Morgan Stanley has officially opted to join the inter-brokerage pact, first created in the fall of 2004, which stipulates that members will not sue brokers departing to other firms when they try to take their clients with them—as long as...
Some states, such as Florida, ban no-contest clauses in wills as against public policy. A greater number of states allow these measures -- also known as "in terrorem" clauses -- but rarely enforce them. It seems that the law and its practitioners...
Every brokerage firm is courting wealthy clients, and many of them say that serving the wealthy is what they do best. So just how are these firms doing? A new study based on high-net-worth customer opinions reveals a surprising mix of success and...
UBS is doing all it can to hold onto as many of the advisors at newly acquired Cleveland-based McDonald Investments as possible—beginning with a retention package that will be hard to refuse.
The racial-discrimination suit against Merrill Lynch is under way again after settlement talks between African-American brokers and the firm came to a halt in early June.
Blas Catalani, a former sales manager at Merrill Lynch’s San Antonio office, is suing a female ex-broker and her lawyer on grounds that the two women conspired to get him fired.
With the ink still drying on its deal to purchase Piper Jaffray’s brokerage arm, UBS announced today it will now buy Cleveland-based McDonald Investments, KeyCorp’s brokerage unit.
The New York Stock Exchange released second-quarter 2006 earnings data showing significant aggregate increases in revenues and profits for member firms today. But is the party winding down for brokerage firms?
Today, an NASD Hearing Panel fined American Funds Distributors, “the principal underwriter and distributor of the shares of the American Fund family” (as the NASD describes AFD), for directed brokerage.