August 17, 2019
This Week’s Top Stories: Ex-RayJay Broker Wins Expungement, Wells Cuts Complexes, and More
- Raymond James Told to Clean Million-Dollar Broker’s Termination Record
Former wirehouse advisor wins expungement of Raymond James’ allegation that it fired him for violating the Protocol for Broker Recruiting by having excess client information when he joined from Merrill Lynch.
- Wells Fargo Advisors to Cut Branch ComplexesIn the latest chapter of its ongoing cost-cutting and cultural make-over, Wells is slimming a layer of middle-management by 15% across its network of brokerage offices.
- $3.6 Million UBS Team Joins First Republic in New JerseyParamus team opened West Coast bank’s first wealth branch in the Garden State on Friday, the same day UBS hired a $1-million, 29-year industry veteran in Ohio from Morgan Stanley.
- Wells Fargo’s Fledgling RIA Channel to End Year with 11 AdvisorsBank is “thrilled” with its slow, steady progress in satisfying advisors who want to set up as registered investment advisers under the Wells clearing and custody umbrella, executive says.
- Merrill Houston-Area Teams Leave, One to Wells and a Second to RIAThree-million-dollar producers who spent their careers with the Thundering Herd wanted to stay with a wirehouse, while more junior team starts independent advisory practice.