In break from its longstanding single-broker branch model, financial advisors will be able to co-locate under a new program Edward Jones is testing and that is being rolled out to select advisors this week.
The case, brought in 2018, alleged “widespread” discrimination against Black advisors and focused on Jones’ practice of recouping training costs and its inherited account programs.
Finra also fined the Iowa-based broker $5,000 for trying to settle the claim without his firm’s knowledge.
Biggest brokerage firm by number of advisors says its force fell by more than 100 in fourth quarter, but 2020 revenue and profit grew due to rising markets and expense cuts.
The largest brokerage firm by headcount added 181 advisors in the third quarter and 837 in the past year, but warned of a new-office slowdown amid virus uncertainty.
Washington State broker fired for interpreting a now-obsolete retirement account advice rule differently than her employer was defamed on regulatory records, panel rules.
Branch office administrator who claimed age discrimination and retaliation could not prove that she was forced to resign, judge rules.
Ameriprise broker in Michigan wins dismissal of an earlier TRO granted almost two weeks ago while another Ameriprise broker in Virginia loses to TRO claim from Edward Jones.
Topeka, Kansas broker paid customer $2,500 to resolve a complaint that her account declined in value after the broker delayed in closing the account during the March market crash.
Nation’s biggest employer of brokers lifts freeze on raises that were imposed at the start of the pandemic, but continues new-advisor training halt and ban on overtime pay to branch and home-office employees.