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Brokers warned to beef up training on complex products
Regulators alarmed at lack of knowledge brokers demonstrate about the products they're selling.
UBS facing nearly $1 billion in Puerto Rico claims
Claims over the firm's Puerto Rican bond funds exceed $900 million, three times as much as in the first quarter, and plaintiffs' attorneys say the number will probably climb higher.
$2.5 billion adviser duo fired by Merrill Lynch lands at Stifel
A team of elite advisers who was fired last month by Bank of America Merrill Lynch over private securities transactions has found a new home. (Plus: The team plans to fight back.)
Morgan hires longtime Merrill broker
Thomas Forma previously managed more than $300 million along with his partner Kevin Nichols.
Merrill snags $500 million team from UBS
Trio brought in $5 million in annual revenue at UBS and will join Merrill's elite private banking group. See also: Merrill loses longtime broker to Morgan Stanley)
Morgan Stanley hits profitability goal with fewer advisers
Morgan Stanley's wealth management unit reaches CEO's 2015 profitability goal early with 22% profit margins in the third quarter
Wealth management a growing force in bank fortunes
Third-quarter earnings reports show that once again, wirehouses are driving revenue at the giant banks that own them.
Altered docs land former Wells compliance officer in hot water
Judy Wolf, formerly with Wells Fargo, allegedly attempted to make it appear she adequately reviewed a broker later charged with insider trading. Plus, see 5 compliance lessons from recent SEC cases
Merrill stabilizes head count, boosts productivity
The firm's thundering herd climbed back to 14,000 in the third quarter after several quarters of steady declines.
Two high-profile adviser terminations take center stage
This week's must-read stories for advisers include employment drama at LPL and Merrill, Bill Gross speaking out, and a renewed push for more women in advice.
UBS blocks some investors from buying Pimco funds as wirehouses take stock
UBS is preventing some clients from investing in Pimco funds following the abrupt departure of Bill Gross, as well as increased scrutiny from influential investment researchers.
Terminated $2.5 billion Merrill Lynch team plans to fight back
An elite private banking duo plans to take legal action accusing the wirehouse of wrongful termination last month, their attorney says.
Morgan Stanley hauls in $320M Neuberger Berman team
Firm picks up father-son duo who previously brought in $3.5 million a year in revenue.
Morgan Stanley wins back $3M bonus from insider trader
A Finra arbitration panel ordered Vladimir Eydelman to repay his former firm after he was fired in March amid charges of insider trading.
An 'adviser' in name only
Calling a broker an adviser is dangerous, and it's time to embrace the black-and-white distinction.