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According to the SEC, the affiliated broker for Kestra Advisory Services and Kestra Private Wealth Services received compensation when clients' assets were invested in certain mutual fund share classes.
The unit of Boston-based asset manager Fidelity Investments Inc. plans to add about 100 workers in technology and operations in Dublin, Boston and Salt Lake City.
Wirehouse advisors reported lower levels of support and greater levels of business disruption over the last year compared to non-wirehouse and independent advisors, according to a J.D. Power survey.
As part of the revamp, the department has been renamed 'field supervision,' and the firm has promoted Steve Palmer, a first vice president of sales supervision, to lead it.
Compliance consulting and mutual fund distribution company Foreside, which itself has grown significantly through acquisition over the past two and a half years, has been acquired by private equity firm Genstar Capital.