Results for "merrill lynch"

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Wells Fargo team managing $566 million moves to Baird

May 8, 2018

A team of two veteran advisers, Irving Mindes and William Fedor, and two assistants managing $566 million in assets at Wells Fargo Advisors in Tucson, Ariz., have moved to Baird Private Wealth Management. Irving Mindes joined Wells Fargo predecessor...

Former broker fined $10,000 and suspended six months over expense account

May 3, 2018

The Financial Industry Regulatory Authority Inc. has suspended former Merrill Lynch broker Joshua Crossman for six months and fined him $10,000 over an expense account report he filed while at the firm. In a letter of acceptance, waiver and...

81-year-old Mark Mobius says no to retirement, yes to new venture

May 2, 2018

Turns out Mark Mobius isn't one for retirement. Less than four months after leaving Franklin Templeton Investments, the 81-year-old has set up a new asset management firm to invest in emerging and frontier markets. Mobius Capital Partners has...

Merrill Lynch adds five ESG portfolios to platform

May 2, 2018

Merrill Lynch has launched five ETF-based portfolios that incorporate environmental, social and governance factors. Each is designed to meet investor profiles ranging from conservative to aggressive, the firm said in a release. The portfolios,...

Fired Merrill broker gets $750,000 in damages for defamation

May 1, 2018

A Financial Industry Regulatory Authority Inc. arbitration panel has awarded former Merrill Lynch broker Miguel Ballestas $750,000 in compensatory damages, saying that the firm defamed Mr. Ballestas on his U5 form. Mr. Ballestas was employed...

UBS to pay ex-broker $381,000 in spat over loan

April 27, 2018

A Finra arbitration panel has awarded former UBS broker Wilson Dennis Colberg-Trigo $1.236 million in compensatory damages in a dispute involving his termination from the firm, but also ordered the broker to pay the firm $854,157 to settle the...

Wirehouses best positioned to benefit from artificial intelligence

April 27, 2018

Wirehouses are positioned to save big money with artificial intelligence technology — at the expense of the smaller advisory firms. According to a new report from Autonomous Research, AI has potential to reduce front, middle and back office...

Why Schwab's CEO bets you won't be trading stocks on Amazon

April 25, 2018

Walt Bettinger, the CEO at Charles Schwab Corp., has some friendly advice for Amazon.com Inc.'s Jeff Bezos: Think twice before getting into the investment business. "If you're a FAANG-type company and you decide you want to come into our space...

Merrill loses $123 million adviser to hybrid

April 24, 2018

Ric Kellogg, who managed $123 million in assets at Merrill Lynch in Dallas, Texas, has joined IHT Wealth Management in Southlake, Texas, and affiliated with LPL Financial as his broker-dealer. Mr. Kellogg joined Merrill Lynch in 2005 from AXA...

Merrill Lynch fires Chicago star broker Bruce Lee

April 24, 2018

Merrill Lynch star veteran broker Bruce Lee, whose Chicago team managed nearly $3 billion in client assets, was fired for unknown reasons, according to sources with knowledge of the move. Mr. Lee, who was fired on Friday, was a perennial member...

Nevada broker sues Merrill Lynch over gender discrimination

April 24, 2018

A female broker in Nevada has sued Merrill Lynch for gender discrimination, saying the firm retaliated against her for complaining about her treatment. Betsy Whipple, who had been recruited from Morgan Stanley in 2011, said in a complaint filed...

The unique nature of working with celebrity clients

April 24, 2018

A few decades of working with celebrities and professional athletes has taught Jordan Waxman one thing: "They're no different than anyone else; they put their pants on one leg at a time." Mr. Waxman, managing partner at HSW Advisors, has helped...

The $1 million gender wealth gap

April 19, 2018

It is well-documented that most women earn less than men, averaging 84 cents to every $1 paid to a man. What is less obvious is the lifetime impact of that wage gap when combined with career interruptions. Many women experience lasting financial...

Merrill Lynch's incentives for new accounts paying off

April 16, 2018

Merrill Lynch's move last year to align its compensation grid for its 14,829 brokers and advisers to hustle after new accounts appears to be paying off. The wirehouse said on Monday that assets under management flows of $24 billion for the first...

Morgan Stanley's success looks long in the tooth to analyst

April 16, 2018

Morgan Stanley is an "aging bull" when it comes to its wealth management division, and the firm's recent stalled growth in the headcount of financial advisers is turning into a problem, according to a new report by a Wall Street analyst. The...

Former Merrill Lynch broker barred for hearing no-show

April 13, 2018

The Financial Industry Regulatory Authority Inc. has barred former Merrill Lynch broker Tyler Harris for not appearing at a hearing looking into his personal banking transactions. Merrill Lynch terminated Mr. Harris in August 2017, giving its...

Family foundations beginning to shame public companies to invest more in ESG causes

April 12, 2018

John D. Rockefeller founded Standard Oil Co., and as a result was the richest person on the planet when he died in 1937. Yet, some of his 200-plus living descendants have embarked on a mission to challenge Standard Oil offspring Exxon Mobil...

Fidelity changing the way it charges for financial advice

April 12, 2018

Fidelity Investments is changing the way it charges wealth management customers for advice, based on the amount they have invested with the firm. The new fees begin in July for the more than 800,000 customers of the wealth unit. The charges...

Finra taps former Schwab exec Bari Havlik to replace Susan Axelrod in top cop job

April 11, 2018

The Financial Industry Regulatory Authority Inc. has selected Bari Havlik, most recently chief compliance officer the The Charles Schwab Corp., as head of its member regulation program. As executive vice president for member supervision, Ms....

UBS, broker to pay $805,000 in Finra award

April 10, 2018

A hearing panel of the Financial Industry Regulatory Authority Inc. has awarded a customer of UBS broker Michael James Keane $805,120, the latest in a series of payments he has faced in the past several years to satisfy client complaints. Finra...

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