Regulators Widen Probe of Schorsch-Related Issues, Companies
Massachusetts authorities want to better understand accounting errors at the nontraded REIT firms.
RIA, Dually Registered Assets To Reach 28% Market Share By 2018
New research from Cerulli Associates shows that independent RIAs experienced the strongest growth among the independent channels in 2013, increasing 17.1% to $1.67 trillion in total assets.
Schorsch Denies ARCP Book-Cooking Allegations
The charges were raised by the firm’s former chief accounting officer in a lawsuit.
Robo-Advisors Will Offer More Opportunities Than Threats to Advisors
As robo-advisors continue to attract clients’ assets and venture capitalists’ dollars, some advisors may wonder if they’re a threat to their business.
Gridlock Likely in New Congress as Fiduciary Regs Hang in Balance
The list of regulations and legislation that the advisory industry will be watching — and lobbying to influence — in the new year is long.
Schorsch Accused of Manipulating ARCP’s Books
A complaint filed by former accounting chief alleges that Schorsch told executives to manipulate quarterly results in July.
Raymond James Adds 2 Ex-Wells Fargo Teams
This news follows the successful recruiting of groups from Merrill Lynch, JPMorgan and Stifel Nicholaus.
SEC Chief White Pushes Back on Advisor Audits
White tells Financial Services Committee that a reallocation of resources from BD coverage to advisors would ‘not be advisable.’
Enforcement: Nationwide to Pay $140M in 13-Year ERISA Settlement
In another action, the SEC charged the owner of a home restoration business with securities fraud for selling unsecured notes to investors.
Fidelity Finds RIAs Seriously Lag in Marketing, Business Development
The 2014 Fidelity RIA Benchmarking Study shows that many RIA firms need to address marketing and business development strategically.