Six brokerages agreed to return more than $5 million to investors to settle Finra charges for recommending unsuitable share classes of a popular college-savings investment product. The Financial Industry Regulatory Authority Inc. announced on Dec. 20 agreements with LPL Financial ...

LPL Financial’s largest affiliated branch office, Private Advisor Group, said on Friday that Merchant Investment Management had taken a non-controlling minority stake in the firm. Merchant Investment Management is a private partnership that invests in growth companies and other opportunities. ...

The Securities and Exchange Commission said on Monday it had reached an agreement with 1st Global Advisors Inc., now known as Avantax Advisory Services Inc., to pay a $16.9 million penalty over not revealing conflicts stemming from marketing fees paid ...

The Securities and Exchange Commission has appointed William A. Birdthistle, currently a professor at Chicago-Kent College of Law, as director of its division of investment management. The division oversees regulatory policy for investment advisers and investment companies. He replaces Sarah ...

The Securities and Exchange Commission has charged New York-based registered investment adviser Global Infrastructure Management with failing to properly offset its management fees and for making misleading statements about the fees and expenses it charged. To settle the charges, Global ...

We’re all familiar with the proverb, “The cobbler’s children have no shoes.” For many financial advisers, though, it’s not their children who lack proper planning, but the advisers themselves. A 2018 study by the Financial Planning Association and Janus Henderson ...

When clients do things on their own, sometimes everything turns out great. But sometimes there are glitches. And sometimes problems arise from other sources. “Do you have a copy of the trust document for my daughter’s trust account?” the client ...

The $26.7 trillion mutual fund industry will likely continue to ride on a lucrative wave of fee-based revenue for as long as the bull market lasts, but the smaller and scrappier ETF space is taking significant bites out of the ...

It has been well established that people generally spend less in their later years of retirement — but new research shows that it’s often not a matter of choice. Rather, most retirees are likely forced to cut down costs, largely ...

Elad Roisman, one of two Republicans on the U.S. Securities and Exchange Commission, said Monday that he plans to step down by the end of January. His departure will leave Hester Peirce as the only GOP commissioner at the agency ...