Most popular stories from January 17 to January 23.
Brokers who brought a ‘constructive discharge’ claim against the firm in 2017 have agreed to repay the balance on six promissory notes, according to an arbitration award.
Lawsuit claims Wells Fargo Advisors violated Missouri and federal law by failing to pay overtime wages to client associates who regularly work more than 40 hours a week.
Dallas broker was discharged in Morgan Stanley’s continuing pursuit of advisors who allegedly cheated retired advisors on accounts they passed along.
Treasury Secretary-designate Janet Yellen refrained from making specific pledges on boosting individual tax rates in responses to questions from U.S. senators, pledging only to work with lawmakers on the issue of whether households earning up to $400,000 a year would face increased levies under Biden administration proposals.
Purchase of Spokane-based Hart Capital Management by Mercer Global Advisors in December was the RIA rollup’s fifth closing that month.
Princeton, NJ, advisors say Morgan Stanley is soliciting clients they brought with them when they moved from UBS in 2010, in violation of written and verbal agreements.
Morgan Stanley’s October acquisition of E*Trade spurred a big gain in quarterly trading and net interest income, along with soaring integration costs.
Morgan Stanley traders cashed in during the waning months of 2020 to round off the bank’s best year on record.
Net new assets rebounded and customer balances hit a record thanks to rising markets and a renewed focus on prospecting by Merrill’s “thundering herd.”