A South Carolina broker who ranked in Forbes’ Top Woman Advisor poll this year was among several let go for alleged UIT sales violations.
Revenue generated by the Florida-based firm’s burgeoning brokerage force rose 12% last quarter, but rising legal and compensation costs contributed to an 8% decline in pretax profit at its wealth division.
A duo managing $190 million in West Palm Beach and an associate complex manager in Aventura bolt for the Florida-based broker-dealer’s employee channel.
Industry veteran of 41 years says he had been frustrated by declining access to syndicate business.
After payout cuts last year, firm tells its approximately 3,100 employee-brokers that it won’t rock the boat in the upcoming compensation plan.
Charlie Eldemire leaves RBC in Houston to run his hometown Dallas RayJay branch, while Cathy Galgano shifts from Chicago suburb to run MS complex on Park Avenue.
Miami broker helped his father-in-law execute a $200 million fraud that earlier led Raymond James to more than $165 million of regulatory settlements.
Another team leaves the ex-Protocol wirehouse for the Florida-based regional, carefully coached on how to move within the bounds of its members’ employment contracts.