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Monthly Archives: August 2018

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Merrill Lynch Reverses Ban on Commission-Based Retirement Accounts

Merrill Lynch, the wealth management arm of Bank of America, is reversing its ban on commission-based products in customer retirement accounts following the death...

LPL Financial Adds Former First Allied Team to its Platform

LPL Financial LLC, the nation’s largest independent broker-dealer, has added Sackman & Son Financial Services to its broker-dealer and corporate registered investment advisory platforms....

Resource Apartment REIT III Completes Purchase of $33.8 Million North Carolina Property

Resource Apartment REIT III Inc., a publicly registered non-traded real estate investment trust, has completed the purchase of Matthews Reserve, a 212-unit multifamily community...

SEC Charges Advisory Firm and Principal with Fraud for Associating with Barred Adviser

The Securities and Exchange Commission has filed charges against a Buffalo, New York, investment advisory firm and its owner for misleading firm clients about...

Securities America Recruits $650 Million Super OSJ Hybrid from LPL Financial

Securities America, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE: LTS), has added Patriot Financial Group, an independent hybrid registered investment...

FINRA Bars Former PFS Investments Broker for Stealing $100,000 from Client

The Financial Industry Regulatory Authority has barred former PFS Investments broker Daniel Winger for stealing funds from an elderly client. Winger first entered the...

Lightstone REITs Appoint CFO and Treasurer

The boards of Lightstone Value Plus Real Estate Investment Trust V Inc., Lightstone Value Plus Real Estate Investment Trust III Inc., Lightstone Real Estate...

Cetera Launches Advisor Equity Participation Program, Succession Planning Funding Program

Cetera Financial Group, the second-largest independent financial advisor network in the nation by number of advisors, will be launching two new advisor initiatives: an...

AR Global’s Healthcare Trust Urges Investors to Reject MacKenzie Tender Offer

The board of Healthcare Trust Inc., a publicly registered non-traded real estate investment trust sponsored by AR Global, is urging shareholders to reject an...

Transamerica Entities to Pay $97 Million to Investors Over QI Model Errors

The Securities and Exchange Commission has charged four Transamerica entities for misconduct involving faulty investment models and ordered the entities to refund $97 million...

Phillips Edison Sets Date for REIT Merger Vote

Shareholders of Phillips Edison & Company Inc. (PECO) and Phillips Edison Grocery Center REIT II Inc. will soon vote on the proposed merger that...

Founders Financial Adds Sustainable Investment Offerings to Platform

Founders Financial Securities LLC, a registered investment advisor and independent broker-dealer, has added internally managed, sustainable investing strategies to its platform.The portfolio includes equity...

ARC New York City REIT Reactivates Share Repurchase Program

American Realty Capital New York City REIT Inc., a publicly registered non-traded real estate investment trust sponsored by AR Global, has reactivated its share...

Inland Private Completes Final Mariano’s Fresh Market Sale with 9.5% Annualized Return

Inland Private Capital Corporation, a sponsor of 1031 tax deferred exchanges, has sold Mariano’s Fresh Market in Arlington Heights, Illinois for $25.5 million on...

Michael Podboy Resigns from InvenTrust

InvenTrust Properties Corp, a publicly registered non-traded real estate investment trust, announced that Michael Podboy plans to resign as executive vice president, chief financial...

LCM Investment Management Appoints Destra Capital as Sub-Distributor for Interval Fund

Multi-Strategy Growth & Income Fund (MSFDX/MSFYX/MCFDX/MSFIX), a closed-end interval fund advised by LCM Investment Management LLC, has appointed broker-dealer Destra Capital Investments LLC as...

Weil Named CEO of Two AR Global REITs

The boards of American Realty Capital Healthcare Trust III Inc. and Healthcare Trust Inc., two publicly registered non-traded REITs sponsored by AR Global, have...

Cottonwood Multifamily REIT II Fully Subscribes Regulation A+ REIT Offering

Cottonwood Multifamily REIT II Inc., a Regulation A+ real estate investment trust, has fully subscribed its $50 million offering with no upfront fees.“We are...

Megatel Homes Expands Texas Townhome Development Project with 100-Lot Purchase

Megatel Homes, a Texas-based homebuilder that funds its developments through private placements offered by its subsidiary Megatel Capital Investment (MCI), has purchased 100 finished...

Cole Office & Industrial REIT Extends Offering Close Date

The board of Cole Office & Industrial REIT (CCIT III), a publicly registered non-traded real estate investment trust, has extended the close date of...