FINRA is examining brokers who received a loan through the Paycheck Protection Program, a federal government program intended to provide relief to small businesses impacted by the coronavirus pandemic. In a letter obtained by Financial Planning, the regulator’s National Cause and Financial Crimes Detection Programs says the purpose of the examination is to determine whether […]
Archives for January 2021
Midsize IBD to make its first $1B acquisition
A midsize wealth manager is boosting its annual revenue by 40% and its advisor headcount by 75% through its first major M&A deal. Arete Wealth agreed to purchase Nashville-based Center Street Securities, which has 112 advisors and $1.04 billion in total client assets, the firms said Jan. 15. The parties didn’t disclose the financial terms […]
Weekend Reading for Financial Planners (Jan 23-24)
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In alleged fraud case, advisor piled clients into just 1 stock: Rite Aid
The SEC charged a former investment advisor with defrauding clients and breaching his fiduciary duty by, among other things, over-concentrating portfolios in Rite Aid securities and misrepresenting the security and safety of those assets even after a planned acquisition of the drug store chain fell apart. Jacob Glick, 36, allegedly placed clients in unsuitable and […]
Yellen leaves door open to HNW tax increase
Treasury Secretary-designate Janet Yellen said she would work with lawmakers to fast-track a series of tax increases on corporations and wealthy Americans as the Biden administration tries to pass spending on infrastructure and expanding the social safety net. Yellen, who awaits Senate approval for the post, on Thursday submitted written responses to Senate Finance Committee […]
Editor’s Column: FSCS levy reform can’t come too soon
If I was a Financial Planner I would likely be infuriated by the news today from the Financial Services Compensation Scheme forecasting a levy on regulated firms of over £1bn over the next 12 months, up 30% on the previous year. The seemingly inexorable increase in the levy has undoubtedly left many advisers hopping mad […]
Business Advisor & Accounting Manager – Charlotte Agenda
Fisher, P.A. Certified Public Accounting Firm was established to provide efficient, expert solutions for both businesses and individuals. We measure our success by the success of our clients and the success of our team at Fisher, P.A. Through positive teamwork and leadership, we cultivate an environment of integrity, care and respect allowing us to focus […]
How America Invests (with Vanguard’s Ryan Barrows), Barry Ritholtz takes a victory lap, “That’s fascinating”
Join Downtown Josh Brown on an all-new episode of The Compound Show. This week, a conversation about How America Invests with Ryan Barrows (Vanguard) and a brief visit with Barry Ritholtz (Masters In Business) on the inauguration and winning the election bet with Josh. You can listen to the whole thing below, or find it […]
Lockdown exam boom spurs remote workshop expansion
The Art of Finance training company has launched a series of remote revision workshops to support individuals preparing for their industry qualifications. The initiative covers CII exams R01 – R04 (Level 4 Diploma in Regulated Financial Planning) and FA2 (Level 3 Certificate, pension administration). The two-day revision days will be delivered remotely making them accessible […]
FSCS £1bn levy warning is a ‘scandal’ – PIMFA
The trade association said the industry has reacted with “disbelief” over the plans for a levy a third higher than the previous year amid a backdrop of soaring claims and firm failures. PIMFA says the soaring FSCA levy highlights that urgent regulatory reform is needed. Tim Fassam, director of government relations and Policy at PIMFA […]