Investment Advisers

Feds probe whether HDG Mansur took millions from clientRestricted Content

May 10, 2014
Scott Olson
HDG Mansur has divulged in court documents that it’s the target of a federal criminal probe for allegedly skimming millions of dollars from a client.
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Kirr Marbach fund wins top Lipper recognitionRestricted Content

March 22, 2014
 IBJ Staff
Columbus, Ind.-based Kirr Marbach & Co. LLC is furthering its reputation for smart stock picking among the nation’s investment advisers.
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Charles Schwab may move jobs from California to Indiana

February 6, 2014
Associated Press
Charles Schwab Corp. said Thursday it is planning to move about 1,000 jobs out of San Francisco over the next three to five years.
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Investment manager sees good growth prospects for 2014

January 4, 2014
Norm Heikens
Tom Pence predicts change for U.S. manufacturing.
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Finish Line shares continue climb after upgrade

November 25, 2013
Associated Press
Two investment analysts raised their ratings for Finish Line on Monday, saying the Indianapolis-based athletic shoe and clothing retailer has the opportunity for margin recovery and a stronger online performance.
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Parade of settlements continues for local securities firmsRestricted Content

October 19, 2013
Chris O'Malley
A third securities firm in the region has been slapped with sanctions by federal regulators.
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Investment rep fined over disclosure rulesRestricted Content

September 28, 2013
 IBJ Staff
A Bartholomew County investment representative will pay a $20,000 fine under an agreement with regulators over allegations he failed to make proper disclosures in research reports.
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Mighty Oxford Financial loses big case with clientRestricted Content

July 20, 2013
Greg Andrews
An arbitrator ordered the Carmel financial-advisory firm to pay $2.2 million to Reid Hospital & Health Services of Richmond. The dispute involved a delay in executing trades in 2011 that the hospital alleged cost it $2.5 million.
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Regulators suspend broker for not disclosing bankruptcyRestricted Content

July 20, 2013
FINRA fined Zionsville financial adviser Stephen W. Bracken $5,000 and barred him from affiliating with a member firm for three months.
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State pensions' strategy shift causes manager fees to riseRestricted Content

July 28, 2012
Kathleen McLaughlin
The $25.3 billion Indiana Public Retirement System is in the midst of hiring managers to carry out a strategy where more money will be in hedge funds, private equity and real estate than stocks.
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State securities regulators strike deal with E-Trade

June 13, 2012
 IBJ Staff
The Indiana Securities Division has finalized a settlement with financial-services firm E-Trade following accusations that the company misled Hoosier investors about the safety of auction-rate securities, Secretary of State Connie Lawson said Wednesday.
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At 92, Danielson's banking career is still goingRestricted Content

May 19, 2012
Sam Stall
City Securities co-chairman still dispenses wisdom accumulated over a career touching on everything from baseball to folding doors.
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Hauke receiver files suit to recover $600K from Arizona investor

April 11, 2012
J.K. Wall
Attorney William Wendling will try to collect $1 million to $2 million from a handful of investors in Samex Capital Ponzi scheme.
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Two charged in $2.2M scheme against Colts' Freeney

March 28, 2012
Associated Press
A financial adviser for Indianapolis Colts defensive end Dwight Freeney and the adviser's lover have been arrested on federal wire fraud charges that allege they swindled about $2.2 million from the lineman.
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Client seeks lost revenue from Oxford FinancialRestricted Content

March 24, 2012
Greg Andrews
Reid Hospital & Health Care Services in Richmond alleges the financial adviser's delay in selling investments cost the hospital more than $2.5 million.
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Ex-investment manager Hauke gets 10 years for fraud

March 23, 2012
Scott Olson
Keenan Hauke of Fishers, who pleaded guilty to securities fraud in December after costing hedge fund clients $7 million, received a 10-year federal prison sentence Friday morning.
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Teachers trust fund broker reaches settlement

March 13, 2012
David Karandos, a broker who advised the Indiana State Teachers Association Insurance Trust before it collapsed in 2009, has reached a settlement. Karandos agreed to a 75-day suspension from working in the securities industry and may pay up to $50,000 in restitution.
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Tax credits spur city apartment constructionRestricted Content

February 18, 2012
Scott Olson
Increase in federal funding helps developers finance projects that include mixed-income rental housing.
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Feds: Hauke OK'd disastrous real estate investments

December 14, 2011
Greg Andrews
Prosecutors allege Fishers investment manager Keenan Hauke hid losses for seven years by shifting assets among accounts and using new investors’ money to fund withdrawals.
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More Hoosier investment advisers will be regulated by stateRestricted Content

October 15, 2011
 IBJ Staff
The federal Dodd-Frank act shifts firms from Securities and Exchange Commission oversight.
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Dividend-paying investments becoming more attractiveRestricted Content

September 17, 2011
Scott Olson
Indianapolis-based Woodley Farra Manion Portfolio Management has rolled out an equity portfolio stacked with nothing but dividend-paying stocks that can provide a reliable source of income.
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Dynasty trusts growing in popularity among super-richRestricted Content

September 17, 2011
Francesca Jarosz
A tool allowing the super-wealthy to pass assets from one generation to the next without paying taxes is resurging among Hoosier investors.
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LEADING QUESTIONS: Investment guru on calming clients

September 2, 2011
Mason King
LQ_Bosway_watchvideoWhat does the CEO of City Securities Corp. say when shell-shocked investors want to sell? Does the recent market slide point to a return of 2008? Where are the opportunities? Michael Bosway has answers.
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State makes $31M settlement with securities firm

August 24, 2011
Raymond James has agreed to return $31.2 million to Indiana investors by repurchasing some auction rate securities. The firm also will pay fines totaling $63,000.
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Probe: Investment adviser Hauke masked huge loss

August 20, 2011
Greg Andrews
Fishers investment manager Keenan Hauke suffered massive losses in his hedge fund seven years ago. Then, rather than fess up, he generated fake account statements for clients that showed money they didn’t really have and returns they hadn’t earned, state investigators allege.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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