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ÍøÆØ³Ô¹Ï Blog

Former Apprentice Advisor Sentenced to Prison for Client Theft

July 12th, 2024 at 11:11 AM
Dusty Sternadel, a former advisor with Ameriprise, has been sentenced to five years for defrauding clients of over $1.2 million. The Justice Department revealed that Sternadel pleaded guilty to wire fraud earlier this year.
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CFP Board Reaches Milestone with 100,000 Certified Financial Planners

July 11th, 2024 at 3:27 PM
The CFP Board recently announced a significant milestone, surpassing 100,000 Certified Financial Planners (CFPs).
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ÍøÆØ³Ô¹Ïlls Fargo Faces ERISA Lawsuit Over 401(k) Plan Asset Use

July 10th, 2024 at 11:51 AM
A new proposed class action has been filed in the US District Court in the Northern District of California, alleging that ÍøÆØ³Ô¹Ïlls Fargo and its associated committees violated the Employee Retirement Income Security Act (ERISA).
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SEC Charges Investment Firm with Defrauding Investors of $3 Million

July 8th, 2024 at 1:18 PM
The U.S. Securities and Exchange Commission (SEC) has charged Joshua Goltry and his firm, JAG Capital Advisors LLC, with defrauding investors of at least $3 million over three years.
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Top Morgan Stanley Advisor Fined and Suspended

July 5th, 2024 at 8:55 AM
A prominent Morgan Stanley advisor has accepted a 45-day suspension and a $10,000 fine for unauthorized money transfers and using personal communication channels for business-related texts, according to a FINRA settlement letter known as an Acceptance, Waiver, and Consent (“AWC”).
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Nontraded REIT Sales Slump Amid Market Uncertainty

July 3rd, 2024 at 12:00 PM
InvestmentNews recently covered the sluggish start to nontraded real estate investment trust (REIT) sales in the current year, observing that the slump reflects the challenges facing commercial real estate investors, hinting at potential devaluation in certain REITs, especially net asset value (NAV) products.
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Brokerage Firm Settles FINRA Allegations for Texting Lapses and Due Diligence Deficiencies

July 2nd, 2024 at 9:16 AM
A recent settlement between a Florida-based brokerage firm and the Financial Industry Regulatory Authority (FINRA) has drawn attention to the importance of retainingbusiness-related text messages and conducting due diligence on private placement offerings.
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Financial Advisor Awarded $376,000 in Partnership Dispute

July 1st, 2024 at 2:15 PM
Financial advisors often partner with other financial advisors, but how they document the arrangement is critically important.
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Federal Judge Restrains Raymond James from Soliciting Former TD Bank Clients

June 28th, 2024 at 11:04 AM
A federal judge has issued a restraining order against two Raymond James advisors, preventing them from contacting their former clients at TD Bank.
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Former Advisor Sentenced for Stealing Elderly Client's Life Savings

June 27th, 2024 at 1:32 PM
Eddy Ray Blizzard, a former financial advisor, has been sentenced to 3.5 years in federal prison for stealing nearly $1 million from an elderly client.
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