Emerson Equity and Triad Advisors reached end-of-the-year settlements related to complaints about poor supervision of certain mutual fund sales.
Elite Financial Network has 32 financial advisers in its network across California.
Merchant Investment Management is a private partnership that invests in growth companies and other opportunities. According to its website, Merchant Investment Management this year has focused on investing in the wealth management industry.
The company failed to reveal conflicts of interest concerning marketing fees paid by clients for mutual funds, according to the regulator. The independent broker-dealer 1st Global Advisors was acquired by Blucora in 2019.
'I really think that our financial advisers are going to be happy about this,' one Wells Fargo executive said.
Up until recently, major global firms had happily ignored independent advisers for decades.
Record highs for B-Ds in profits, revenues and assets give the industry much to be cheery about.
The tally is one more sign that there's increasingly little room in retail brokerage for small or midsize firms.
The two executives, Dane Roseman and Ivan Acevedo, were both sales managers for Woodbridge at different times between 2013 and 2017.
After a trying 2020, large Northeastern RIAs saw growth this year rebound to 8.8%. The InvestmentNews annual review of RIAs by region includes firms with $100 million or more in assets.
