The parent of City Securities Corp. finds itself at a crossroads with the May death of its 95-year-old vice chairman, Danny Danielson, and with his brother-in-law, Chairman John Peterson, approaching 83 years old.
Cooke Financial Group LLC, which oversees $1.7 billion in assets, is parting ways with Wells Fargo Advisors LLC. Principals Chris Cooke and Brian Cooke have bought into Chicago-based Noyes and will run the largest of its seven offices.
The sale ends a 92-year run of ownership by the Peterson family, which opened the business five years before the onset of the Great Depression and built a preeminent position in the municipal bond business that continues today.
Regulators said Fishers attorney and securities broker Jeffery Bruce Risinger refused to testify about his involvement in what the SEC claims was a multimillion-dollar Ponzi scheme—so they banned him for life.