A FINRA arbitrator found that a broker at RBC Capital Markets offered misleading information about the investments made on behalf of an 80-year-old retired secretary and ordered the firm to pay $50,000, plus interest.
The family office model has found new life in the independent space, where the ability to deliver customized solutions is drawing top advisors—and their high-net-worth clients—out of the wirehouses.
Woodbridge's former owner and directors of investments were arrested, accused of orchestrating a far-reaching Ponzi scheme that defrauded thousands of investors, most of whom were elderly.
The concept of an IBD-RIA dichotomy is outdated, and the firms that embrace the gradual convergence of these two spaces will be best-positioned to grow and succeed.