The SEC has charged an advisor and his wholly-owned RIA firm with operating a nearly $5-million Ponzi scheme that defrauded scores of investors over almost a decade, according to the regulator’s complaint filed in federal court. To read the full article in Financial Planning, click: SEC Accuses Advisor of $5M Ponzi Scheme.
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After strong gains in revenue, client growth and AUM over the last six months of 2017, RIAs say they’re feeling confident about the economic outlook and plan to capitalize on recent growth, according to a survey from TD Ameritrade Institutional. Nearly nine out of 10 RIAs surveyed netted new client assets in the past six months and almost half expect AUM to grow at an even faster rate in 2018. They also reported double-digit growth in both revenue (15%) and new clients (16%) over the same period. To read the full article in FinancialPlanning, click: RIAs Bullish on Asset Growth.