Last week, Securities America Inc. was tagged with a lawsuit from Massachusetts regulators alleging that the firm misled investors who were sold high-risk private placements.
Robert Mustard was thought to be the person who assaulted a father and son team of reps on Monday. The former client was said to be 'unhappy over some business dealings.'
A former branch manager who headed one of the largest groups of reps at FSC Securities Corp. is suing the broker-dealer after what he claims was a thwarted and contentious attempt to buy the business from parent AIG Advisor Group earlier last year.
Two long-established advisers have left Royal Alliance Associates Inc., one of the broker-dealers in the AIG Advisor Group, citing mistrust of management after AIG's top executive elected to hold onto — rather than sell — the broker-dealer network.
The AIG Advisor Group Inc. said last week it is making more widespread changes by cutting staff and consolidating operations among the back offices of its three broker-dealers.
A Tennessee representative formerly affiliated with AIG Financial Advisors Inc. spent time making voodoo dolls of his victims to ward off their damaging testimony, prosecutors said.
AIG Advisor Group Inc.'s move to dole out retention bonuses to assuage the 6,000 or so brokers who have remained loyal through the tumult of the past year appears to be too little, too late, or simply too binding for some advisers.
In a huge blow to SagePoint Financial Inc., one of three broker-dealers that make up the AIG Advisor Group Inc., its largest branch of reps and advisers is walking out the door following a bitter dispute over the latter's role and future at SagePoint.
The self regulatory organization ruled that Schwab's human resources group committed “gross negligence, and contributed to the damages suffered” by a former employee who claimed the brokerage had made defamatory comments on his termination notice.
