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The Pacific Financial Group highlighted hypothetical performance in ads in a way that violated the commission’s marketing rule, according to a settlement order released Friday.
According to the firm’s two recent quarterly filings, Raymond James has reached “a settlement in principle” with the commission’s Enforcement Division, including a $50 million fine.
Don Bennyhoff, who was at Vanguard for nearly 23 years, hopes to differentiate his new firm by helping RIAs demonstrate their value beyond investment management.
In recent earnings calls, both alternative asset managers provided updates on their respective products as they plan to enter an increasingly crowded playing field.
