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Independent advisors are gaining ground on their bank-based peers when it comes to loans and cash management tools, improving the client relationship—and keeping those assets closer to home.
A federal judge also granted an SEC injunction against David Hu, former CIO of International Investment Group, whose schemes lost $100 million in investors' funds, according to the DOJ.
Cetera's acquisition of Voya's financial planning channel is expected to moderately increase the firm’s leverage, but not enough to change S&P Global Ratings' credit outlook.
The DOJ and SEC filed parallel actions against Isaiah Goodman, arguing he used investors' funds for personal expenses and made "Ponzi-like payments" to new investors.
DeLynn Zell left the brokerage world in 2008 to launch an RIA that has grown 17% year over year to $2 billion in AUM. "we could sell this firm by Friday," she jokes, but she and her team want to build a legacy business for the next-generation of...