This Weeks Top Stories Merrill Brokers Cold-Calling Blunder, Advisor Group to Buy Ladenburg, and More

17 Nov    Investing News
  1. Merrill Ousts Three Southwest Brokers over Cold-Calling
    A producing manager in Arizona and a Forbes-ranked team in Scottsdale and Dallas that won internal recognition for their account growth metrics left over solicitation practices “inconsistent with Firm standards.”
  2. Ladenburg Contractually Limits FA Retention Bonuses Ahead of Sale
    Merger document with Advisor Group restricts aggregate payments to Ladenburg’s 4,400 brokers and prospects to $5 million in aggregate and $500,000 individually.
  1. Edward Jones Wins TRO Against Broker Who Joined Ameriprise
    A Nevada broker who moved 11 household accounts since leaving Jones at the end of October has been ordered to refrain from contacting former clients for two weeks.
  1. Fidelity, Schwab, Vanguard Outrank Wirehouses in Prospect Recognition–Cerulli
    New survey of brand familiarity finds discount brokerage giants trouncing wirehouses in “unprompted” name recognition across a wide wealth spectrum of investors.
  2. Finra Raps Ex-Morgan Stanley Broker over Unauthorized Trades
    Michigan broker with almost 50 years of industry experience accepted a three-month suspension and $5,000 fine for making over a hundred trades without permission, according to the regulator.

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