Wealth Management industry news covering the financial markets, trends and wealth professionals.
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Citizens is contacting wealth firms that look like a good fit and attempting to negotiate with their principals directly as a way of avoiding the bidding process.
Rick Ferri talks about his start in the industry, how his thinking has evolved around Wall Street and whether a fee structure that charges clients for investment advice based on AUM can exist in a fiduciary framework.
Daryl Bank was convicted for his role in a scheme that defrauded more than $25 million from over 300 victims, many of whom were elderly, according to the DOJ.
The settlements are the latest in a string of SEC enforcement actions for similar conduct, which one lawyer says is now 'low-hanging fruit' for the regulator.
