Derek Burke replacing Jerry Murphy as president of firm.
The case is the latest setback for Mr. Holt, a former attorney who has been disbarred, thrown out of the securities industry and is currently serving a 10-year prison term.
Raymond James activates back-up offices in Memphis, Detroit and Denver, while Kovack Securities charters jet to fly staff to New Orleans.
Company felt it needed a top manager from Scottrade in merged company.
Is Ms. Bennett's alleged scheme a harbinger of other such frauds?
Advisers who moved to other broker-dealers after MetLife sold to Massachusetts Mutual are seeing trailing commissions cut on VA and fixed annuity contracts.
Such deals allow them to get out from under the cost of running a broker-dealer, but preserves their brand and culture.
Over an eight-year period, the B-Ds failed to properly supervise sales charge waivers to clients in retirement plans and charitable organizations.
According to the lawsuit, agents being recruited away have been encouraged to create contact lists and download data on flash drives to later solicit clients.
Judge dismisses lawsuit, citing lack of specific details to support allegations.
