Joseph Michael, who had worked at a JPMorgan bank branch in Michigan, has already persuaded about 32 clients to begin transferring their accounts, according to a complaint filed in court.
Morgan Stanley was penalized for failing to catch excess sales charges and fees from mutual fund transactions between 2015 to 2021.
The bank's settlement with the Consumer Financial Protection Bureau deals with a variety of allegations and includes a $1.7 billion fine that's the biggest in CFPB history.
I’m grateful to have led the remarkable team at InvestmentNews as editor-in-chief in 2022, and we have great expectations for 2023.
The liquidity issue is squarely in the laps of financial advisers who have never had to deal with the difficulties posed by nontraded REITs before.
As the U.S. braces for a recession, Morgan Stanley is reducing its global head count.
An investor alleges the firm made unauthorized trades. The Finra arbitration decision comes as the regulator is conducting an exam sweep on options.
The groups that Hassan will take responsibility for were previously part of the global wealth-management operation.
Chairman Colm Kelleher said the bank has been slow to identify cross-selling opportunities to wealth management clients.
The Finra penalty included a fine of $200,000 and restitution to clients of $498,000 plus interest.
The two advisers are based in the firm’s Bala Cynwyd, Pennsylvania, office
Nandi Gunning joins a trio of advisers managing $2.5 billion in San Francisco.
The investment firm has tapped Morgan Stanley's wealth management arm as it seeks to raise $6 billion for its next venture fund.
A team of four advisers in suburban New York is making the switch.
Tim Truebenbach will open an office for the LPL Financial unit in Tacoma, Washington.
Known as the '3% investment policy,' the rule acted as a modest — if nagging — monthly charge on the revenue advisers generated.
The latest moves illustrate the push-and-pull dynamics of recruiting and hiring advisers at Wells Fargo.
The Consumer Financial Protection Bureau is pressuring the bank to pay the fine to settle a series of investigations into the bank's mistreatment of customers.
Their independent firm, 18Forty8 Private Wealth, is based in Madison, Wisconsin.
In a break with tradition, the firm is introducing next year's pay plan for its 12,000 advisers earlier this year.
