News
UBS Loses $3 Million-Duo in San Francisco to First Republic
Team who had been with the Swiss bank’s private wealth group for 11 years accept offer from rapidly expanding bank.
SEC Chair Endorses Enhanced Disclosure on Advisors
New SEC boss Jay Clayton says regulator wants to “simplify and enhance tools…to help investors conduct background searches on their investment professionals.”
What’s In the Drinking Water at Morgan Stanley’s Jersey Offices?
Complex manager William Shinners to retire at age 60, following a rash of other metropolitan New York middle-management exits.
Oppenheimer Gets Another “Critical” Report Card, Makes No Remedial Promises
Law firm run by former SEC chairman scrutinized internal audits after previously criticizing Opco’s corporate governance, management and compliance programs.
Emigres Ramp Up Rhetoric Against Wirehouses
Fifteen-year big-firm vet in Memphis goes independent, saying supporting clients’ need “became impossible” with all the bureaucracy.
One Seasoned Manager Returns to Merrill, Another Old Pro Leaves Wells
After one-year hiatus with SunTrust, Dwight Mathis returns to run Long Island branches for the Thundering Herd while Wells’ Kevin Ortmeyer leaves after 25 years in Illinois for Stifel.
Former UBS Private Wealth Leader Straus Nabs First Client as IBD
FallLine Securities, founded three years ago as a home for “private banking”-level brokers, picks up 14-year UBS veteran in Dallas.
UBS Ruins Coming-Out Party for Fired Broker’s New RIA Firm
Phil G. Fiore, who was discharged by UBS in November, is hit with a lawsuit aiming to prohibit him and three former members of a $6 million team in Connecticut from soliciting former clients to join his fledgling business.
Elder Abuse Case Highlights Challenge for Brokers and Other Top Stories
Most popular stories and comments from June 12 through 17.
As Wirehouses Narrow Recruiting Doors, Manager Finds New Pasture
Jeff Crystal, a longtime Morgan Stanley branch manager, is preaching the virtues of working as an independent adviser through a new unit of a company owned by the son of auto-racing mogul Roger Penske.
Jefferies’ Retail Unit Loses Senior Manager, Top Broker
The small brokerage unit of the New York-based investment bank bid farewell this week to Chief Operating Officer Frank Scheuer and $3.25 million-producer Rick Davidson, both Credit Suisse/DLJ veterans.