Hull reminds brokers that non-solicitation agreement will govern those who leave after accepting bonuses.
Separately, a veteran Beverly Hills broker with around $730,000 left for Wells Fargo Advisors.
Christine Carona was a star broker at UBS Group AG. In the Boston office, she managed more than $300 million and was a member of the President’s Council, an elite club for top producers.
Finra arbitration panel granted former advisors who previously settled claims for some $30 million expungement of scores of customer complaints related to closed-end Puerto bond fund sales.
A Wisconsin broker now with Morgan Stanley must pay off $436,000 balance on his promissory notes but wins exclusive use of a marketing name for his plan sponsor practice.
Moves add to a steady stream of departures from the Swiss bank’s U.S. brokerage business as regional firms lay down the welcome mat.
Roger W. Burton, who has run UBS branches in Ohio, Kentucky, Minnesota, Arizona and L.A. over a career going back to 1987, hops to manage a competitor’s advisors.
Emphasize the “big numbers” large producers can earn over a long UBS career and the “unrealistic” sales targets that competitors set when offering back-end bonuses, it says in presentation.
Bruce D. Smith, whose “Sports Consulting Group” includes a former NFL star and whose social media sites feature an array of client athletes, has left the wirehouse following an investigation.