Jordan L. Zemlock of Marlboro, N.J., has been sentenced to serve up to 10 years in jail and  ordered to return almost $1.5 million to clients after admitting that he pocketed customers’ assets, reports Mycentraljersey.com.

The Consumer Financial Protection Bureau is urging regulators to increase disclosure requirements for advisors because many American don’t understand the differences among the current alphabet soup of designations, reports WealthManagement.com.

In a recent survey, 72% of advisors say they believe terms such as “advisor,” “consultant,” and “planner,” each imply that a fiduciary relationship is in place.