Robert Shapiro received the maximum sentence for running a scheme that caused more than 7,000 retirees and other investors to lose money.

The amended complaint follows an action filed in Denver in late August, charging Cetera with breaking its fiduciary duty to clients.

A new report by the arbitration attorneys’ group points to continued abuses of FINRA’s expungement process; the group calls for an independent investigation into the latest issues.

Other customers are also evaluating relationships with Fisher.

Discount brokerage firms are cracking down on their own advisors who have jumped ship for other firms or independence.

In a letter to staff, Ken Fisher apologized and said he understood that his comments reflected poorly on him and the firm.

Allegedly, James Heafner of Taylor Capital Management invested funds from five retirees with a company charged by the SEC with defrauding thousands of investors.

Advisor Legacy hopes to fill the gap between practice-listing marketplaces and in-house succession-planning departments at broker/dealers and custodians.