Tagged with "Morgan Stanley"

HighTower Advisors to Exit Broker Protocol

Posted on May 14th, 2019 at 4:02 PM

HighTower Advisors has announced that the $50 billion RIA will exit the Broker Protocol. HighTower’s exit follows the departure of Morgan Stanley and then UBS in late 2017.

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Sued by Schwab, axed by Morgan Stanley: A $750M team’s troubled career move

Posted on April 25th, 2019 at 4:32 PM
Sued by Schwab, axed by Morgan Stanley: A $750M team’s troubled career move

A rough four weeks for a $750 million team ended with the advisors out of a job and barred from soliciting their clients.

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Morgan Stanley Terminates Newly Acquired Team Accused of Violating Their Employment Contracts with Charles Schwab

Posted on April 18th, 2019 at 5:21 PM
Morgan Stanley Terminates Newly Acquired Team Accused of Violating Their Employment Contracts with Charles Schwab

In a strange twist, Morgan Stanley has terminated a veteran team of investment advisers that who acquired less than three weeks ago from Charles Schwab & Co. Morgan Stanley parted ways with the newly hired team of advisers after they received a temporary restraining order (TRO) and preliminary injunction from their former firm, Charles Schwab.

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FINRA Bars Former Morgan Stanley Broker for Failing to Cooperate in an Investigation Regarding His Outside Business Activities

Posted on April 18th, 2019 at 3:16 PM
FINRA Bars Former Morgan Stanley Broker for Failing to Cooperate in an Investigation Regarding His Outside Business Activities

FINRA has barred Denver, Colorado broker, Daniel Todd Levine for failing to cooperate in an investigation regarding allegations that he engaged in undisclosed outside business activities while working at Morgan Stanley.

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Merrill Lynch to Expand 401(k) Fiduciary Services

Posted on April 11th, 2019 at 4:47 PM
Merrill Lynch to Expand 401(k) Fiduciary Services

Merrill Lynch has announced that it will expand fiduciary services for 401(k) clients by allowing more financial advisors to manage retirement plan menus on a discretionary basis

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Regional Firms Are Becoming More Attractive as Wirehouses Lose Competitive Edge

Posted on April 1st, 2019 at 11:56 AM

Recently, regional firms such as Raymond James, Stifel, Ameriprise, and Janney Montgomery Scott have become a favored destination for many successful wirehouse advisors who have transitioned away from the wirehouses.

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Morgan Stanley Loses Temporary Restraining Order Aiming to Stop Former Investment Brokers from Soliciting Clients

Posted on March 27th, 2019 at 9:28 AM

A Texas judge has denied a temporary restraining order (TRO) filed by Morgan Stanley to prevent two Dallas, Texas-based investment advisers, who left the firm, from soliciting their former clients at their new firm, an independent broker-dealer.

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FINRA’s Largest Fines Per Category in 2018

Posted on March 6th, 2019 at 10:35 AM
FINRA’s Largest Fines Per Category in 2018

In 2018, FINRA fined broker-dealers a total of $68 million, which was a 5% increase from $65 million in 2017, while the average fine per case increased in 2018 to $107,000 from only $65,000 in 2017.

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Three Large Brokerage Networks Offering Significant Recruiting Bonuses in 2019

Posted on March 1st, 2019 at 1:49 PM

As Merrill Lynch, Morgan Stanley and UBS Financial Services, Inc. have recently pulled back their recruiting efforts in order to focus on growing assets and revenue internally, firms such as Wells Fargo Advisors, LPL Financial and Cetera Financial Group are seeking the opportunity to gain ground by offering attractive recruiting bonuses.

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Regional Broker-Dealers are Making a Comeback

Posted on January 16th, 2019 at 3:19 PM
Regional Broker-Dealers are Making a Comeback

Once overlooked compared to the registered investment adviser and the independent broker-dealer market, regional brokerage firms quietly are making comeback due to recruiting gains at the expense of wirehouses.

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TESTIMONIALS

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We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

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