Ninety-two percent of firms surveyed by the ACA Group and National Society of Compliance Professionals have no policies in place for AI use by third parties and service providers.
In a newly released white paper, the organization recommended that the Board allow certificants at SEC- and FINRA-registered firms to be considered compliant with CFP rules.
The RIA acquirer sued Lars Knudsen earlier this year, alleging the advisor broke his non-compete after he was fired. He believes Hightower dismissed the charges because it expected a judge to rule in his favor.
The deal comes a day after the private equity firm announced a majority stake in the $8.5 billion Americana Partners, a member of the Dynasty Financial Partners network.
Americana’s leadership and employees will still be significant owners after the deal, while CEO Jason Fertitta and the rest of the leadership team will continue to run the firm.
The founding members include Mariner Wealth Advisors, Halbert Hargrove and Modera Wealth Management. Co-Chairs Gerry Goldberg and Grant Rawdin hope the initiative will help firms adopt best practices for servicing...