News
Sex and the Small Branch: Does Edward Jones’ Model Invite Harassment?
Former branch office administrator says verbal and physical abuse was facilitated by the two-person office structure characterizing most of Jones’s 13,000-plus branches.
Merrill Advisors Shine on Loan Growth But New Asset ‘Flows’ Stall
Net income at Merrill Lynch Wealth and U.S. Trust grew by 20% from last year’s second quarter to $968 million but declined from the first quarter’s record $1.04 billion of profit.
Goldman Sachs Seen Naming Solomon as CEO This Week, NYT Says
Goldman Sachs Group Inc. is poised to take another step in the slow exit of Lloyd Blankfein, its longstanding chief executive officer.
Top Stories of the Week: Two Morgan Stanley Complex Managers Out
Most-read articles from July 9 through 14.
Ex-New York Pension Director Gets 21 Months for Pay-to-Play
A former portfolio manager for New York’s main pension fund must serve 21 months in prison for accepting gifts including concert tickets, drugs and luxury watches from brokers in exchange for steering billions of dollars in business to their firms.
NJ Broker Sues Wells Advisor for Calling Himself a ‘Financial Quarterback’
Independent broker Josh Jalinski has charged dozens of competitors with illegal procedures for using a sports-derived phrase he says he trademarked.
Wells Fargo Wealth Profit Off 37%, Broker Counts and Bank Referrals Fall
Scandal-plagued bank put aside $114 million in second quarter to refund customers in its wealth and investment management division who have been overcharged in past seven years.
JPMorgan Whistle-Blower Gets Record $30 Million From CFTC
The award was the result of information that helped the agency sanction JPMorgan Chase & Co. for failing to properly inform some wealthy clients about conflicts of interest behind its investment recommendations, according to an attorney involved in the matter.
Ex-Ameriprise Broker Seeks to Vacate Finra Panel’s ‘Note’ Award
In reclassifying an arbitration chair from public to non-public panelist, Finra gave a court reason to overturn a $287,000 award, California broker argues in rare courthouse request.
Tax Loophole From 1960s Could Let Wealthy Tap 21% Corporate Rate
An obscure tax provision from the 1960s that was left untouched by President Donald Trump’s overhaul could let wealthy individual investors seize for themselves the largest corporate tax cut in U.S. history.
Booted by Merrill, Chicago PBIG Broker Opens Dynasty-Backed RIA
Bruce Lee, a former top-ranked broker to the very wealthy, has joined with another PBIG alumnus to launch Keebeck Wealth Management.