The DI Wire

Lincoln Financial Distributors Inc., a leading distribution company and part of the Lincoln Financial Group family of companies, has been censured and fined $300,000 by the Financial Industry Regulatory Authority for, according to FINRA, violating rules regarding compensation to unregistered entities. #Lincoln #LincolnFinancial #LincolnFinancialDistributors #alternativeinvestments #brokerdealer #RIA #FINRA #financialservices #adviser #brokerage #registeredinvestmentadviser #violation #compensation

The Qualified Opportunity Zone Program – QOZ Program – made available under the 2017 Tax Cuts and Jobs Act is a tax-advantaged investment opportunity continuing to attract significant capital from high-net-worth and institutional investors. The QOZ Program was created to encourage investment in designated communities across the United States by providing certain tax incentives in return for committing long-term capital to these communities through investment vehicles known as qualified opportunity funds, or QOF.   Cantor Fitzgerald Novogradac & Company LLP Jay Frank #CantorFitzgerald #alternativeinvestments #qualifiedopportunityzoneprogram #opportunityzone #financialadvisers #investors #QOF #taxbenefits #deferral #elimination #taxliability #JayFrank #CantorFitzgeraldAssetManagement

The U.S. Securities and Exchange Commission filed an amended complaint adding Shlomo Erez, a citizen of Israel, as a defendant in its previously filed action reported on by The DI Wire in July 2023, which alleges a multimillion-dollar Ponzi-like fraud scheme orchestrated by “criminal recidivist” Eliyahu Weinstein of Lakewood, N.J. #Ponzischeme #SEC #SecuritiesandExchangeCommission #Optimus #healthcare #fraud #Trump #defendants #Weinstein

Real estate investment manager Inland Private Capital Corporation has entered into a strategic relationship with University Partners, an owner and operator of student housing across the United States. The alliance will focus on managing and operating off campus purpose-built student housing opportunities located at leading, top-tier universities throughout the nation. Inland Real Estate Investment Corporation Inland Private Capital Corporation University Partners Mark Cosenza Keith Lampi Carlie Cresse #Inland #InlandPrivateCapitalCorporation #UniversityPartners #studenthousing #partnership #Lampi #privateplacement #occupancyrate

Lighthouse Life Capital's parent company, Lighthouse Life Strategies Inc., announced the acquisition of select assets from Harbor Life Settlements, the life settlement market’s leading search engine optimization lead generation brand. The acquisition included Harbor Life’s websites, data, and technology. #private   Lighthouse Life Solutions Michael Freedman Dustin Moore #placementsponsor #alternativeinvestments #LighthouseLife #acquisition #HarborLifeSettlements #advertising #SEO #technology #lifeinsurance #seniors #investors

UBS Financial Services Inc., the global brokerage firm and investment adviser, has agreed to pay an $850,000 fine as part of a settlement with the Financial Industry Regulatory Authority. #UBS #UBSFinancialServices #alternativeinvestments #brokerdealer #RIA #FINRA #financialservices #adviser #brokerage #registeredinvestmentadviser #fixedannuities #misconduct #privatesecurities

The nine-person team comprising Rally Wealth and Benefits has joined Summit Financial Networks, a Cetera Advisor Networks affiliate. The firm – led by Bruce Glenn, president, and his daughter Kristina Strickland, managing partner – provides comprehensive financial planning and investment advice to clients and had more than $325 million in assets under administration as of March 1, 2024. Cetera Financial Group Cetera Advisor Networks LLC Summit Financial Networks, Inc. Commonwealth Financial Network Kristina Strickland CPFA ®️ Tom Halloran Neil Connolly, CFP® #Cetera #CeteraAdvisorNetworks #SummitFinancialNetworks #alternativeinvestments #RIA #brokerdealer #registeredinvestmentadviser #financialservices #Commonwealth #Kansas #RallyWealthandBenefits

Interval funds had a combined aggregate net asset value of $86.4 billion as of the end of the second quarter in 2024, an increase of 10.9% from the prior quarter. In Q2 2024, nine new funds became effective and 11 more filed new registration statements. There are now nearly 40 pending registrations. Robert A. Stanger & Company, Inc. Cliffwater Randy Sweetman Michael Covello, MBA Michael O'Neil #Stanger #alternativeinvestments #intervalfunds #privateequity #netassetvalue #NAV #registrations #Cliffwater #infrastructurefocusedfunds #infrastructure #StoneRidgeTrustII #ACAPStrategicFund

The U.S. District Court for the Middle District of Georgia entered a final judgment against George Iakovou, in a U.S. Securities and Exchange Commission case alleging that he fraudulently offered and sold more than $6 million of securities to at least 46 individual investors in multiple states including California, Georgia, and New York. #NewYork #Georgia #California #SecuritiesandExchangeCommission #SEC #alternativeinvestments #IPO #initialpublicoffering #securitiesfraud #VikaVentures #GeorgeIakovou #scheme

Financial advisers Justin Gore, JD, and Michael Fusco, CRPC, have joined LPL Financial’s broker-dealer, registered investment adviser, and custodial platforms to launch a new independent practice – Integrity Financial Group. They reported serving approximately $475 million in advisory, brokerage, and retirement plan assets and join LPL from Ameriprise. LPL Financial Ameriprise Financial Services, LLC Michael Fusco Scott Posner #financialservices #wealthmanagement #LPLFinancial #Ameriprise #brokerdealer #RIA #registeredinvestmentadviser #SouthCarolina #MGPrivateFinancial #IntegrityFinancialGroup #retirementstrategies #estateplanning