Caz Craffy faces 20 years in prison for using his position as an Army Financial Counselor to invest survivors’ benefits in firms where he worked, according to the DOJ.

Fidelity says deals are down 29% from a year ago, but the amount of assets transacted rose by nearly the same percentage.

Edelman Financial Engines is fighting Mariner’s motion to dismiss its lawsuit. In a new filing, Edelman argues that Mariner gets “free rides” off of its competitors.

Monaco Capital and Saling Simms have become the second and third firms to join Steward Partners’ new Legacy Division, established via acquisition late last year.

Verdence/RIA+ will continue to offer outsourced investment management, with added services around succession, compliance and more.

Taimur Baig’s move to Raymond James from Morgan Stanley is the latest of several teams joining the firm’s employee advisor channel from the wirehouse this year.

Astraea Wealth has launched on the Equita platform, focusing on women, LGBTQ clients and “anxious savers,” while Apella Wealth tops $4 billion in AUM with ClearLogic Financial deal.

Envestnet has received interest from private equity firms, including Bain Capital, according to a press report. Shares ended the day up 9% on the news.