A former Morgan Stanley broker altered his clients' phone numbers in the firm's system before leaving for Ameriprise, according to a lawsuit
Gary Yin, who pleaded guilty to laundering a client's insider trading profits, must pay restitution to Merrill but avoids prison sentence.
Hires mark a significant addition to the $6 billion wealth unit at the firm, one year after it brought on a former Morgan Stanley exec as CEO.
Brokerage isn't plotting its own big buys despite moves by competitors, says president of the firm's employee-adviser channel.
Morgan Stanley won't face Federal Trade Commission action as a result of a data breach that compromised information of some 350,000 clients.
The top of <i>InvestmentNews'</i> annual ranking of fee-only RIAs features traditional firms that collectively pose a threat to the largest brokerages.</br><b><i>(Plus: <a href="http://www.investmentnews.com/section/specialreport/20150531/RIA201505" target="_blank">Our full RIA Rundown 2015 special report</a>)</b></i>
John Thiel's outspoken support of a best-interest standard and the Labor Department's effort puts pressure on peers. <i>(See also: <a href="http://www.investmentnews.com/article/20150414/FREE/150419976/labor-department-proposes-controversial-fiduciary-rule" target="_blank">DOL proposes controversial fiduciary rule</a>)</i>
Finra makes some information more prominent, but system still doesn't go far enough plaintiffs' attorneys say.
Share of wealth held by millionaires rose 16%, driven by strong performance of equities, report finds.
Industry heavyweights including Schwab, Wells Fargo and SIFMA bemoan the new Brokercheck link proposal from Finra, saying it is still too costly and vague.
