September 14, 2019
This Week’s Top Stories: Ed Jones and Morgan Stanley TRO Claims, Ex-Credit Suisse Brokers’ $3-Mln Award, and More
- Edward Jones Asks Court to Curb Business of Broker Who Jumped
Indiana advisor who went independent in August after 21 years with Jones has moved $2 million of the $113 million in client assets he was managing, firm says in lawsuit.
- Merrill Teams with $1.3 Bln AUM Leave “Community” Unit for Wells, RBC
Twenty-nine year Merrill veteran in Scranton moved family team producing $4.2 million to Wells, and eight-person team overseeing $540 million in Minocqua, Wis. joined RBC (which also hired two Merrill teams in northern California).
- Morgan Stanley Eyes $4 Trillion in Client Assets Held Away
The firm’s 15,700 advisors have uncovered $60 billion in external client assets using new technology tools, chief financial officer Jonathan Pruzan said on Wednesday.
- Ex-Credit Suisse Trio Wins $3 Million in Deferred Comp Arbitration
Brokers now with J.P. Morgan in Atlanta are at least the fifth former brokers who won awards for deferred compensation the Swiss bank withheld after shuttering its U.S. brokerage operations.
- Morgan Stanley Obtains TRO Against Breakaway Long Island Advisor
Broker who left with three others last month allegedly took client data prior to setting up a registered investment advisory firm.