Father-son team overseeing $2.5 billion in assets resigned on Friday, sources said.
Request for TRO claims 30-year veteran who tracked clients on his Rolodex illegally solicited customers before and after his departure.
Together with another family member, brokers who are jointly based in Arizona and California were overseeing about $455 million of customer assets prior to their move last week.
“Foot faults matter” when it comes to brokers’ failure to disclose even seemingly innocuous events in their financial lives, compliance experts say.
“I didn’t leave Merrill Lynch,” New Jersey advisor says. “I left Bank of America.”
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.
Finra arbitrator grants Florida resident full amount of damages and lawyers’ fees sought over her purchase of energy partnership notes.
RBC Wealth’s recruiting head Michael Parker and Merrill’s Dallas market manager Michael Armondo, each of whom have 24 years of brokerage experience, will join to build Greg Fleming’s enterprise in the Northeast and Texas.
RBC continues aggressive hiring pace with new $2 million producer in Manhattan, while Long Island team generating $4.5 million starts independent firm with Schwab’s help.
Finra accuses former RBC broker of quickly wiring money to an outside checking account after he was credited with a foreign stock valuation that was widely off the mark.