Merrill focuses on career changers while Edward Jones launches campaign to hire veteran brokers.
Most popular stories March 26 to April 1.
Seeks $1 million and from broker who took client contact information to a rival firm.
Accuses Oklahoma advisor of filling out a blank check for $22,000 from a customer with dementia, picking up another $22,000 in cash from him.
Trading revenue plunged 18% at the mass-market broker last year while fees were up 8%.
Edward Jones has officially backed off its 20-20 Vision plan of employing 20,000 brokers by 2020, but remains in contention to be the world’s biggest broker-dealer by that time.
Brokers described the product as a low-fee managed account that complies with the forthcoming rule’s near-ban on commissions for retirement sales.