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ÍøÆØ³Ô¹Ï Blog

Former Tesla and Lyft Executive Launches ETF Firm

December 6th, 2024 at 1:22 PM
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

December 5th, 2024 at 3:58 PM
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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ÍøÆØ³Ô¹Ïlls Fargo Advisors Ordered to Pay $500,000 for Misuse of Former Advisor's Name

December 4th, 2024 at 3:55 PM
ÍøÆØ³Ô¹Ïlls 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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Client Associates Sue Firms Over Discrimination and Wrongful Termination

December 3rd, 2024 at 2:30 PM
Three former client associates have accused major financial institutions—Charles Schwab, Morgan Stanley, and Ameriprise Financial—of wrongful termination.
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ÍøÆØ³Ô¹Ïlls Fargo Terminates Advisor Over $60 Personal Expense

December 3rd, 2024 at 9:07 AM
ÍøÆØ³Ô¹Ïlls Fargo Advisors recently terminated Charles J. Kraft, a 30-year industry veteran, over a $60 expense account infraction.
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Class Action Suits Target Major Banks Over Cash Sweep Programs

November 27th, 2024 at 1:04 PM
ÍøÆØ³Ô¹Ïlls Fargo, Merrill Lynch, and Morgan Stanley face class action lawsuits alleging they exploited cash sweep programs to generate “massive revenue” at clients' expense.
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Arizona Revokes Advisor's License for Misrepresenting High-Risk GPB Capital Investments

November 26th, 2024 at 10:21 AM
The Arizona Corporation Commission has revoked the license of Scottsdale-based investment advisor representative Luke M. Johnson, who sold over $10 million in high-risk private placements by GPB Capital Holdings. 
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Osaic Advisor Fined and Suspended for Submitting False Bank Statements

November 25th, 2024 at 2:13 PM
AdvisorHub recently reported that the Financial Industry Regulatory Authority (FINRA) has imposed a $5,000 fine and a two-month suspension on Kalomira Zangoulos, a former Osaic advisor in Sterling Heights, Michigan.
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B. Riley Sells Employee ÍøÆØ³Ô¹Ïalth Management Group to Stifel

November 22nd, 2024 at 2:11 PM
B. Riley Financial Inc. has announced the sale of part of its employee wealth management division to Stifel Financial Corp. 
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SEC Fines New Jersey Brokerage and RIA Firms $240,000 for Impending Client Reporting

November 21st, 2024 at 1:17 PM
The Securities and Exchange Commission (SEC) has fined Nationwide Planning Associates, a New Jersey-based independent brokerage, and two affiliated registered investment advisory firms, NPA Asset Management and Blue Point Strategic ÍøÆØ³Ô¹Ïalth, $240,000. 
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Jim, Stephany and the whole team were a God send.  ÍøÆØ³Ô¹Ï felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

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