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SEC Charges Advisory Firm and Executives with $75 Million Fraud

The Securities and Exchange Commission has charged two North Carolina-based executives, Gregory E. Lindberg and Christopher Herwig, and their registered investment adviser, Standard Advisory...

Massachusetts Fines MassMutual Subsidiary $250,000 for Failing to Supervise Broker

The Massachusetts Securities Division has levied a $250,000 fine against MLS Investment Services LLC, a subsidiary of MassMutual, over the company’s failure to supervise...

SFA Partners Hires Director of Business Development

SFA Partners, a group of financial services firms, has hired Bryan Yvon as director of business development. In his new position, Yvon will focus...

Captrust to Buy $4 Billion Midwest RIA

Captrust Financial Advisors, an independent registered investment advisor, has purchased Frontier Wealth Management, an RIA with 46 employees and $4 billion in client assets. Frontier,...

Equitable Financial to Pay $50 Million to Settle SEC’s Fraud Charges

The Securities and Exchange Commission has charged Equitable Financial Life Insurance Company with fraud after the company allegedly provided account statements to roughly 1.4...

SFA Partners Names EVP and Chief Operating Officer

SFA Partners, a group of independent financial advisor businesses, has promoted Jamie Mackay to executive vice president and chief operating officer. In his new...

Annuities Trade Group Sues DOL Over Fiduciary Rule

The Federation of Americans for Consumer Choice Inc., a relatively new trade group that represents insurance agents and annuities sellers, has filed a lawsuit...

Financial Services Institute Names 2022 Board and Executive Committee Members

The Financial Services Institute, a trade group representing independent financial advisors and independent financial services firms, has named four new directors to its board...

Protective Life to Combine Insurance and Financial Planning Affiliates into Single...

Protective Life Corporation plans to combine its insurance and financial planning affiliates into a single organization dubbed Concourse Financial Group. Concourse is expected to launch...

FSI Challenges DOL Independent Contractor Rule Withdrawal

The Financial Services Institute, a trade group representing independent financial advisors and independent financial services firms, has joined in filing an amended complaint against...

FSI Launches Health Insurance Program for Financial Advisors

The Financial Services Institute (FSI), a trade group representing independent financial advisors and independent financial services firms, has launched a health insurance program for...

Arete Wealth Completes Acquisition of Center Street Securities

Arete Wealth, an independent broker-dealer, registered investment advisor, and insurance firm, has completed its acquisition of Center Street Securities, a Nashville-based securities broker-dealer and...

NexPoint Securities Hires Industry Vet to Lead Annuity Product Distribution

NexPoint Securities Inc., a registered broker- dealer that serves as the distributor for investment products on the NexPoint platform, has hired Brian Graime as...

SFA Partners Adds Four Wealth Management Firms to Platform

SFA Partners, a group of independent advisor-focused entities, has recruited four wealth management firms: Kolinsky Wealth Management, Lehner Carroll Shope Capital Management, OakPoint Investment...

Docupace Sells Majority Stake to Private Equity Firm, Appoints New CEO

Docupace, a cloud-based digital operations software for wealth management firms, has secured a majority equity investment from FTV Capital, a sector-focused equity investment firm. Docupace...

FINRA Bars Broker for Forging Customer Signatures on VA Policy Documents

The Financial Industry Regulatory Authority has barred Cristina Sabengsy, formerly with NYLIFE Securities LLC, for allegedly forging customer signatures on insurance and variable annuity...

NFP to Buy Bronfman Rothschild to Create $10 Billion RIA

NFP Corp., an insurance broker and provider of wealth management, retirement and estate planning services, plans to acquire wealth advisory firm Bronfman E.L. Rothschild...

Securities America Recruits Former Questar Super-OSJ

Securities America, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE: LTS), has added the Lanzetta Group, a Super-OSJ group with approximately...

Ladenburg’s Highland Capital Recruits Advisory Group with $150 Million In Client...

Highland Capital Brokerage, an independent life insurance brokerage company and subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE: LTS), has added Oak & Stone...

LPL Financial Adds Former Cetera Team to Platform

LPL Financial LLC, the nation’s largest independent broker-dealer, has added Founders Investment Services, offered at Founders Federal Credit Union, to its broker-dealer and corporate...