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Wells Fargo Terminates Advisor Over $60 Personal Expense

December 3rd, 2024 at 9:07 AM
Wells Fargo Advisors recently terminated Charles J. Kraft, a 30-year industry veteran, over a $60 expense account infraction.
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Class Action Suits Target Major Banks Over Cash Sweep Programs

November 27th, 2024 at 1:04 PM
Wells Fargo, Merrill Lynch, and Morgan Stanley face class action lawsuits alleging they exploited cash sweep programs to generate “massive revenue” at clients' expense.
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Arizona Revokes Advisor's License for Misrepresenting High-Risk GPB Capital Investments

November 26th, 2024 at 10:21 AM
The Arizona Corporation Commission has revoked the license of Scottsdale-based investment advisor representative Luke M. Johnson, who sold over $10 million in high-risk private placements by GPB Capital Holdings. 
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Osaic Advisor Fined and Suspended for Submitting False Bank Statements

November 25th, 2024 at 2:13 PM
AdvisorHub recently reported that the Financial Industry Regulatory Authority (FINRA) has imposed a $5,000 fine and a two-month suspension on Kalomira Zangoulos, a former Osaic advisor in Sterling Heights, Michigan.
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B. Riley Sells Employee Wealth Management Group to Stifel

November 22nd, 2024 at 2:11 PM
B. Riley Financial Inc. has announced the sale of part of its employee wealth management division to Stifel Financial Corp. 
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SEC Fines New Jersey Brokerage and RIA Firms $240,000 for Impending Client Reporting

November 21st, 2024 at 1:17 PM
The Securities and Exchange Commission (SEC) has fined Nationwide Planning Associates, a New Jersey-based independent brokerage, and two affiliated registered investment advisory firms, NPA Asset Management and Blue Point Strategic Wealth, $240,000. 
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Hightower Drops Claims Against Former Advisor Amid Non-Compete Dispute

November 20th, 2024 at 3:58 PM
Hightower, a Chicago-based RIA firm, recently dropped its lawsuit against former advisor Lars Knudsen just days before a federal judge in Illinois was set to rule on the firm’s injunction request.
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Osaic Services Fined $250,000 for Supervisory Failures in Options Trading

November 19th, 2024 at 1:39 PM
Osaic Services, formerly SagePoint Financial, recently agreed to pay a $250,000 fine and accept censure for failures in supervising excessive and unsuitable options trading from June 2018 to August 2019.
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Wahed Invest Settles SEC Charges Over Undisclosed Endorsements and Ad Rule Violations

November 18th, 2024 at 3:47 PM
The SEC recently settled charges with Wahed Invest, a faith-based robo-advisor that markets itself to Muslim clients, over violations of the SEC’s marketing rule.
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FINRA Arbitrators Award Former RBC Advisor $9.7 Million in Gender and Age Discrimination Case

November 15th, 2024 at 2:20 PM
FINRA arbitrators recently awarded a former RBC Wealth Management advisor nearly $9.7 million in damages for age and gender discrimination claims. 
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TESTIMONIALS

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Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

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.