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Wells Fargo Advisors Tightens Rules on FiNet Advisors' Outside Investments

December 16th, 2024 at 11:22 AM
Wells Fargo Advisors has introduced a new policy requiring advisors in its Financial Network (FiNet) channel to seek company approval before accepting certain outside investments. 
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Merrill Lynch Advisor Penalized for CFP Exam Misconduct

December 13th, 2024 at 9:15 AM
Jeffrey Dattilo, a former Merrill Lynch advisor, has agreed to regulatory penalties for allegedly providing improper assistance to others taking the Certified Financial Planner (CFP) exam.
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Paychex Securities Advisor Penalized for Undisclosed Referral Agreement with RIA

December 13th, 2024 at 8:59 AM
A former advisor has agreed to a $7,500 fine and a six-month suspension following allegations of failing to disclose a referral agreement with an outside registered investment advisory (RIA) firm.
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Brokerage Firms Shift Away from Centralized Portfolio Management as Advisor Autonomy Grows

December 11th, 2024 at 11:03 AM
After years of promoting centralized portfolio management, brokerage firms are increasingly supporting advisors who prefer more control over investment decisions, according to AdvisorHub. 
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Former Wells Fargo Advisor Pleads Guilty to $3 Million Fraud Scheme

December 10th, 2024 at 11:18 AM
A former Wells Fargo advisor, Kenneth A. Welsh, has pleaded guilty to charges of wire fraud and investment advisor fraud after stealing over $3 million from his clients, according to WealthManagement.
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Court Dismisses Whistleblower Lawsuit Against Fidelity Investments

December 9th, 2024 at 11:14 AM
A federal court has dismissed a whistleblower lawsuit filed by a former financial advisor against Fidelity Investments. According to ThinkAdvisor, the case involves allegations that the company fired him for reporting unethical practices.
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Former Tesla and Lyft Executive Launches ETF Firm

December 6th, 2024 at 1:22 PM
Jon McNeill, a former executive at Tesla and Lyft and co-founder of venture firm DVx Ventures, has partnered with ETF pioneer Adam Patti to launch VistaShares, an asset management firm specializing in ETFs centered on artificial intelligence and electrification.
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SEC Charges Boca Raton Advisor with $2.1 Million Fraud Scheme

December 5th, 2024 at 3:58 PM
The U.S. Securities and Exchange Commission (SEC) has charged David Kushner, a Boca Raton, Florida resident, and his company, La Mancha Funding Corp., with defrauding nearly two dozen investors out of approximately $2.1 million.
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Wells Fargo Advisors Ordered to Pay $500,000 for Misuse of Former Advisor's Name

December 4th, 2024 at 3:55 PM
Wells Fargo Advisors must pay nearly $500,000 in damages to Nicholas Takahashi, for allegedly using his name on their website long after he left for a competitor.
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Client Associates Sue Firms Over Discrimination and Wrongful Termination

December 3rd, 2024 at 2:30 PM
Three former client associates have accused major financial institutions—Charles Schwab, Morgan Stanley, and Ameriprise Financial—of wrongful termination.
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LATEST NEWS AND ARTICLES

May 13, 2025
Merrill's Investment Solutions Chief Outlines Growing Role for Alternatives in Client Portfolios

At Merrill and Bank of America Private Bank, alternative investments have become a core focus of portfolio construction, according to Financial Planning.

May 12, 2025
FINRA Clarifies Proposed Changes to Outside Activities Rule

FINRA released a statement this week addressing misconceptions surrounding its proposed updates to the rules governing outside business activities by associated persons of broker-dealers.

May 9, 2025
FINRA Suspends Former Wells Fargo Advisor Over Unauthorized Transfer in Elderly Client's Account

FINRA has fined and suspended former Wells Fargo financial advisor Jarrett Thomas after he executed a $50,000 transaction for an elderly client despite being informed that she was no longer capable of managing her finances.