Updated Thursday, April 17, 2014 as of 11:28 AM ET
SEC Charges RIA With Kickback Scheme
Three advisors at a San Diego-based RIA -- including one who apparently once worked for the FBI -- are now facing SEC charges for allegedly paying themselves concealed revenue sharing fees from investments they recommended to clients.
The SEC's Enforcement Division said Tuesday that Total Wealth Management, along with firm owner and CEO Jacob Cooper, entered into "undisclosed revenue-sharing agreements through which they paid themselves kickbacks or so-called 'revenue sharing fees.' "   more »
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Financial advisors to some of the wealthiest Americans see struggling Puerto Rico as an outlier in the $3.7 trillion local-debt market, leading them to add municipal bonds as the steepest federal tax rates in more than a decade loom. more »
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