The broker transferred funds from the investment account of a couple whose portfolio he managed directly into bank accounts he controlled, according to the Department of Justice.
'Our pipeline is excellent,' said CEO Rudy Adolf during a conference call Thursday morning. 'Quite frankly, in many ways, we are busier than ever.'
Client appreciation dinners are all well and good, but private suites at Madison Square Garden are clearly beyond the pale.
Amy Cooper was fired last year after accusing a Black man in Central Park with threatening her. The charges were dropped after she completed court-sanctioned therapy sessions about racial bias, according to Bloomberg News.
The regulator wants to install an industry veteran to run GPB to monitor its assets in auto dealerships and make sure investor interests are protected.
Short-term mutual fund trades and variable annuity switching is generally regarded in the retail securities industry as a way for brokers and advisers to increase commissions at the expense of clients.
It's the second round of announced layoffs after last year's mega merger. In October, Schwab said it was laying off 1,000 employees, or about 3% of the combined workforce.
Details of the bonus plan have yet to be revealed. But Adam Antoniades, CEO of Cetera, said such a plan would be forthcoming in an effort to retain as many advisers as possible.
Private equity-backed networks like Cetera Financial Group have been eager to expand. The latest deal will add 900 Voya advisers with $40 billion in client assets onto the independent broker-dealer's platform.
LPL Financial said it will likely surpass its target to bring aboard Waddell & Reed advisers, according to CEO Dan Arnold. The company reported adviser headcount was 17,287, up 119 from the end of September and 823 year-over-year.
