Syracuse, NY | March 9, 2023 Pinnacle Investments, LLC has been recognized as one of the 75 Best Places to Work for Financial Advisors as reported by Forbes. However, the company is currently facing legal troubles with the Securities and Exchange Commission (SEC). The SEC charged New York-based Pinnacle Advisors and several mutual fund trustees with aiding and abetting false and misleading statements about the liquidity of certain assets to the funds' investors.
The SEC complaint says Pinnacle knowingly misrepresented the liquidity of some assets to satisfy liquidity requirements. The SEC also alleges that Pinnacle Advisors failed to implement policies and procedures designed to prevent violations of the Investment Company Act of 1940. The charges carry potential fines and penalties, and the case is ongoing.
To get a sense of who is truly in control of Pinnacle Investment Management Group Limited (ASX:PNI), it is important to look at the institutional ownership of the company. Institutional investors hold a significant stake in Pinnacle Investments, with BlackRock being the largest shareholder at 5.7% of the outstanding shares. Other top institutional investors include Vanguard Group, Dimensional Fund Advisors, and State Street Global Advisors.
Pinnacle Investments LLC, a financial services firm headquartered in Syracuse, has named Monica Coles chief compliance officer. Coles will be responsible for overseeing the company's policies and procedures to ensure compliance with regulatory requirements. She brings over 20 years of experience in the financial services industry to her new role.
The U.S. Securities and Exchange Commission filed suit on Friday against investment adviser Pinnacle Advisors LLC, two of its officers, and a former trustee of a fund advised by the firm. The SEC alleges that the defendants made false and misleading statements about the liquidity of certain assets held by the fund in order to meet redemption requests. The defendants deny the allegations and plan to fight the charges.
Australia's Pinnacle Investment Management Group Ltd. is on the hunt for deals in the UK and Europe after the market correction made valuations more attractive. The company is looking to expand its reach in the region through acquisitions and partnerships with local firms. Pinnacle has already made a number of acquisitions in Australia, including a 51% stake in Coolabah Capital Investments and a 75% stake in Solaris Investment Management.
Pinnacle Investments lost ground after missing analysts' forecasts, but the tech sector helped the benchmark eke out a gain as investors bet on continued growth in the sector. Pinnacle's stock fell 2.5% to close at $26.50, while the S&P 500 rose 0.1%. The company's revenue for the quarter was $450 million, below the consensus estimate of $462 million.
September 22, 2022 – Syracuse, NY – This week AdvisorHub announced the official results of their first-ever Advisors to Watch lists. Pinnacle Investments was included on the list, which recognizes top-performing financial advisors who have achieved significant growth in their practices.
