Raymond James
Morgan Stanley, Merrill, UBS Lose Teams to J.P. Morgan, RayJay and Rockefeller
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.
RayJay Sued for Reverse Churning in Fee-Based Accounts
Class-action complaint alleges firm breached suitability and fiduciary obligations by transferring customers from commission to advisory accounts without proper review.
Raymond James Swallows Expense Rise to Propel Private Client Growth: CEO
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.
Raymond James Gives CEO 8% Pay Hike to $13.4 Million
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.
RayJay Broker Who Jumped from JPMorgan Wins a Non-Solicit Battle
Finra arbitrators denies J.P. Morgan Securities’ request for a permanent injunction against an Indianapolis broker who was temporarily handcuffed from contacting clients.
UIT Rollover Recommendations Sideline Another Broker
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.
UBS Hires from Merrill, Morgan Stanley, Loses Ohio Vet to RayJay
Million-dollar solo practitioners bolster UBS’s U.S. ranks in Atlanta and Newport Beach, but Swiss bank loses a top Ohio producer to Raymond James.
Finra Panel Rebukes Frivolous Customer Claim Against RayJay Broker
Arbitrators grant expungement of unsuitability claim that they found “devoid of any facts,” “meritless” and of “unwarranted harm to the financial advisor.”
J.P. Morgan Wins TRO Against Bank Broker Now with Raymond James
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.
Merrill, Raymond James to Pay $12 Million for 529 Plan Sales Violations
Firms settle charges from the Financial Industry Regulatory Authority that they sold more expensive classes of education savings plan investments when others were available.
RayJay Liable for $3.2 Mln over Broker’s Oil-Gas MLP Sales–Arbitrators
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.
