Envestnet platform use allocation models, company executives say. Building ETFs that combine passive investments with active management for those models is the next logical step.

Phillip Galles, 57, was charged with a single count of wire fraud for allegedly stealing more than $2 million from victims whose money he falsely claimed he was investing in commodity futures.

Also, TIFIN Wealth will offer free access to its platform to NAPFA-aligned advisors and Canadian firms Conquest Planning and Wealthsimple have announced a partnership.

At least eight deals were announced in the RIA space this week, along with five key hires.

Stratos has taken a majority stake in one of its existing firms, San Diego-based BWM Financial, to seed the new division. Stratos Private Wealth will provide a branded, single experience for UHNW and HNW clients.

The transaction means immediate financial relief, allowing CI Financial to pay down some of the debt it accumulated when it acquired dozens of wealth management offices across the US.