SEC Enforcement: Fund Manager Bilked Clients to Fund Kids’ Clothing Stores, Tavern
In other SEC actions, a judge barred an investment manager for placing false ads in magazines and newsletters.
HighTower, Focus Add Wirehouse Advisors
Raymond James, Commonwealth and Wells Fargo also recruit reps from rivals.
Merrill Nabs 2 Advisors, Wells Adds 5
The new Merrill team has $3 billion in assets, while each of Wells Fargo’s latest recruits produces more than $1 million in yearly fees and commissions.
Alternative Access: A New Market for High-Demand Products
There's a lot of confusion these days about alternative investments.
Grieving Clients, Sensitive Advisors
Communication with the bereaved is an increasingly important advisory skill.
Jonathan Hoenig: Capitalist Pig, Ayn Rand Fan, Highly Successful Manager
The founder of Capitalistpig Hedge Fund says Social Security is immoral, advisors are too risk-averse and hedge funds are unfairly blamed.
SEC Weighs Requiring Brokers to Tell Where Trades Are Sent
The proposal is intended to address complaints that trade routing decisions sometimes are not in clients’ best interests.
OptionsXpress Sued by Life Settlements Group for Naked Short Selling
Life Partners says the options firm, now owned by Schwab, sold $5.5 million in counterfeit shares of its stock.
Vanguard Takes 90% of ETF Inflows in First Quarter
Vanguard added seven times more to ETFs in the first quarter than rest of the U.S. industry combined.
New Hire Roundup: Fidelity Charitable Names Danforth President
Also, Ron Carson was named to the board of trustees of the American College, and the Withers Consulting Group welcomed David Burleigh.