News
De-Wired: $1-Bln UBS Trio Joins Stifel, $675-Mln Morgan Stanley Quartet to RBC
Michigan brokers managing $1 billion at UBS moved Monday to Stifel, while RBC landed $675-million-AUM Morgan Stanley team in Beverly Hills the same day.
Phil Scott, $18-Million Merrill Superstar, Joins First Republic
High-profile Washington State broker Phil Scott moved his 11-person team on Tuesday to First Republic.
$3 Mln-Merrill Lifer in Vegas Exits After 37 Years, Launches RIA
Yearning to “drive the ship” himself after almost four decades at Merrill, broker managing $360 million for 56 families strikes out on his own.
UBS Nabs Chicago Bank Broker with About $1 Mln of Revenue
The smallest of the wirehouses fills its deliberately shrinking hole with another nontraditional hire from a bank.
Interactive Brokers to Pay $38 Million for Money-Laundering Breaches
Interactive, the online trading firm that clears for more foreign financial firms than any broker-dealer, agrees to pay Finra, SEC and CFTC $38 million for “widespread failures” in its anti-money-laundering programs.
Robinhood Blows Past Rivals in Record Year for Retail Investing
Robinhood Markets Inc. is outrunning its online-brokerage rivals, at least by one widely followed industry metric for customer activity.
Jones Loses $1.3 Mln Producer to Wells Indie Firm, Merrill Brokers Join RBC
A 21-year Edward Jones lifer producing $1.3 million left Friday to join an independent firm giant affiliated with Wells, while RBC added two Merrill teams collectively managing $340 million.
This Week’s Top: Wirehouse Recruiting Wars Continue, Another Broker Sanctioned over UIT Sales, and More
Most popular stories from August 2 to August 8.
Managed Money Champion Paul Hatch Exits UBS
Hatch, who was reorganized out of a top UBS sales management job in December, has formed an asset management consulting firm with former BlackRock executive Frank Porcelli and former UBS Wealth planning head Jeff Miller.
UBS Severs Ties With Some Wealthy Venezuelans Amid Sanctions
UBS Group AG is severing ties with some Venezuelan clients it serves from the U.S. as the Trump administration tightens sanctions on a country that’s mired in a power struggle.
Ameriprise Brokers Fight TRO Bids from J.P. Morgan, Wells
At least three former J.P. Morgan, Wells Fargo and Edward Jones brokers who joined Ameriprise in recent weeks are fighting lawsuits aimed at keeping them from calling former clients.
