Brokers’ firing over “failure to follow firm Covid policy” highlights the broad challenges that firms face in enforcing covid policies across their disparate sales forces.
A federal judge granted Edward Jones’ TRO request against Russell R. Riggan, and scheduled a June 7 hearing on the brokerage’s motion for preliminary injunction.
Advisor roster shrank slightly, less than 1% year over year, as the company said that it was more focused on qualitative metrics than adding new hires.
A former Edward Jones financial advisor in Texas claims in a lawsuit that she was fired following a “forced sexual encounter” with another advisor during her training.
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.