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          • Businessman reading financial advisor newsThis Week’s Top 5: Merrill Targets Seasoned Brokers in Key Markets, J.P. Morgan Advisors Replaces CEO, and More
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          • James Gorman, Chairman and CEO Morgan StanleyMorgan Stanley Net New Assets Hit Record $105 Billion in First Quarter
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          • Financial Advisors LeavingRockefeller Lures $2.2-Million Merrill Team in Michigan
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          • Advisor FraudSEC Charges RIA with Pro Athlete Niche for Ripping Off Clients
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          • Advisor GuiltyEx-Merrill Broker in Chicago Pleads Guilty to $3-Mln Fraud
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Enforcement

The latest regulatory, disciplinary and criminal actions.

Advisor Fraud
3/30/21 | Enforcement, News | SEC | 2 Comments

SEC Charges RIA with Pro Athlete Niche for Ripping Off Clients

Edward Jones, FINRA

Ex-Jones Broker Suspended for Attempting DIY Settlement with Client

3/25/21 | Enforcement, News

Finra also fined the Iowa-based broker $5,000 for trying to settle the claim without his firm’s knowledge.

Read More

Advisor Guilty

Ex-Merrill Broker in Chicago Pleads Guilty to $3-Mln Fraud

3/22/21 | Enforcement, News | 17 Comments

Marcus Boggs, a former Merrill Lynch broker who was arrested in 2019, admitted to using clients’ money for travel, expensive meals, and rent and mortgage payments.

Read More

J.P. Morgan
FINRA, JP Morgan

Finra Fines, Suspends Ex-J.P. Morgan Broker Fired over Unauthorized Trades

3/22/21 | Enforcement, News

Broker whose allegedly improper trading in an elderly client’s account was the subject of two New York Times articles agreed to an 18-month suspension and $10,000 fine.

Read More

Dining expense
FINRA, Morgan Stanley

Finra Dings Ex-Morgan Stanley Broker in Los Angeles over Expense Lapse

2/26/21 | Enforcement, News | 2 Comments

Advisor and local restaurateur Kerry Moy accepted a two-month suspension and $5,000 fine for allegedly including the wrong names of attendees on business meals when seeking reimbursement.

Read More

Enforcement, expense report, Finra, Kerry Moy, Los Angeles, Morgan Stanley
Judge rules
FINRA, Wells Fargo

Finra Bars Ex-Wells Broker Who Raised $3.5-Mln For Software Company

2/22/21 | Enforcement, News | 2 Comments

Scott W. Reed of Scottsdale, Arizona, allegedly made nearly $200,000 for soliciting and facilitating at least $3.5 million in unapproved investments in a software company.

Read More

Arizona, Enforcement, Finra, Wells Fargo Advisors
Advisor fraud
FINRA, Northwestern Mutual

Finra Suspends Former NJ Broker Who Borrowed from Clients to Pay Debts

2/1/21 | Enforcement, News

Ex-broker Manish H. Shah accepted a 20-month suspension from the brokerage industry and a $15,000 fine for borrowing money from customers to buy another broker’s practice but using the money for personal expenses.

Read More

broker, Enforcement, Finra, New Jersey, Northwestern Mutual, Rule 2010
Finra ruling
FINRA, Merrill Lynch

Arbitrator Grants Ex-Merrill Bank Broker’s Expungement, Calls Firing ‘Reckless’

2/1/21 | Enforcement, News | 9 Comments

A sole public arbitrator granted the former advisor’s request for expungement and said Merrill defamed the broker by not looking into the allegations behind a customer complaint before issuing the termination.

Read More

Client Associate, Defamation, Employment Law, Enforcement, Finra, Merrill Lynch
FINRA, Morgan Stanley, Wells Fargo

Wells Fargo Recoups $2.5 Million from New Jersey Duo

1/22/21 | Enforcement, News | 1 Comment

Brokers who brought a ‘constructive discharge’ claim against the firm in 2017 have agreed to repay the balance on six promissory notes, according to an arbitration award.

Read More

Arbitration, Enforcement, Finra, Morgan Stanley, Promissory Note, Wells Fargo
Businessman in prison, fraud
Finet, Wells Fargo

Wells Fargo Claws Back $3 Million from Jailed Ex-Broker

1/12/21 | Enforcement, News

Wells had sought to hold the broker responsible for reimbursements it made to clients after the broker allegedly stole more than $1.1 million.

Read More

Fraud, Ohio, Ponzi Scheme
Finra sign
Ameriprise, FINRA

Finra Fines, Supends Ex-Ameriprise Broker Who Flipped ‘A’ Shares

1/11/21 | Enforcement, News

Ohio broker allegedly earned $450,000 from unsuitable short-term trading in Class A mutual fund shares.

Read More

Class-A Fund, Ohio, Suitability Rule
Barred from the securities industry.
Morgan Stanley, SEC

SEC Puts Nail in Ex-Morgan Stanley Broker’s Career Coffin

1/6/21 | Enforcement, News

Former broker Barry Connell, who served prison time for stealing $5 million from customers, has been barred from the securities industry.

Read More

Barry Connell, Crime, Financial fraud
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CORONACRASH NEWS

  • Fed to End Covid-19 Capital Break It Gave Wall Street Banks

    Fed to End Covid-19 Capital Break It Gave Wall Street Banks

    Mar 19, 2021
  • Credit Suisse Replaces U.S. Exec, Halts Bonuses as Clients Fume

    Credit Suisse Replaces U.S. Exec, Halts Bonuses as Clients Fume

    Mar 18, 2021
  • Firing of Billion-Dollar Broker Sends Warning on Work-from-Home Compliance

    Firing of Billion-Dollar Broker Sends Warning on Work-from-Home Compliance

    Mar 12, 2021
  • Big U.S. Banks’ Vows to Halt Job Cuts End as Virus Endures

    Big U.S. Banks’ Vows to Halt Job Cuts End as Virus Endures

    Feb 26, 2021
  • Raymond James Executive: We’re Open to Flexible Work Arrangements for Advisors

    Raymond James Executive: We’re Open to Flexible Work Arrangements for Advisors

    Feb 25, 2021

NEWS

  • This Week’s Top 5: Merrill Targets Seasoned Brokers in Key Markets, J.P. Morgan Advisors Replaces CEO, and More

    This Week’s Top 5: Merrill Targets Seasoned Brokers in Key Markets, J.P. Morgan Advisors Replaces CEO, and More

    Apr 17, 2021
  • Focus Financial Cuts Exec Comp, CEO Pay Falls 16.6%

    Focus Financial Cuts Exec Comp, CEO Pay Falls 16.6%

    Apr 16, 2021
  • Morgan Stanley Net New Assets Hit Record $105 Billion in First Quarter

    Morgan Stanley Net New Assets Hit Record $105 Billion in First Quarter

    Apr 16, 2021
  • Rockefeller Lures $2.2-Million Merrill Team in Michigan

    Rockefeller Lures $2.2-Million Merrill Team in Michigan

    Apr 16, 2021
  • Morgan Stanley Burned by $911 Million Hit on Archegos Blowup

    Morgan Stanley Burned by $911 Million Hit on Archegos Blowup

    Apr 16, 2021

Recruiting Winners: 2020 Year in Review

FINANCIAL INDUSTRY PODCASTS

AllIndependence
The must listen-to podcast for financial advisors by Tony Sirianni. Guests to include:
-Ron Kruszewski
-Shirl Penney
-Penny Pennington
-Eric Clarke
and many more
Incisive conversations focused on helping investors navigate the ever-changing global market landscape
Michael Kitces and Carl Richards discuss financial advising topics.
The “new advice value stack,” and how firms can use it to help maximize their own value propositions for their clients.
Interviews and insights for advisors curious about switching to a new broker dealer.
The Brighthouse Financial Insights Panel is a group of leading, independent experts providing powerful insights into the big challenges facing you and your clients.
Powering Independence Podcast, insights and ideas for RIAs, presented by Dynasty Financial Partners. A podcast dedicated to presenting fresh ideas and best practices for the wealth management industry.
As an industry expert, Frank LaRosa provides guidance and advice on a host of topics from recruiting and transitions, succession planning, practice management, M&A and more.
Our goal is to unlock the challenges to reveal the opportunities and what it means to provide advice in the 21st century.
Go behind the scenes with registered investment advisors and other related independent business model experts
As a nationally recognized recruiter and consultant to financial advisors, Mindy Diamond has unmatched experience in introducing advisors to the independent space.
The must listen-to podcast for investors, venture capitalists and financial advisors, with Tony Sirianni and Paul Dietrich.
An Introduction to Independence: 5 Key Episodes to Jumpstart Your Knowledgebase
Jay is an investment strategist, CERTIFIED FINANCIAL PLANNER™ and business consultant to financial advisors.
We interview top financial advisors and visionary voices to bring you the strategies, tips, and tools you need to make a difference in people’s lives.
A financial literacy and commentary show that features a number of investors, financial experts, professional athletes, business owners and more.
Join Sound Financial Group CEO Paul Adams and President Cory Shepherd every week, as they help you Design and Build a Good Life™.
The Kuderna Podcast, focusing on wealth in it's original meaning- a state of well being.
Timeless wisdom, actionable information you can use right now to make smarter investment decisions.
Made for and dedicated to those folks serious about their financial plan.
Suzanne Siracuse asks the questions nobody else asks, as influencers and interviewer collide in her new and truly unique podcast series The Big Reveal.
Our webcast is dedicated to helping our viewers get real insights by avoiding the cognitive dissonance of today’s media outlets and biased editorial filters.

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