Wirehouse slapped with fine after Finra alleged it paid retired brokers $100M in commissions without making sure they had stopped providing advice.
Some brokers say the math in moving to a fee-based model just doesn't add up for clients.
At <a href="http://www.investmentnews.com/section/video?playerType=Events&eventID=Pershing2014&playlistID=3603510948001">Pershing's Insite 2014</a>, BNY exec Brian Shea says bigger Wall Street players continue to face economic and regulatory challenges, opening the door for smaller firms.
Wirehouses outpace the rest of the industry in making the shift to charging fees.
HighTower chief executive Elliott Weissbluth says adding new platforms will help the firm achieve a business model and scale comparable to that of Raymond James. Mason Braswell has the story.
Investment advisers need to be doing a better job of reaching out to “Generation Now” as clients retire and draw down assets
Stephen Davis joins the firm after spending his entire 21-year career at Merrill.
A Finra arbitration panel denied the broker's claim that Wells Fargo made false promises during recruiting.
PNC Bank sued one of its former advisers and Morgan Stanley, claiming the employee recruited colleagues and may have used her cellphone to photograph client lists from her work computer before moving to the wirehouse.
A former Morgan Stanley adviser who joined LPL last month won back the right to serve his clients.
