Shortly after taking over as head of field management at Morgan Stanley Wealth Management, Shelley O'Connor announced Tuesday that she is restructuring the firm's divisions and regions. Mason Braswell has the story.
A former adviser trainee of Wells Fargo Advisors says firm went after her for training costs after she left the firm; she has sued, claiming the firm's practice of recouping training costs is illegal and discriminatory.
Two advisers reunite after worked together at Alex. Brown before splitting.
Summit Financial deal is ninth transaction of the year for Focus.
The firm snagged five industry veterans from UBS and Wells Fargo, including two branch managers and $275 million in assets.
Firm launches training program designed to bring its registered service associates up through the ranks.
The firm has been expanding its product offerings and has considered an acquisition as independent firms move to compete for ultrawealthy clients.
Executives across the industry, from wirehouses to independent and regional firms, are enjoying fatter paychecks and bigger bonuses as advisers become a more important part of firms' balance sheets. <i>(Don't miss some rather outlandish <a href="http://www.investmentnews.com/gallery/20140324/FREE/324009999/PH" target="_blank">top executive benefits</a>.)</i>
A former Wells Fargo trainee has sued the firm, claiming that its effort to get back $50K in training costs violates labor law. If the claim sticks, brokers could have a tough time recouping such costs from ex-employees who leave firms early.
