Wealth Management
 
WealthManagment.com Daily Memo
Wealth Management Daily Memo

JANUARY 17, 2025

REGULATION & COMPLIANCE

Wells Fargo, Merrill Lynch Pay $60M to Settle Cash Sweep Charges

The yield differential between the firms' bank deposit sweep programs and other alternatives was nearly 4% higher, according to SEC claims.

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RETIREMENT NEWS

Vanguard to Pay $106M Over Retirement Fund Violations

The SEC claims Vanguard made misleading statements about capital gains distributions and tax consequences to retail investors who held target date funds in retirement accounts.

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WHITE PAPER
2025 FMG Marketing Guide
A comprehensive blueprint to building a marketing strategy that truly moves the needle.
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INDUSTRY

LPL Financial Hit with Anti-Money Laundering Violations

The independent broker/dealer has agreed to pay a $18 million penalty and improve its procedures.

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PEOPLE

SEC Charges Pennsylvania Advisor Who Used Client Funds on Country Club Dues

Scott J. Mason of Rubicon Wealth Management defrauded at least 13 advisory clients out of more than $20 million, spending it on country club dues and a miniature golf course in New Jersey, the regulator claims.

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WEBINAR
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