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Tagged with "eccleston"

Former Western Asset Management Co-CIO Charged with Fraud for Cherry-picking Trades

Posted on December 17th, 2024 at 10:58 AM
Former Western Asset Management Co-CIO Charged with Fraud for Cherry-picking Trades

The SEC recently charged Ken Leech, former Co-CIO of Western Asset Management, with fraud. 

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Wells Fargo Advisors Tightens Rules on FiNet Advisors' Outside Investments

Posted on December 16th, 2024 at 11:22 AM
Wells Fargo Advisors Tightens Rules on FiNet Advisors' Outside Investments

Wells Fargo Advisors has introduced a new policy requiring advisors in its Financial Network (FiNet) channel to seek company approval before accepting certain outside investments. 

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Merrill Lynch Advisor Penalized for CFP Exam Misconduct

Posted on December 13th, 2024 at 9:15 AM
Merrill Lynch Advisor Penalized for CFP Exam Misconduct

Jeffrey Dattilo, a former Merrill Lynch advisor, has agreed to regulatory penalties for allegedly providing improper assistance to others taking the Certified Financial Planner (CFP) exam.

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Paychex Securities Advisor Penalized for Undisclosed Referral Agreement with RIA

Posted on December 13th, 2024 at 8:59 AM
Paychex Securities Advisor Penalized for Undisclosed Referral Agreement with RIA

A former advisor has agreed to a $7,500 fine and a six-month suspension following allegations of failing to disclose a referral agreement with an outside registered investment advisory (RIA) firm.

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Brokerage Firms Shift Away from Centralized Portfolio Management as Advisor Autonomy Grows

Posted on December 11th, 2024 at 11:03 AM
Brokerage Firms Shift Away from Centralized Portfolio Management as Advisor Autonomy Grows

After years of promoting centralized portfolio management, brokerage firms are increasingly supporting advisors who prefer more control over investment decisions, according to AdvisorHub

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Former Wells Fargo Advisor Pleads Guilty to $3 Million Fraud Scheme

Posted on December 10th, 2024 at 11:18 AM
Former Wells Fargo Advisor Pleads Guilty to $3 Million Fraud Scheme

A former Wells Fargo advisor, Kenneth A. Welsh, has pleaded guilty to charges of wire fraud and investment advisor fraud after stealing over $3 million from his clients, according to WealthManagement.

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Court Dismisses Whistleblower Lawsuit Against Fidelity Investments

Posted on December 9th, 2024 at 11:14 AM
Court Dismisses Whistleblower Lawsuit Against Fidelity Investments

A federal court has dismissed a whistleblower lawsuit filed by a former financial advisor against Fidelity Investments. According to ThinkAdvisor, the case involves allegations that the company fired him for reporting unethical practices.

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Former Tesla and Lyft Executive Launches ETF Firm

Posted on December 6th, 2024 at 1:22 PM
Former Tesla and Lyft Executive Launches ETF Firm

Jon McNeill, a former executive at Tesla and Lyft and co-founder of venture firm DVx Ventures, has partnered with ETF pioneer Adam Patti to launch VistaShares, an asset management firm specializing in ETFs centered on artificial intelligence and electrification.

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SEC Charges Boca Raton Advisor with $2.1 Million Fraud Scheme

Posted on December 5th, 2024 at 3:58 PM
SEC Charges Boca Raton Advisor with $2.1 Million Fraud Scheme

The U.S. Securities and Exchange Commission (SEC) has charged David Kushner, a Boca Raton, Florida resident, and his company, La Mancha Funding Corp., with defrauding nearly two dozen investors out of approximately $2.1 million.

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Wells Fargo Advisors Ordered to Pay $500,000 for Misuse of Former Advisor's Name

Posted on December 4th, 2024 at 3:55 PM
Wells Fargo Advisors Ordered to Pay $500,000 for Misuse of Former Advisor's Name

Wells Fargo Advisors must pay nearly $500,000 in damages to Nicholas Takahashi, for allegedly using his name on their website long after he left for a competitor.

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