A decade-long market of ever-rising asset prices has led many to overlook the need to formalize business development. In a more-challenging growth environment, as much as 5% of revenue should be spent on marketing and sales, according to speakers...

Phillip Galles, 57, was charged with a single count of wire fraud for allegedly stealing more than $2 million from victims whose money he falsely claimed he was investing in commodity futures.

This series discusses the new business models that have emerged to support independent financial advisors.

HSBC and Scotia will pay $15 million and $7.5 million, respectively, and acknowledge their supervision failures violated record-keeping rules, while the SEC said the case was a reminder for firms to self-report disclosure lapses.