Joe Chu and partner Chris Phillips leave after a combined 30 years, saying they were frustrated with wirehouse’s growing intolerance for deviation from model portfolios.
Will pay headhunters a minimum of $25,000 for new hires who qualify for a program aimed at up-and-comers with three to eight years of experience.
Tells brokers it underestimated how upset many customers were over losing an IRA account choice available at most competitors.
As of early next month, firm will follow some large rivals in sweeping brokerage account cash into a bank deposit account that generally yields less for the client than a money-market account.
A senior Merrill Lynch retail executive allowed investment banking relationships between Bank of America and a third party to override standard due diligence procedures regarding separately managed account products.
Arbitrator in Cincinnati orders expungement of firm’s claim that employee was fired for using a corporate credit card for personal expenses.
Firm applauds success of 2018 comp plan focused on new-asset and account, despite pay clawbacks from almost 4,900 advisors.
Spins its three Nevada offices into an independent market and shifts responsibilities of some California managers.
Less than a week after suing Ohio brokers who jumped to independent firm, brokers agree to avoid solicitation while former employer lets them send “tombstone” letters to former clients
Veteran manager Deborah Shepherd takes reins of seven-branch Short Hills complex while Nik Totaro moves from Long Island to run Stamford-area offices.