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Reading Between the Lines of Fed Chair Janet Yellen’s Remarks

The next rate hike won’t be in September, but you can count on one in December.

The top stories of the week.
Morgan Stanley Sues Broker Refusing to Repay $2 Million

Firm tries to recoup promissory note balances arbitrator ordered a New Jersey man to pay.
SEC Whacks 13 Firms for Spreading F-Squared’s Performance Gospel

Blaming distributors for sins of a manufacturer, regulator finds RIAs negligent for marketing outside manager’s fictitious ETF returns.
Ex-Merrill Client Associates File $5 Million Overtime Suit

Class-action claim seeks more than $5 million for CAs who worked at the firm since 2013.

Former southwest regional manager at Morgan Stanley’s advisory unit to help oversee Dynasty’s investment platform.
Morgan Stanley Brokers Combine Forces, Jump to Independence at Wells

Six veterans in Fresno branch with production of about $3 million set up FiNet-affiliated firm.




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Recruiting Wire

Latest Advisor Moves. View full list and rankings

Name New Firm AUM
Kevin Barnes First Republic $360M
Samuel Nunez Bolton Global Capital $125M
Matthew A. Peterson, Michael F. Budd, Randall Gibson, Brian Gibson, Dwayne Michael & Andrew Carrigan Wells Fargo Finet N/A
Vivan Lin & Han Lin Morgan Stanley $250M
Cody Lummus Lear Investment Management $50M