Waddell & Reed
The regulator fined and suspended a Lincoln Financial Advisors broker and a former International Assets Advisory broker who started his own registered investment advisory firm for alleged violations of client privacy rules.
LPL CEO Dan Arnold said it is having an “ongoing dialogue” with the remaining undecided Waddell & Reed advisors ahead of the mid-year closing of the deal.
Deal adding about 900 Waddell advisors to LPL’s more than 17,000 is expected to close by middle of 2021.
Texas rep who complained internally, to federal regulators and to a court about his failure to get a new assignment says Edward Jones trumped up its real reason for firing him.