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Advisors with histories of serious misconduct who exit the brokerage industry often continue to provide advice under state insurance regulations and are likely to reoffend in the future, according to a recent Stanford Law study.
The wealth management Industry has a lot of work to do to reach the next generation of investors, Riskalyze adds to its C-suite and the first hedged single-stock ETF launches.
The brokerage’s head count dropped a slight 1%, primarily due to Steward Partners moving out of its b/d; the RIA continues to custody assets with Raymond James.
One securities attorney said the $2 million in fines was minimal considering the size of the firms, an indication that the SEC wants the industry to take the issue seriously.
Five years ago, Phil Fiore and his team left UBS to launch Procyon Partners and since have expanded services and are achieving extraordinary M&A success.
