Morgan Stanley team with $6.5 million and Merrill team generating $3.3 million in revenue bring Rockfeller’s brokerage force to 44 teams.
Most popular stories from January 10 to January 16.
Merrill brokers added about 20,000 net new households last year, compared to 35,000 in 2019, but given the pandemic executives say they are pleased.
The firm’s profit rose 157% compared to the year-ago quarter even as its sales force fell another 2% in the quarter to 13,513.
Rockefeller hires its second Merrill team in Chicago while RBC recruits two teams with $900 million combined from the same UBS branch in Nebraska.
Broker declined to cooperate with regulator’s investigation into Merrill’s claim that he made inappropriate investment recommendations.
Family-led team of four advisors who managed $386 million returned to Morgan Stanley, where they began their careers after more than nine years at competitor.
New Jersey advisors “flagrantly” violated their employment agreements by calling former clients and using confidential information, wirehouse says in new lawsuit.
Biggest brokerage firm by number of advisors says its force fell by more than 100 in fourth quarter, but 2020 revenue and profit grew due to rising markets and expense cuts.
Independent broker-dealer Sanctuary has landed its 42nd team since its 2018 launch while Snowden says it wooed a former billion-dollar Merrill broker back to the business.