Welcome to Financial Advisor IQ

February 8, 2019

What Jay-Z Wants, Finra Insists It Already Has
Jay-Z’s complaint that there aren’t enough eligible African-American arbitrators in the American Arbitration Association draws attention to diversity concerns.
Ex-Merrill Lynch FA Fired and Barred Over Bypassing Internal Controls
The advisor allegedly tried to circumvent the firm’s restrictions on the amount of Class B mutual fund shares a client can own.
Why More RIA and TAMP M&A May Be on the Way
RIA and TAMP mergers were among 2018’s largest deals in the industry, and experts say 2019 may continue the trend.
13 Years in Prison for Ex-RIA Over Ponzi Scheme
Defendant faced up to 20 years for allegedly defrauding 53 investors and a church.
Wells Fargo Advisors Loses Another FA Practice to LPL
The team previously managed around $105 million.
RIA Deal Value Plummeted in January
The 12 RIA transactions last month accounted for just $4.4 billion, compared to 13 RIA deals valued at $21.5 billion in January 2018, according to Fidelity.
Barred Fidelity Broker Risked License for $3,700 Computer Reimbursement
Broker violated the high standards of commercial honor rule, says Finra.
Five Indie FAs Join IFP Platform
Together, the advisors oversee around $393 million.