September 25, 2021
This Week’s Top 5: Wayne Bland on Diversity and his $34-Mln Jones Settlement, Merrill Lifers Launch RIA in CO, And More
- After $34 Mln Settlement with Edward Jones, Wayne Bland Reckons with Future of Diversity in Wealth Management
“Sometimes it takes leadership to step up and make the change,” Wayne Bland said. “The other people, hopefully, come along later.”
- $8.8-Million Team of Merrill Lifers Exits to Launch RIA in Colorado
Five advisors had a combined 86 years with Merrill, according to BrokerCheck, and had managed $1.75 billion in customer assets.
- More “Project Thunder” Painkillers for Merrill Brokers, While Sieg Tags Big 2022 Comp Changes As Unlikely
Merrill Lynch Wealth Management President Andy Sieg told brokers not to expect any “large-scale change” in their compensation plans for 2022 while acknowledging broker attrition remained an issue.
- 51-Year Industry Vet Dinged for Receiving $477k Gift from Elderly Client
Jerry Rice resigned from Raymond James’ independent broker unit in 2019 after the firm initiated a review into alleged conflicts of interest related to undisclosed gifts from a client.
- Arbitrator Empathizes with Fired Broker over 251-Page Compliance Manual, Erases U5
Bradley R. Thompson, a 22-year broker now with Kovack Securities, was successful in expunging from his record a 2016 violation from LPL Financial over an “infraction of firm policy concerning loans.”