UBS Brokers Reunite at Baird with Teammate Discharged over Client Mailing
UBS in February fired a long-time broker for sending clients unapproved correspondence about an event he held, but the taint hasn’t stopped three of his former colleagues from joining him at a Dayton, Ohio, branch of Robert W. Baird, his new employer.
Travis King, Anthony Schock and Brian Rathbun—each of whom have been with UBS and predecessor firm J.C. Bradford for more than 20 years—re-teamed with John S. Bradley at Baird on Friday.
Bradley joined the firm on February 12, while under review for sending photos of the client event along with team contact information to multiple clients “directly from the post office, without Compliance review and branch supervision,” according to a summary of UBS’s U-5 termination notice on his BrokerCheck record.
Bradley had joined King, Schock and Rathbun’s Wealth Consulting Group at UBS’s Miamisburg office about a year before his departure, he said, and the four had parallel career paths that began at J.C. Bradford in the 1990s. (PaineWebber bought J.C. Bradford in 2000, a few months before UBS bought PaineWebber.)
Bradley declined to discuss the allegations on his termination notice, but said that he and his teammates had been planning to move prior to his discharge. A source familiar with Baird’s decision to hire him said the issue involved the broker’s having sent out a non-approved condensed version of his approved client presentation.
A spokesperson for Milwaukee-based Baird, which earlier this week closed its acquisition of Kentucky-based J.J. B. Hilliard W.L. Lyons, did not return a call for comment on the moves
In Bradley’s termination notice, UBS underscored that he had received “four prior disciplines.” It didn’t elaborate, but his BrokerCheck history says Ohio’s insurance department fined him $800 for impersonating an elderly relative in an informational telephone call to an annuity company that was not being cooperative with the annuitant. He also had customer complaints from 2006 and 2002 that UBS had denied.
King, Schock and Rathbun have no records of customer, legal or regulatory complaints on their BrokerCheck histories.
A UBS spokesman did not return a request for comment on Bradley’s termination or on its reaction to the departure of his colleagues.