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The advisor allegedly solicited and received loans totaling $56,000 from two customers in violation of the firms' policies.
Third-quarter sales of annuities receded to $56.9 billion, down 5% from the previous quarter and 1% from the same period last year.
Mark Evans will provide investment advice to clients of Ascent Private Capital Management. He is the second managing director of investments to join Ascent's Minneapolis office.
The rep was expelled for allegedly cashing a $12,000 third-party check that was later found to have been stolen and the payee's endorsement forged.
The 6,800-plus-square-foot office in Silicon Valley will allow the firm to serve its growing client base in the area, while also being near one of the country's top technology centers.
The broker involved in the dispute invested 40% of the clients' assets in short positions in U.S. Treasury bonds betting that interest rates and inflation would rise.
The SEC charged the firm with violating federal securities laws by providing unregistered cross-border brokerage and investment advisory services to U.S. clients.
The San Diego-based advisor allegedly participated in private securities transactions that resulted in two elderly investors losing more than $340,000.
Rather than relying entirely on themselves, self-directed investors are consulting more sources of investment information and advice, including real live advisors.
The unit is aggressively pursuing modest mass-affluent investors with less than $500,000 in investible assets and its effort appears to be paying off.
Bank and thrift holding companies generated record revenue from their wealth management businesses in the first half of 2014. Here are the top 10 banks whose wealth management programs grew the fastest during this period year-over-year.
In the first half of 2014, banks reeled in $71.2 billion in wealth management income, up 6.2% year-over-year.
Rising tax rates are one reason to rethink IRA accounts; plus Detroit's emergence from bankruptcy and a Social Security tip for people who remarry after 60.
Bank holding companies generated $3.07 billion in insurance brokerage fee income in the first half of 2014, down 8.9% year-over-year.
Female small business owners were more likely than men to view their financial advisors as important in managing, growing and protecting their assets.
Bank holding companies raked in $1.81 billion in annuity sales in the first half of 2014, up 11.5% year-over-year.
Its mass-affluent offering has attracted thousands of clients, 70% of which came from outside the bank.
In its latest organizational move, the firm hired a former Merrill Lynch banking executive to lead the growth of the wealth management business in Florida.
Looking for highly-rated U.S. equity mutual funds that don't rip you off in fees? Here are 10 good bargains, according to data on Morningstar.com.
Older middle-class Americans in their 50s are more likely to lack confidence in their retirement preparedness, with almost half fearing they haven't saved enough.