The SEC claims that Eugenio Garcia Jimenez Jr., an unregistered investment advisor, misappropriated $7.1 million of funds belonging to the Municipality of Mayagüez, Puerto Rico.
Thomas A. Sporkin will join the board in January as the managing director, enforcement, and will be tasked with modernizing the board's detection, investigation and prosecution processes.
Thrivent Advisor Network is building out its business development team with former LPL executive Gary Foster.
The acquisition is part of FMG’s plan to become an end-to-end digital-marketing platform for financial advisors.
The SEC said Anson Jean-Pierre told investors the funds would be used to develop projects in Haiti, but he actually spent some of the money on things like retail and travel purchases.
The three advisors at the San Diego–based Nautica Wealth Advisors had all previously been affiliated with the independent broker/dealer and are reconnecting with the company from Cetera.
Financial advisors are in a unique position to see changing behaviors in clients that might pop up amid hardships with career, health or finances.
