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Financial adviser to the stars gets long run in prison
Kenneth I. Starr sentenced to more than seven years in jail for fraud; clients included Sylvester Stallone, Wesley Snipes
Ken Starr’s e-mails should bar release on bail, U.S. Says
Kenneth I. Starr, the money manager who pleaded guilty to fraud in September, should stay in jail until he's sentenced because of a series of e-mails in which he expressed “extraordinary contempt” for his brothers, who would guarantee his bail, U.S. prosecutors argued.
SEC sues Ken Starr lawyer for helping steal $25M adviser’s clients
The U.S. Securities and Exchange Commission sued an attorney for Kenneth Starr, claiming he helped the former New York money manager steal more than $25 million from investors.
Starr struck: Celebrity financial adviser slapped with suit
Kenneth Starr, the investment adviser accused in a criminal indictment of stealing at least $59 million from clients, was sued by City National Bank, according to state court records in New York.
Ken Starr indicted; clients’ estimated losses double
Kenneth Ira Starr, the New York investment adviser who represented actors Sylvester Stallone and Wesley Snipes, was indicted for stealing at least $59 million from clients, almost double the amount previously thought. Starr studded: Adviser's celebrity client list
Ken Starr, financial adviser to the stars, charged with fraud
Kenneth Ira Starr, whose advisory firm manages $700 million -- including the assets of scores of celebrities -- was charged by the U.S. with defrauding clients.A-List: A look at Kenneth Starr's famous clients
Schwab reverses course on alternatives
The Charles Schwab Corp. has reversed course and will allow advisers to hold in custody additional alternative investments.
WealthTrust founder relinquishes CEO post
Rush “Rusty” Benton, who founded WealthTrust LLC in 1997 to buy majority stakes in independent wealth management firms, is stepping down as chief executive of the company and will assume the new role of chairman, he said Thursday.
Pair of RIA founders forced out as roll-up firms feel pressure
On consecutive Fridays this month, the founders of two independent wealth management firms that sold majority interests to parent consolidator firms were forced from their jobs.
Behind-the-scenes battle raging in Congress over fiduciary amendment
As the Senate this week wades through scores of amendments to legislation on financial regulatory reform, lobbyists are going toe-to-toe over applying a fiduciary standard.
WealthTrust founder Rusty Benton relinquishes CEO post
Rush “Rusty” Benton, who founded WealthTrust LLC in 1997 to buy majority stakes in independent wealth management firms, is stepping down as chief executive officer of the company and will assume the new role of chairman, he said Thursday.
RIA mergers remain sluggish as consolidators slow down
The pace of mergers-and-acquisitions activity among independent advisers has been slow this year amid continuing economic uncertainty, but the fundamentals behind combinations have remained strong, according to a new study.
Roll-up firms get squeezed by backers and RIA firms
Businesses that specialize in consolidating independent-advisory firms — particularly, consolidators known as roll-ups — are under strain, according to participants in the ventures, investment bankers and consultants.
What’s in Obama’s portfolio?
President Barack Obama's success as an author continued to add to his wealth last year as he and first lady Michelle Obama reported having assets of between $2.3 million and $7.7 million.
Bill Gates’ father: ‘Rich people aren’t paying enough’ in taxes
The software billionaire's father is spearheading an initiative to impose a state tax on Washington's wealthy
Washington has found its scapegoat in Goldman
The hearings last week by the Senate Permanent Subcommittee on Investigations into The Goldman Sachs Group Inc.'s behavior during the mortgage bubble was a show trial designed to deflect responsibility for the bubble and its aftermath from Washington.
Blog: An emotional response to today is ‘completely unnecessary’
This is obviously a big panicked reaction. It could last for days or be over by tomorrow but recognize it for what it is, a panic.
More breakaway brokers joining established RIAs, says Schwab
Of the 172 new adviser teams that joined Schwab in 2009, fully 42% went to existing RIAs. That's a big change from previous years
OpINion online: Sow or reap? That’s the question for advisers
My friends at Business Health, an international consulting firm that specializes in financial advisory businesses, recently came out with a report comparing the financial “health” of Australian advisory practices today with their condition in 2007.
At boot camp, advisers learn social-media tools
Why 20 advisers shelled out $300 apiece in hopes of finding ways to use social-media in their respective businesses.