Morgan Keegan & Co Inc. has lost another arbitration case stemming from a blow up of its bond funds to a former professional athlete, this time liable to a former NBA all-star for $1.45 million in damages.
One of Charles Johnston's top lieutenants at the Morgan Stanley Smith Barney is racing to the door to join Bank of America Merrill Lynch.
After a year of turmoil, the AIG Advisor Group is cutting a chunk of its staff and consolidating operations among the back offices of its three broker-dealers.
Larry Roth, chief executive of the beleaguered AIG Advisor Group, thinks that within six months, the network of broker-dealers that is home to 6,000 registered representatives and financial advisers will be “hitting on all cylinders.”
In the months before it landed one of the biggest advisers on Wall Street, HighTower Securities LLC was already successfully recruiting other breakaway brokers.
Ponzi scam artists will have greater freedom to flourish if state regulators get expanded oversight of registered investment advisory firms, according to attorneys on a panel today at the annual Financial Services Institute conference in New Orleans.
Securities America Inc. was tagged last month with a lawsuit from Massachusetts regulators alleging that the firm misled investors who were sold high-risk private placements.
A Securities America adviser named last week in a class action said he had no way of knowing that securities he sold would later blow up.
As part of her leadership role at Merrill Lynch & Co. Inc., Sallie Krawcheck has shown clear deference to the firm's storied past and has assiduously worked the phones, reaching out to leading members of the firm's old guard, including former chief executives David Komansky and Daniel Tully.
