MAI, backed by Wealth Partners Capital Group, continues its acquisition spree with Cleveland, Ohio, firm Ownership Advisors.
Cambridge Investment Research, Securities America and J.W. Cole Financial failed to see the risk as reps sold options-laden 'short-vol' LJM Preservation and Growth Fund to investors, according to the regulator.
Advisory firms must make the choice to cultivate cultures that nurture diversity, equity, inclusion and belonging, and implement structures and systems to hold each other accountable, writes Lazetta Rainey Braxton.
Kingswood U.S. CEO Derek Bruton is leaving the firm in June.
The timeline for integration remains unchanged, but advisors may not retain the service teams they're used to.
Eddie Welch, who will take over the company's WM business, was the co-founder and CEO of Alabama-based RIA Welch Hornsby, which was added to Captrust last October.
The new 'hybrid firm' is the latest in the growing trend toward states opening up law firm ownership to nonlawyers.
Mary Trump sued in September claiming her aunt and two uncles conspired for decades to skim tens of millions of dollars off her inheritance after her father and then her grandfather died.