Court orders RIA firm and founder to pay more than $2 million

A federal court in Connecticut has entered final judgments against Temenos Advisory, a Litchfield, Connecticut-based RIA, and George Taylor, its former chief executive, for putting $19 million of investor money at risk without performing due diligence or disclosing investment risk. The case, which was brought…

Edward Jones files to create bank

The corporate parent of broker-dealer Edward Jones has submitted an application to the Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions to establish the Edward Jones Bank, a Utah-chartered industrial bank. “If approved, the bank would help Edward Jones better serve clients’…

Vermont hybrid managing $210 million links to LPL

Ridgeline Wealth Management, a St. Johnsbury, Vermont-based hybrid managing $210 million, has affiliated with LPL Financial’s broker-dealer and corporate registered investment adviser custodial platforms. Ridgeline was formerly affiliated with Wells Fargo Advisors Financial Network, known as FiNet. The team, led by founders Jake Lavely and…

Stock rally is sending investors back into hedge funds

After years of losing both clients and clout in financial markets, signs are emerging that hedge funds are back in favor in the U.S. In the past few months, investors such as George Soros’s family office and the Texas pension fund have been plowing cash…

Gold market focuses on yield curve control

Now that futures have cracked $1,800 an ounce, the global gold market wants to know what the Federal Reserve may do next to rescue the U.S. economy, with minutes due Wednesday that are expected to shed light on the central bank’s willingness to embrace yield…