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.
Arbitrators grant expungement of unsuitability claim that they found “devoid of any facts,” “meritless” and of “unwarranted harm to the financial advisor.”
Broker who worked at a Chase Bank branch in Indianapolis must stop soliciting former clients from his new base at an Indianapolis RayJay office, federal judge rules.
Firms settle charges from the Financial Industry Regulatory Authority that they sold more expensive classes of education savings plan investments when others were available.
Firm must pay 27 customers but a Louisiana branch manager can expunge failure-to-supervise claims because he had “insufficient” tools for monitoring “excessive levels of concentration,” arbitrators say.