Janney says new hire in Virginia was managing $300 million at Merrill, while RayJay says its Michigan recruit managing $115 million at Morgan Stanley moved for the “freedom to truly own and run my practice.”
Regulator fines and suspends a California broker, despite his success in expunging allegations of purloining client information when he left Merrill for Raymond James.
Regulator fines and suspends a novice broker who J.P. Morgan fired for moving customer money to higher-paying money market funds without authority and a senior former RayJay and UBS broker who took loans from a friend and customer without permission.
Raymond James reassured managers this week that in spite of companywide expense cuts, it will not fiddle with grids or other core parts of advisor pay in its employee channel.
Brokers on Thursday have been delayed or are unable to view client contact data and holdings through their workstations due to vendor hardware issues.
Chicago broker dismissed from Morgan Stanley’s private client unit after he was pictured in an inappropriate social media posting lands at Raymond James’ high-net worth Alex. Brown unit.
Trio with 106 years of experience left Wells Fargo for RayJay’s Alex. Brown UHNW division, while seven-person UBS team opens a Kansas City for Raymond James and Associates.
Brokers who lost their jobs for reusing client signatures on approved transactions, in one case, and making discretionary trades with customers–but not firm–approval in two others, are fined by Finra.
Wirehouse adds production from Merrill in Ohio and from RayJay in Florida, and promotes branch business manager to oversee Southwest Florida complex.