Raymond James
LPL Looks Beyond Indie Roots with New Employee Channel
With upcoming purchase of small regional broker-dealer, LPL embarks on plan to compete more directly with traditional brokerage firms, LPL CEO Dan Arnold said on Wednesday.
Wells Loses Teams Managing $796 Million to RayJay, Ameriprise
Quasi-independent team in Richmond with some $2.7 million of production joins RayJay’s “AdvisorSelect” channel, while 21-year Wells complex director in Omaha brings team to Ameriprise employee channel.
Why I Left That Firm: Brokers Use Videos to Explain Move to Clients
Heads of $450-million Merrill team and $340-million Wells Advisors team explain their motivations in frank messages to former clients about their new and old firms.
Raymond James, Ex-Broker Lose $1.8 Million Penny Stock Arbitration
Award for investment losses, punitive damages and witness and attorneys’ fees involves a former Morgan Keegan manager whose alleged failure to supervise earlier cost RayJay $762,000.
Wells Teams in Texas, North Carolina, Washington Go Independent
Dallas team shifts to firm affiliated with Raymond James, Greensboro group joins broker-dealer Woodbury and $650-million AUM team in Seattle stutter-steps to Wells’ RIA channel.
Morgan Stanley, UBS Lose Multi-Million-Dollar Brokers to RayJay and RBC
Morgan Stanley broker in Boca Raton was producing $2 million after 32 years in the industry, while 30-year Pittsburgh-area veteran broker who left UBS generated $3.2 million in past 12 months.
Ameriprise, RayJay Want Wealth Firm Acquisitions–CEOs
Ameriprise CEO will spend a “lot more time” scouting team lift-outs and small independent firms and RayJay chief is “ready, willing and able” to buy but sees few willing candidates.
RayJay Resolves Class-Action Suits Alleging Hidden Commissions: Court Filing
Plaintiffs claiming they were charged excessive execution and clearing fees in self-directed fee-based accounts say they have reached a settlement.
Merrill and Morgan Stanley Brokers Shift to Stifel, RayJay and Wells’ FiNet
Merrill loses three “next-gen” advisors under the age of 40, while six brokers at Morgan Stanley and Merrill go independent.
Merrill Michigan Team Producing $4 Mln Joins Raymond James
Team of four advisors is led by 27-year industry veteran who had worked at the Bank of America company for almost 12 years.
Top Stories of the Week: Judge Denies Morgan Stanley TRO, Merrill Manager Joins RayJay, and More
Most popular stories from 3/24 – 3/30.
