Financial Advisor IQ

| November 11, 2024 Fifth Third Wealth Advisors has lured a team of financial advisors from TIAA-CREF

Advisor Susan VanSpybrook has poached at least six of her former clients since leaving J.P. Morgan, in violation of a restrictive covenant, the firm alleges in a lawsuit.

At the Securities Enforcement Forum, the enforcement division's acting director urged firms to self-report violations and talked about the progress of enforcement initiatives.

The company failed to stop a broker causing a total of more than $1.2 million in losses in the accounts of two customers, the Financial Industry Regulatory Authority alleged.

Wells Fargo's bank-based advisors are capturing new assets through the firm's Premier offering for affluent customers, Chief Financial Officer Mike Santomassimo said last week.

All disputes, except those involving sexual harassment or assault, will have to go to arbitration, a person familiar with the matter told Bloomberg.

| November 12, 2024 LPL Financial announced that it has added a team of advisors from Osaic , where they oversaw a total of $410 million in advisory, brokerage and retirement plan assets.

The firm's total client assets were up 23% over the prior 12 months while assets in advisory programs increased 28% over the same period, according to its earnings report for the quarter that ended Sept. 27.

While Donald Trump vowed to fire SEC Chair Gary Gensler on the first day of his presidency, the commissioners typically agree on most of the agency's actions regardless of who's chairing it, according to the Wall Street Journal.

Regulation Best Interest prevents broker-dealers from selling mutual funds when identical ETFs are available on their platforms, attorneys and compliance professionals say.