Traditional strongholds of wealth, such as New York and Los Angeles, are losing a segment of their HNWIs to other cities across the country and abroad.
James Arthur McDonald Jr. appears to be on the lam as he faces as much as 20 years in prison for allegedly defrauding investors, according to the Justice Department. The SEC also filed a complaint against the California-based advisor and frequent CNBC commentator.
The seven advisors collectively had about $1.2 billion in managed assets, according to the Wells Fargo Advisors' suit against former in-house counsel Steven Satter, who joined his colleagues at the independent firm.
Join us on Tuesday, Oct. 4th as an array of experts talk about how advisors can build more inclusive practices that attract and retain employees who look like—and understand—the diverse client bases they serve.
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