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Disclosures, Fraud, Suitability – Target of State Regulators

Financial Advisory | September 17, 2024

Failure to register as an investment advisor and failure to register as an investment advisor representative were the leading reasons of enforcement proceedings, according to the North American Securities Administrators Association’s (NASSA) most recent annual report. In addition, fraud and failure to maintain adequate compliance policies and procedures ranked high, while breach of fiduciary duty ...

Hedge Funds Successfully Navigate August Volatility: HFR

Alternative Assets | September 17, 2024

Hedge funds were up modestly in August, despite large cap equities troubles to start the month, with composite gains of 0.25%, according to Hedge Fund Research’s Fund Weighted Composite Index. Performance was led by equity hedge and fixed income-based relative value arbitrage strategies. Gains in equity hedge funds, which invest long and short across specialized ...

LPL Adds $300M Florida FA Team to Employee Advisor Channel 

Broker/Dealers | September 17, 2024

LPL Financial LLC has added financial advisors Kultar “Sid” Bindra and Steven Alvarez to its employee advisor channel, Linsco by LPL Financial, to launch Tampa, FL-based The Bindra Group. The team, previously with Truist Financial, reported serving approximately $300 million in advisory, brokerage and retirement plan assets.  Bindra’s wealth management career began in college, working ...

ExchangeRight Fully Subscribes $107M Net-Leased DST Offering 

Alternative Assets | September 17, 2024

ExchangeRight, a provider of real estate DST and REIT investments, announced that the company’s $107 million Net-Leased Portfolio 66 DST has been fully subscribed.   The DST features over 507,017 square feet of national tenants operating in necessity-based industries. The portfolio provides monthly distributions at a current annualized rate of 5.00%. The offering is closed and is ...