A 19-year Raymond James broker jumped last week, but most moves have been delayed by coronavirus travel bans and nerves.
Biggest retail brokerage bars client access to its more than 15,000 offices and home visits by brokers as firms seek to flatten the coronavirus contagion curve.
Virginia advisers with long Merrill lineage said they were managing $900 million of client assets.
Stifel hires pair who were managing $432 million collectively at Merrill and Morgan Stanley, RayJay lures Wells Fargo veteran in Florida overseeing $180 million.
Father-daughter team in New York join another Morgan Stanley alum at J.P. Morgan, Merrill advisor in Virginia producing $1.7 million arrives at Raymond James, and Rockefeller hires a $1.2 million producer in Washington.
Class-action complaint alleges firm breached suitability and fiduciary obligations by transferring customers from commission to advisory accounts without proper review.
Compensation and administrative expenses in Raymond James private client division jumped 7% last quarter, and profit was down 7%, but firm has no plans to retrench.
Forty percent of CEO Paul Reilly’s performance awards in a record year for profit and revenue were paid in cash, Florida company says in its proxy statement.
Finra arbitrators denies J.P. Morgan Securities’ request for a permanent injunction against an Indianapolis broker who was temporarily handcuffed from contacting clients.
Finra suspends former Raymond James independent broker and fines him, highlighting UIT sales issues that led the Florida firm to a $15 million settlement with the SEC.