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RIA EverNest Files Lawsuit to Sever Ties with Sanctuary Ä¢¹½´«Ã½alth Following FINRA Fine

February 6th, 2024 at 10:45 AM
EverNest Financial Advisors, a Carmel, Indiana-based registered investment adviser, has filed a lawsuit seeking to reverse a deal where it sold a 20 percent stake to Sanctuary Ä¢¹½´«Ã½alth almost two years ago.
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Former Ameriprise Advisor Barred by FINRA for Non-Cooperation in Crypto Business Investigation

February 5th, 2024 at 1:15 PM
A former Ameriprise Financial advisor, Eric V. Kubiak, has chosen an industry bar over full cooperation with a Financial Industry Regulatory Authority (FINRA) investigation into his undisclosed outside business activity involving crypto assets.
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Financial Advisor Sentenced to 8 Years for Defrauding Amish Investors

February 2nd, 2024 at 2:18 PM
Earl D. Miller, convicted in 2022 for defrauding Amish and Mennonite investors through his real estate investment firm, "5 Star", has been sentenced to over eight years in prison.
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FINRA Fines and Suspends Merrill Lynch Advisor Over Unauthorized Role as Estate Executor

February 1st, 2024 at 1:26 PM
Frederick R. Watson, a veteran advisor with 37 years of experience at Merrill Lynch, has been fined $10,000 and suspended for four months by the Financial Industry Regulatory Authority (FINRA).
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SEC Raises Concerns Over Arbitration Clauses in Investment Advisory Agreements

January 31st, 2024 at 1:17 PM
A cautionary note has been sounded by an investor advocacy group operating within the Securities and Exchange Commission (SEC), signaling potential fiduciary duty violations by registered investment advisers employing contract clauses to steer client disputes into arbitration.
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Financial Advisors Set to Boost Client Allocations to Alternative Assets in 2024

January 30th, 2024 at 2:29 PM
A recent independent survey conducted by CAIS and Mercer reveals that 62 percent of financial advisors currently allocate between 6 percent and 25 percent of clients' portfolios to alternative asset classes.
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Former JPMorgan Advisor Agrees to Injunction Amid Solicitation Allegations

January 29th, 2024 at 1:06 PM
A former JPMorgan advisor sued last week, in connection with his transition to an independent practice with Kestra Private Ä¢¹½´«Ã½alth Services, has agreed to a stipulated injunction prohibiting him from soliciting his former customers.
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JPMorgan Pursues Legal Action Against Advisor Who Moved to Ä¢¹½´«Ã½lls Fargo

January 26th, 2024 at 1:21 PM
JPMorgan Chase & Co. has initiated legal action, seeking a temporary restraining order against former employee Jeffry Neal Carel. 
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SEC Charges Investment Advisor Justin Murphy for $3.4 Million Investor Funds Misappropriation

January 25th, 2024 at 10:37 AM
The Securities and Exchange Commission (SEC) has charged Justin Murphy and his investment management firm, Mara Investments, LLC, for fraudulent misappropriation of approximately $3.4 million of investor assets.
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FINRA Bars New Jersey Advisor Over Alleged Securities Violations and Refusal to Testify

January 24th, 2024 at 2:26 PM
The Financial Industry Regulatory Authority (FINRA) has barred New Jersey advisor Anthony J. Cantone for refusing to provide testimony in an investigation into his business practices.
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