In letter to Hilliard Chief Executive James Allen, Stifel CEO Ron Kruszewski promoted his firm as a stronger nurturer of financial advisor talent, sources said.
Failure to follow up on suspicious emails and garnishment orders could have alerted firm to risks posed by broker who catered to pro athletes and who was later convicted of felonies.
Apart from a cut to experienced advisors at the bottom of the food chain, firm keeps changes to a minimum for the more than 9,000 brokers in Private Client Group.
Firm requested more than $938,000 from New Jersey broker it accused of taking confidential data in breach of his employment contract, and was awarded $5,500.
A major Times Square development has secured more than $780 million in new equity, including about $400 million from UBS Group AG’s ultra-high-net-worth and family office clients.
Florida advisor argues that an arbitrator’s quick designation shift to public from non-publication arbitrator invalidates the October promissory notes decision.
Morgan Stanley raised $1.4 billion, almost three times its initial target, for a new private investment fund that will source deals using its own investment bankers and wealth managers.
Alleges that six-broker team in Illinois that joined Stifel two months ago lied about their possession of client-contact data—violating their employment contracts and their new firm’s “Non-Protocol Transition Guide.”