High-net-worth brokers in Los Angeles with backgrounds at AllianceBernstein and J.P. Morgan joined Wells’s ‘private wealth advisor group’ aimed at brokers servicing $5 million-plus clients on Tuesday.
U.S. equity positioning looks “extremely” stretched after the recent rally to an all-time high, which increases the risk of a modest pullback in the next month, according to Goldman Sachs Group Inc.
Arbitration panel OKs expungement of complaint that no advisor called a client to discuss his managed account when markets were tanking early this year.
Former J.P. Morgan broker and manager sold names and account values of some customers to another firm’s rep for $7,500.
Global financial regulators said JPMorgan Chase & Co. was no longer the world’s most systemically-important bank, recommending a lower capital burden for the firm and several of its rivals.
J.P. Morgan Securities remarkets brokers as “wealth advisors” to distinguish them from bank brokers, carves out a subsector servicing UHNW families and plans to hire 50 advisors annually.
Arbitrators in Indianapolis deny J.P. Morgan Securities’ bid to collect at least $1.5 million from three brokers who joined Raymond James more than two years ago.
Gwen Campbell, a $4-million-plus producer at Merrill Private Wealth, joined J.P. Morgan Securities with her three associates on Wednesday.
J.P. Morgan Securities emigrees to RBC have 89 years of experience and a big book of music and entertainment clients, while its new arrivals had been with Morgan Stanley and predecessors for 87 years.
J.P. Morgan beat Q3 earnings expectations on strong trading results and improving credit, and its wealth management sector added net advisors.
Bank will charge $35 monthly service fee as of November 8 on checking accounts below $150,000 in its mass affluent unit.