Eccleston Law Blog

Wells Fargo Ties $2,000 Bonus to Non-Solicitation Clause, Raising Advisor Concerns

September 4th, 2025 at 11:45 AM
Wells Fargo & Co. recently issued a $2,000 bank-wide award to its 215,000 employees, following the Federal Reserve’s June decision to lift its asset growth restrictions.
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Kansas City Advisory Firms Agree to $25.5 Million Settlement Over No-Poach Allegations

September 3rd, 2025 at 1:57 PM
Mariner Wealth Advisors, along with two other Kansas City-area firms, has agreed to a $25.5 million class action settlement over allegations that they illegally agreed not to solicit each other’s advisors.
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FINRA Fines TradeStation Securities Over Deficient Crypto Communications

September 2nd, 2025 at 11:24 AM
FINRA has fined TradeStation Securities Inc. $85,000 for violations related to retail communications about crypto assets and crypto asset-related services.
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FINRA's 2025 Industry Snapshot Highlights

August 29th, 2025 at 11:33 AM
The Financial Industry Regulatory Authority’s (FINRA) has published its 2025 Industry Snapshot. The Snapshot provides a detailed view of its member firms, registered representatives, and trading activity, revealing both consolidation in the industry and shifts in business models.
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Former Raymond James Advisor Barred by FINRA Over Misappropriation Probe

August 28th, 2025 at 2:00 PM
The Financial Industry Regulatory Authority (FINRA) has permanently barred former Raymond James financial advisor Meredith Archer Webber after she failed to comply with repeated requests for documents and testimony during an investigation into the possible misappropriation of funds from two elderly clients, according to ThinkAdvisor.
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SEC Fines American Portfolios Advisors $1.75 Million for Overbilling and Undisclosed Conflicts

August 27th, 2025 at 12:38 PM
The Securities and Exchange Commission (SEC) has fined American Portfolios Advisors $1.75 million for a series of violations that occurred between August 2020 and March 2023, including overbilling advisory clients and failing to disclose conflicts of interest tied to compensation arrangements.
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NIL Era Exposes Student-Athletes to Financial Fraud and Uncharted Risks

August 26th, 2025 at 1:50 PM
The evolving world of paying college athletics has opened new revenue streams for student-athletes. According to Wealth Management it has also invited a host of fifinancial dangers that many young players are ill-equipped to manage.
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Former Broker Indicted for $9.7M Ponzi Scheme Involving Fake Bond Investments

August 25th, 2025 at 2:30 PM
Federal authorities have indicted former securities broker Edwin Emmett Lickiss Jr., 77, on wire fraud and money laundering charges for allegedly orchestrating a $9.5 million Ponzi scheme involving at least 50 investors.
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Former Fidelity Advisor Indicted for $2 Million Fraud Targeting Former Client

August 22nd, 2025 at 1:38 PM
Federal prosecutors have charged former Fidelity Investments advisor Eric James Stone with 10 counts of wire and mail fraud and five counts of money laundering, accusing him of orchestrating a $2 million scheme that exploited a former client for personal gain.
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CFP Board Faces Criticism for Omitting Key Disclosures from Public Search Tool

August 21st, 2025 at 3:55 PM
The CFP Board promotes its certificants as the “most trusted” financial professionals and directs consumers to its LetsMakeAPlan.org search tool. However, a Financial Planning analysis reveals a significant gap between the Board’s records and those maintained by FINRA’s BrokerCheck database.
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LATEST NEWS AND ARTICLES

September 18, 2025
Easterly ROCMuni Fund Collapse Triggers Investor Lawsuits

The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of millions in value and leaving many investors with steep losses.

September 17, 2025
FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.

September 16, 2025
Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute

Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.