After wooing clients at Bear Stearns and its successor bank for more than 20 years, David Pollock and Alan Solursh hang their hat with another Morgan.
Federal agency rules that JP Morgan owes Arizona-based advisor Johnny Burris back-pay, punitive damages and expungement of his regulatory record.
Two brokers and two associates who brand themselves as theUgroup, follow three other multi-million dollar teams who left legacy Bear Stearns branches in California for wirehouses.
The new administration’s regulatory reform efforts are unlikely to affect new retirement sale standards.
The Louisiana group’s contact with Morgan clients holding $1.4 billion at the bank allegedly violated employment agreements.
Merrill agrees to pay California brokers for parking, prospecting calls and other outlays, while JP Morgan agrees to $500,000 settlement over private banking lapses.
Social media posts—even on private accounts—can violate non-solicit agreements, attorneys warn.
Former broker Johnny Burris says regulatory complaint was unduly influenced by his former employer.
The lifelong Bear Stearns/JPM regional director is at least the third multi-million-dollar broker to jump from Morgan to Morgan Stanley in southern California this year.