Team who had been with the Swiss bank’s private wealth group for 11 years accept offer from rapidly expanding bank.
FallLine Securities, founded three years ago as a home for “private banking”-level brokers, picks up 14-year UBS veteran in Dallas.
Phil G. Fiore, who was discharged by UBS in November, is hit with a lawsuit aiming to prohibit him and three former members of a $6 million team in Connecticut from soliciting former clients to join his fledgling business.
Jeff Crystal, a longtime Morgan Stanley branch manager, is preaching the virtues of working as an independent adviser through a new unit of a company owned by the son of auto-racing mogul Roger Penske.
Broker who left to care for his children is entitled to his deferred compensation because “arbitration is not only about law, it also about equity and fairness,” Finra arbitrator wrote.
A group with $3 billion in client assets joins in Chicago and a $1 billion-asset duo jumps in New York as Merrill turns off the spigot on big bonuses.
Firm will allow commission accounts but will suspend grid-based payouts.
As Merrill, UBS and Morgan Stanley retreat from costly hiring, field managers at the big firms await new marching orders.
Firm alleges a year after SA left its Toledo, Ohio, office that she is illegally sharing her former colleagues’ customer data with her new associates.
Recruiting loans to financial advisors dropped below $3 billion as the firm focuses on retention rather than new hires.