July 6, 2019
This Week’s Top Stories: Veteran UBS Manager Shifts to Merrill, Merrill Lowers Bonus Bar, and More
- High-Profile UBS Manager Joins Merrill
Kenneth Correa, who UBS has cited as an exemplar of its new-generation management and its diversity philosophy, is leaving after 15 years for the Thundering Herd.
- Merrill Lowers Goalposts for “Client Engagement” Bonus
Bank of America-owned firm lowers barrier for brokers to meet bank-product sales bonus after they complained of being stretched in too many directions.
- Cetera’s Summit to Pay $880,000 over Supervisory Lapses
Independent broker-dealer failed to identify excessive trading in customer accounts and improper reports to customers, Finra says.
- $3-Million UBS Team Goes Indie with LPL and Gladstone
Duo in New Jersey were managing $350 million at the wirehouse where they worked for a decade.
- Another Merrill Vet—$2 Million Producing Manager in Texas—Joins Sanctuary
Indiana-based independent firm run by ex-Merrill regional director hires second Merrill recruit in two weeks.