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Massachusetts Finalizes State Fiduciary Rule

Secretary of the Commonwealth William Galvin has filed regulations to impose a fiduciary conduct standard in Massachusetts. The new regulations will go into effect...

SEC Obtains Judgment Against Former Adviser Charged with Defrauding Retirees

A federal district court in Massachusetts entered a final judgment against Richard Cody, a former investment adviser and broker representative who defrauded Massachusetts retirees. According...

LPL Recruits Credit Union Wealth Management Practice from Cetera

LPL Financial LLC, the nation’s largest independent broker-dealer, has added Tarik Eldin and Mike Hastings with SCU Investment Services at Sacramento Credit Union to...

Ladenburg Thalmann Completes Merger with Advisor Group

Ladenburg Thalmann Financial Services Inc., a financial services company, has completed its merger with Advisor Group Inc., one of the nation's largest networks of...

FINRA Bars Another Broker for Selling Woodbridge Ponzi Promissory Notes

The Financial Industry Regulatory Authority has barred Jeffrey Scott Nimmow for selling nearly $3.4 million in Woodbridge promissory notes to investors. In January 2019, a...

LPL Financial Recruits $650 Million Team from Cetera

LPL Financial LLC, the nation’s largest independent broker-dealer, has added Synergy Wealth Alliance, an office of supervisory jurisdiction led by chief executive officer and...

Former Wells Fargo/Morgan Stanley Broker Sentenced for Fake Investment Scheme

Elias Herbert Hafen, a former financial adviser at Wells Fargo and Morgan Stanley, has been sentenced to 30 months in prison after convincing retail...

Ladenburg Shareholders Approve Merger with Advisor Group

Shareholders of Ladenburg Thalmann Financial Services (NYSE: LTS), a publicly traded financial services firm, have approved the company’s proposed merger with Advisor Group, one...

LPL Financial Recruits Pair from Advisor Group with Combined $330 Million

LPL Financial LLC, the nation’s largest independent broker-dealer, has added financial advisors Craig Lewelling and Greg Krpalek to its broker-dealer and corporate registered investment...

SEC Charges Former Broker with Defrauding Retail Investors

The Securities and Exchange Commission has charged Edward Matthes, a former Wisconsin-based registered representative and investment adviser, with defrauding 26 of his mostly elderly...