Tagged with "Cetera Financial Group"

Cetera Financial Group To Pay $4.2 Million for SEC Mutual Fund Investigation

Posted on March 10th, 2021 at 1:37 PM
Cetera Financial Group To Pay $4.2 Million for SEC Mutual Fund Investigation

In August 2019, the Securities and Exchange Commission (SEC) charged Cetera Advisors with breaching its fiduciary duty and defrauding retail advisory clients in connection with transactions involving its mutual fund.

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After 1.75 Billion Acquisition of Genstar Capital, Cetera Financial Group Announces a New Alignment Program

Posted on October 11th, 2018 at 10:00 AM
After 1.75 Billion Acquisition of Genstar Capital, Cetera Financial Group Announces a New Alignment Program

Cetera Financial Group has announced a new alignment program in an effort to depart from its past industry compensation practices and raise its level of engagement for its 8,000 advisors. Cetera’s announcement proceeds the firm’s $1.75 billion acquisition of Genstar Capital.

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FINRA Fines Eight Broker-Dealers for Violations Related to Sales of Variable Annuity L-Shares

Posted on November 25th, 2016 at 10:00 AM
 FINRA Fines Eight Broker-Dealers for Violations Related to Sales of Variable Annuity L-Shares

FINRA has fined eight firms which include Voya Financial Advisors, Kestra Investment Services, FTB Advisors and five broker-dealer subsidiaries of Cetera Financial Group, comprising of Cetera Advisor Networks, Cetera Financial Specialists, First Allied Securities, Summit Brokerage Services and VSR Financial Services. 

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Bad News for Nicholas Schorsch’s RCS Capital Corp. (RCAP)

Posted on December 10th, 2015 at 8:53 AM
Bad News for Nicholas Schorsch’s RCS Capital Corp. (RCAP)

Nicholas Schorsch has been considered a pioneer in alternative investment since he founded his brokerage holding company RCS Capital Corp. (RCAP). Not more than two years ago he compared RCAP to Wall Street greats Merrill Lynch and Raymond James Financial, Inc. 

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Cetera Shuts Down J.P. Turner Broker-Dealer

Posted on September 9th, 2015 at 9:10 AM
Cetera Shuts Down J.P. Turner Broker-Dealer

Cetera Financial Group will shut down J.P. Turner, its Atlanta-based broker-dealer that Cetera acquired in June 2014. J.P. Turner had 291 reps as of last year end, but has lost more than half of the reps when they joined Summit Brokerage Services, another Cetera firm.

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June 23, 2022
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