During the IAWatch compliance event in Washington D.C. this month, SEC officials emphasized that examiners will continue to focus on how RIAs serve their senior clients.
Tagged with "RIA"
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SEC Examiners to Focus on How RIAs are Protecting Elderly Clients
Posted on March 13th, 2019 at 11:25 AM
A Decade After the Financial Crisis of 2008, The Financial Planning Industry is Seeking Clarity Regarding Custody Status for RIAs
Posted on February 21st, 2019 at 5:06 PM
As a result of the financial crisis of 2008 and the Bernie Madoff Ponzi scheme, the SEC updated its custody rules for registered investments advisers in 2009.
Wells Fargo Launches New RIA Platform
Posted on February 14th, 2019 at 2:36 PM
In a recent press release, Wells Fargo announced the launch of its new service offering to help advisors become RIAs through its multi-channel business model. The goal of the model is to allow for ownership, independence and flexibility, as well as business growth. TradePMR, a privately held brokerage and custodian service provider, would provide middle-office support, while also utilizing First Clearing.
Wells Fargo Recruits First Adviser to Join Its RIA Channel
Posted on January 17th, 2019 at 9:46 AM
According to Wells Fargo Advisors, a Philadelphia-area advisor will be the first Wells Fargo private wealth employee to join the firm’s new registered investment advisor custody business.
RIA Found Guilty of Misappropriating Funds from Mike Tyson
Posted on February 24th, 2017 at 12:13 PM
Brian Ourand, a former registered investment adviser in Washington, D.C. was found guilty by the SEC for misappropriating funds from his clients, which included many professional athletes such as former heavyweight champion Mike Tyson and NBA star Glen Rice.
Jon Harder Sentenced to 15 Years in Prison in Oregon’s Largest Investor Fraud Case in History
Posted on December 21st, 2015 at 2:14 PM
In early January 2015, Harder plead guilty to one felony count of mail fraud and one felony count of money laundering in Portland, Oregon. He admitted to lying to more than 50 investors to obtain more than $5 million between late 2007 and February 2008.
Time for Reform in the RIA Industry?
Posted on December 11th, 2015 at 1:38 PM
SEC oversight of registered investment advisers is not robust. Each firm is examined once every 11 years on average, and 40% of firms never have been subject to an examination.
RIA Mergers and Acquisitions Fueling Growth
Posted on June 25th, 2015 at 5:16 PM
Mergers and acquisitions among investment advisers show steady growth for that segment in the financial services industry.
California Based RIA Charged in Ponzi Scheme
Posted on March 19th, 2015 at 4:57 PM
The SEC has barred a California-based RIA from the industry after the firm was charged with misleading investors - including falsely claiming that its fund was "SEC approved."
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