Patrick Donachie

Chicago-based Hightower’s investment in Dechtman Wealth Management is the firm’s sixth this year and follows its majority stake in institutional consulting firm NEPC several months ago.

The commission charged South Carolina-based former rep Eric Cobb with defrauding clients while working for SeaCrest Wealth Management. The firm paid $375,000 to settle the charges.

According to one expert, President-elect Donald Trump’s SEC Chair nominee may pursue cases where there is “fraud or harm” to investors rather than situations where firms fail to follow compliance policies.

Since forming in late 2023, Constellation has made eight investments in firms, including one earlier this month in Cresset.

The addition of Roth Asset Management is the 30th deal since Wealth Partners Capital Group took a minority stake in December 2020.

An Ohio-based trio of advisors managing about $995 million joined Raymond James from Merrill Lynch, while Beacon Pointe Advisors snagged two teams in Boston and Dallas totaling more than $600 million.

The two firms share office space and opted to move jointly. This is the latest of several teams to move from Osaic to Commonwealth this year.

The firm is seeking an injunction in Texas federal court against Roberto Ortega, alleging he accessed client information to solicit them when he left to join a new firm.

Adding the Dallas-based Brownlie & Braden Advisors to the Kansas City-headquartered Prairie Capital Management Group will help unlock a “key strategic market” for the latter firm.

According to FINRA, the firms failed to supervise whether clients could benefit from fee waivers or rebates on certain mutual fund purchases. The settlements stemmed from a targeted exam launched in 2020.