Gentile was found guilty of five counts, including securities fraud, wire fraud and conspiracy. He faces up to 20 years in prison.
Interval funds are being pitched to registered investment advisors as an easy-to-sell entry into direct lending.
The finding is part of a broader Cerulli report examining the opportunities and challenges surrounding the use of alternative investments in the retail channel.
The LPL suit is similar to a class action complaint filed last month claiming the firm violated its duties to clients by allegedly making huge profits from the interest rates on cash sweep accounts.
Brown is launching Boston XChange, a nonprofit organization that plans to build generational wealth and cultural innovation in Black and Brown communities.
CAIS founder Matt Brown details how the firm uses technology to make alternative investments more accessible to the masses.
Advisor Lock Bingham has created Bingham Private Wealth, an RIA in San Francisco.
