Wells Advisor Headcount Slips Again in Q3, and Other Top Stories
Sales force across brokerage channels has dropped by over 1,000 since September 2016 when fake bank accounts were disclosed.
2. Finra Bars Wells Broker Whose Client Helped Him Qualify for Designation
Florida advisor shifted client assets to a bond account so he could maintain his status as an “international” financial advisor.
3. 2019 Compensation: RBC Reinstates 401(k) Match, Keeps Grid Unchanged
After multi-year cessation, the wealth management unit of the Canadian bank restores its retirement account match for brokers and makes no changes to its 2019 payout plan.
4. J.P. Morgan Seeks Restraining Order Against Broker Who Jumped to Merrill
New Jersey advisor with seven years of experience has convinced at least four former customers with more than $4 million to move by soliciting them in violation of his employment contract, J.P. Morgan claims.
Broker who was generating around $6 million in annual revenue reportedly stumbled over an unreported effort to help an associate buy a car.