A former financial advisor has pleaded guilty to wire fraud after orchestrating a scheme that stole nearly $10 million from an elderly client, according to reporting by Financial Advisor News.
A Long Island-based registered investment adviser and two of its senior executives now face parallel civil and criminal proceedings tied to an alleged scheme involving conflicted private fund investments, as reported by InvestmentNews.
A federal jury convicted former Morgan Stanley advisor Darryl Cohen for orchestrating a fraud scheme that targeted three professional basketball players and resulted in losses totaling approximately $5 million, according to Wealth Management.
The Securities and Exchange Commission (SEC) has alerted investors that fraudsters increasingly rely on relationship-based investment schemes to steal money.
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Recent geopolitical developments have forced wealth advisors to reassess client exposure to Dubai, a jurisdiction that has attracted significant ultra-high-net-worth capital over the past decade.
Advisor movement across the wealth management industry accelerated sharply in 2025, with 11,172 experienced financial advisors changing firms, according to reporting by Wealth Management citing the latest Advisor Transition Report from Diamond Consultants.
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