FINRA, SEC Wallop UBS Puerto Rico With $33.5M in Penalties Over Closed-End Funds
Company failed to ensure suitability for clients of Puerto Rican CEFs that were highly invested in Puerto Rican municipal bonds; branch manager and rep charged.
Raymond James Picks Up $1.3M Rep From UBS
Also, Stratos Wealth added two advisors near Columbus, Ohio.
SEC Sanctions Schwab, TD Ameritrade, 11 Others on Puerto Rican Junk Bond Sales
The SEC Monday sanctioned 13 firms under MSRB's minimum investment rule intended to keep retail investors out of higher-risk offerings.
Innovative Solutions to the Retirement Income Challenge
A panel on the second and final day of the Insured Retirement Institute Vision Annual Meeting in September shined plenty of light on the issue of retirement income innovation—both the need for same and what the innovations might include.
LPL Adds $1.2B Team; Wells Fargo Recruits $1.4B Reps
Also, Washington Wealth brings in group from RBC with $830 million in assets, as Morgan Stanley's Graystone attracts Merrill institutional team.
Wealth Firms Adding Indie, Wirehouse Reps
A number of successful advisors are switching channels and broker-dealers at a quick pace in midsummer.
Wells Fargo Grabs 8 Advisors With $1 Billion in Assets
Meanwhile, RIAs affiliated with Focus Financial and LPL add reps.
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.
Leveraged ETFs: What Brokers Don’t Know Could Cost Them
FINRA has ordered Stifel Nicolaus and Century Securities to pay more than $1 million combined for improper sales of leveraged and inverse ETFs.
A Broker Who Broke Bad
Serving nearly 400 days in federal prison wasn’t what Justin M. Paperny had in mind when he became a stockbroker fresh out of the University of Southern California, psychology degree in hand.