Oppenheimer
Morgan Stanley Terminates Broker over College Admissions Scandal
Pasadena advisor Michael Wu was discharged in March for not cooperating with an internal investigation
College Scandal Mastermind Says He Worked with Wealth Firms
Rick Singer’s admissions coaching website says Morgan Stanley, UBS, Opco and Pimco offered his services to clients and executives.
Oppenheimer Proposes Mutual Fund Share-Class Settlement
New York firm seeks to pay $3.5 million to clients who bought share classes that paid 12b-1 fees when less expensive classes were available.
LPL, Stifel Talk Up Recruiting Despite Weak Q4 Arrivals
LPL’s army of independents fell a net 65 during the quarter due to the loss of a large firm, while Stifel added a net three brokers and Oppenheimer continued to let loose low producers.
Auction-Rate Woes Dissolve for Oppenheimer and a Merrill Broker
Oppenheimer takes $6 million hit to put decade-old problem with the illiquid instruments behind it, while a California broker wins expungement of claim she sold auction rate securities without proper disclosure.
Oppenheimer Wealth Boss Mark Whaley to Pass the Baton
New York firm says insider Ed Harrington will move from its asset management unit to head the firm’s private client group in February.
Celebrity Analyst Carter Worth Loses Expungement Bid in Oppenheimer Arbitration
Customer who sought $3.5 million from Opco for unsuitable trading wins $800,000, and his broker and a former Opco chartist lose bids to have complaints expunged from their regulatory records.
Oppenheimer Expands Stock Plan Business with Hire from UBS
California-based broker is one of two leaving UBS in the Golden State in recent days, the other in more secretive circumstances.
Aging Broker Workforces Challenge Growth
Regional firms do a lot of talking about roaring ahead with recruiting while wirehouses slow down, but at least two firms concede they are not hiring as quickly as their experienced brokers are retiring.
Oppenheimer Plans Indie Channel, Shifts California Managers
Embryonic unit being formed under former LPL Financial executive Derek Bruton, who hands reins of Newport Beach office to former Merrill manager.
UBS Wins It All in $611K Claim Against Long Island Broker
Arbitration panel awards UBS full promissory note claims and legal fees from a broker who left after just over one year for Oppenheimer.
