News
This Week’s Top Stories: Merrill Brokers’ Cold-Calling Blunder, Advisor Group to Buy Ladenburg, and More
UBS Brokers Win $1.6 Mln from Credit Suisse in Deferred Comp Case
Manhattan advisors are the sixth former Credit Suisse team to convince arbitrators that Credit Suisse illegally withheld their deferred compensation.
Ladenburg Contractually Limits FA Retention Bonuses Ahead of Sale
Merger document with Advisor Group restricts aggregate payments to Ladenburg’s 4,400 brokers and prospects to $5 million in aggregate and $500,000 individually.
T. Rowe, Fidelity Score Green Light for ETFs That Hide Holdings
The U.S. Securities and Exchange Commission said it plans to approve active non-transparent ETFs from T. Rowe Price, Natixis, Fidelity and Blue Tractor, according to filings on Thursday.
Morning Brief: UBS Fined by Singapore for Deceiving Rich Clients
Top stories from around the web.
Edward Jones Wins TRO Against Broker Who Joined Ameriprise
A Nevada broker who moved 11 household accounts since leaving Jones at the end of October has been ordered to refrain from contacting former clients for two weeks.
Merrill Ousts Three Southwest Brokers over Cold-Calling
A producing manager in Arizona and a Forbes-ranked team in Scottsdale and Dallas that won internal recognition for their account growth metrics left over solicitation practices “inconsistent with Firm standards.”
Schwab Boosts Brokerage Accounts by 31% After Fees Cut to Zero
Charles Schwab Corp. attracted new brokerage accounts at a faster pace in October after offering commission-free trades on funds and stocks.
Ken Fisher Asked Women to Appear in Ads. Not All Were Happy About It
“A lot of observers would wonder, ‘Did they really have much choice to appear in the ad?’”
Morning Brief: U.S. Stocks Drift to Another High, Despite Trade Jitters
Top stories from around the web.
Fidelity, Schwab, Vanguard Outrank Wirehouses in Prospect Recognition–Cerulli
New survey of brand familiarity finds discount brokerage giants trouncing wirehouses in “unprompted” name recognition across a wide wealth spectrum of investors.
A 24-Year-Old Is Suing Pension Fund for Not Being Green Enough
Mark McVeigh, a 24-year-old environmental scientist from Australia, won’t be able to access his retirement savings until 2055. But, concerned about what the world may look like then, he’s taking action now, suing his A$57 billion ($39 billion) pension fund for not adequately disclosing or assessing the impact of climate change on its investments.
