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Financial Advisors Split on AI Adoption

September 19th, 2025 at 2:19 PM
Artificial Intelligence (AI) continues to dominate headlines, promising sweeping efficiencies in nearly every industry. Financial Planning reports that financial advisors remain divided on its role and value.
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Easterly ROCMuni Fund Collapse Triggers Investor Lawsuits

September 18th, 2025 at 2:24 PM
The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of millions in value and leaving many investors with steep losses.
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FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

September 17th, 2025 at 2:02 PM
FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.
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Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute

September 16th, 2025 at 11:35 AM
Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.
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California Young-Gun Investor Charged in Alleged $6 Million Ponzi Scheme

September 15th, 2025 at 2:59 PM
Federal prosecutors have accused Mihir Deepak Sukthankar, a California resident once celebrated as a teenage trading “prodigy,” of orchestrating a multi-million-dollar Ponzi scheme.
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LPL Broker Fined and Suspended for Recommending Risky Investments to Elderly Client

September 12th, 2025 at 10:11 AM
An LPL Financial broker in Elizabethtown, Kentucky, has agreed to sanctions after FINRA found he violated Regulation Best Interest (Reg BI) when recommending unsuitable investments to an elderly customer.  
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Montana Federal Judge Allows Family's Premium Financing Claims to Proceed

September 11th, 2025 at 11:57 AM
A federal judge in Montana has allowed a family to move forward with negligence, fraud, and unjust enrichment claims tied to a premium-financed life insurance arrangement valued at $67.5 million.
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Arizona Man Sentenced to 30 Years for Multi-Million Dollar Ponzi-Style Fraud

September 10th, 2025 at 11:25 AM
An Arizona man has been sentenced to 30 years in prison for running a Ponzi-style investment scheme that defrauded more than 100 victims out of millions of dollars, according to the U.S. Attorney’s Office for the District of New Mexico.
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Easterly ROCMuni Fund's Steep Decline Spurs Potential Investor Lawsuits

September 9th, 2025 at 11:54 AM
The Easterly ROCMuni High Income Municipal Bond Fund (RMHIX) has suffered a dramatic collapse, losing nearly half its value in June and now trading at a net asset value (NAV) of $2.95 per share.
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SEC Fines New York RIA $50,000 for Custody Rule Violations

September 8th, 2025 at 1:32 PM
The Securities and Exchange Commission (SEC) has fined Munakata Associates, a New York-based registered investment adviser, $50,000 for failing to comply with the agency’s custody rule requirements.
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