Ameriprise lost a net 59 advisors last quarter to end the year with 9,871, while Stifel added 30 to end 2019 with a force of 2,222.
Leaders of big independent brokerage team now with Ameriprise can expunge regulatory records that say FiNet “disaffiliated” them over annuity sales violations.
Boca Raton team of Norm and Michael Robbins, top Summit producers, had worked with Summit founder Marshall Leeds for more than 20 years.
Four-advisor group in Bakersfield, Calif., stays independent with Ameriprise’s franchise division.
UBS broker with $700,000 in production said he craved more attention to serve his 150 household accounts.
Outcry came from brokers in “franchise channel” who could have been charged as much as $2,000 monthly for using the discretionary advisory account platform.
Will charge $750 to $2,000 a month to brokers who manage portfolios on discretionary fee platform to help offset development and regulatory costs, but some advisors say they are bearing the brunt of revenue-sharing declines.
After a single day of evidence, arbitrators tell Edward Jones and Nevada broker who moved to Ameriprise to have a court dissolve an order restraining his customer solicitations.
A father-and-son team left Stifel after the firm refused to let it hire an advisor from Wells Fargo.
A Nevada broker who moved 11 household accounts since leaving Jones at the end of October has been ordered to refrain from contacting former clients for two weeks.