SEC Charges Hedge Fund Manager in Scheme Involving Terminally Ill
Donald Lathen allegedly paid 60 patients $10,000 each to use their names on accounts, redeeming their investments after they died.
Top Portfolio Products: Nuveen Launches Alternative Investment Platform
The platform, using technology from Artivest, lets advisors allocate alternative investments across client portfolios and monitor their performance.
Raymond James Completes Rollout of Mobile Platform
The firm also has introduced document sharing technology to its roughly 6,800 financial advisors.
Morningstar to Help BDs Manage Small 401(k)s
Morningstar Plan Advantage will let broker-dealers offload the fiduciary responsibility of managing defined contribution retirement plans.
Lebenthal to Exit Wealth, RIA Business
The closing follows the departure of YorkBridge Wealth Partners, a group with $750 million in assets that moved to Dynasty.
Recruiting Roundup: Raymond James, Cetera Add Groups
Meanwhile, two RIAs merge to form group with $13 billion in client assets.
Cetera BD Adds President for Robo-Push
As president of Cetera Financial Institutions, LeAnn Rummel will be in charge of efforts to offer robo-advice to banks and credit unions.
FINRA Floats Rule Changes on Gifts, Noncash Comp
The proposed changes "make sense" as some of the current rules, especially on business entertainment, are "too subjective," Cipperman Compliance Services says.
Stifel’s Profits Crash in Q2 Despite Wealth Growth; Ladenburg Results Weaken
Stifel Financial is getting rid of the indie reps it bought from Sterne Agee, but holding on to the ex-Barclays reps.
Top Portfolio Products: New Bond, Macro and Real Estate Funds
The new fund sponsors are American Funds, Franklin Templeton with K2 and CAPFUNDR with Hamilton Real Estate Capital.