close

Blogs > Employment Transitions Law Blog

brokers

Oct 25, 2018

In the News: Fired UBS Broker Gets to Keep Half-Million-Dollar Note Balance

It was reported yesterday in AdvisorHub (Fired UBS Broker, a Hunting Show Host, Gets to Keep His Half-Million-Dollar Note Balance by Mason Braswell) that UBS was unable to enforce repayment of the outstanding balance on its promissory note in a FINRA arbitration against a broker it terminated for allegedly violating conflict of interest policies – failing to disclose client relationships. » Read More

Jun 25, 2018

In the News: Wells Fargo Advisors to Tell Customers They can Keep Data Away from Brokers

I was recently interviewed by AdvisorHub, a popular wealth management news source, to discuss the news that as of today, Wells Fargo Advisors will start telling customers of its private client group, that they can prevent their brokers from taking their contact information with them should the advisor leave the firm. » Read More

Feb 21, 2018

In The News: Fleeing Morgan Stanley Brokers Improperly Solicit Clients

It was reported in today’s Advisor Hub that several brokers allegedly used a Morgan Stanley dinner seminar to solicit clients and prospects the night before they moved to Raymond James. This is quintessential pre-solicitation and, if true, would fall squarely within a violation of almost any reasonably drafted non-solicitation clause, regardless of the employer. » Read More

Nov 29, 2017

In The News: UBS Exits Protocol for Broker Recruiting

Yet another departure:  UBS Wealth Management Americas has followed in Morgan Stanley’s footsteps and announced its exit from the Protocol for Broker Recruiting on Monday, effective this Friday, December 1. However, prior to this announcement, UBS was ready to onboard at least two Merrill Lynch brokers still protected by the pact. » Read More

Nov 17, 2017

In The News: Headhunter Offers to Pay Morgan Stanley Brokers’ Legal Fees

I was recently interviewed by AdvisorHub, a popular wealth management news source, to once again discuss the effects of Morgan Stanley’s exit from the Protocol for Broker Recruiting. A Colorado-based search firm, Advisorbox, recently unveiled a promotion aimed at Morgan Stanley brokers with at least $500,000 of production. » Read More

Want to receive these blogs in an email? Subscribe here: