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.
Long-time fee-only advisers fear loss of a competitive edge as brokers blur the lines in the advice industry.
Former star LPL broker and Houston branch manager James "Jeb" Bashaw is no longer joining Wunderlich Securities, and is also fighting back against <a href="http://www.investmentnews.com/article/20141013/FREE/141019977" target="_blank">LPL's allegations</a>.
An elite private banking duo plans to take legal action accusing the wirehouse of wrongful termination last month, their attorney says.
Trio brought in $5 million in annual revenue at UBS and will join Merrill's elite private banking group. <i>See also: <a href="http://www.investmentnews.com/article/20141020/FREE/141029993/morgan-hires-long-time-merrill-broker" target="_blank">Merrill loses longtime broker to Morgan Stanley</a>)</i>
Thomas Forma previously managed more than $300 million along with his partner Kevin Nichols.
The firm's thundering herd climbed back to 14,000 in the third quarter after several quarters of steady declines.
Firm picks up father-son duo who previously brought in $3.5 million a year in revenue.
Wells Fargo Advisors continues to build on its recruiting momentum with the addition of a trio of former JPMorgan Chase & Co. private bankers.
Administrative action follows Federal Court order for adviser Paul Marshall and associated companies to pay fines and disgorgement of more than $15 million.
