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Puerto Rico debt depresses UBS Wealth earnings
Despite record revenue at UBS Wealth Management Americas, profits fell in the second quarter as the firm reported that it had to set aside $44M for litigation costs, mostly related to the firm's investments in Puerto Rico.
Merrill asks $2.5 billion team to leave
The advisers allegedly violated Finra rules and firm policy by encouraging some of their larger clients to invest directly in hedge funds.
Wells Fargo recruits brokers with $1.1 billion in AUM
Advisers on the Move - Eleven brokers from UBS and Merrill Lynch joined Wells Fargo in California. See more recent moves in our exclusive Advisers on the Move database.
Raymond James recruits $300M Morgan Stanley team
Advisers Craig Houck and Richard Schooley focus on retirement plan design.
Ex-UBS broker accused of defrauding elderly in Ponzi scheme
SEC has charged Donna Tucker with stealing $730,000 from older clients, including a blind couple.
Morgan Stanley wins back $3M bonus from insider trader
A Finra arbitration panel ordered Vladimir Eydelman to repay his former firm after he was fired in March amid charges of insider trading.
An ‘adviser’ in name only
Calling a broker an adviser is dangerous, and it's time to embrace the black-and-white distinction.
Altered docs land former Wells compliance officer in hot water
Judy Wolf, formerly with Wells Fargo, allegedly attempted to make it appear she adequately reviewed a broker later charged with insider trading. Plus, see 5 compliance lessons from recent SEC cases
Ex-UBS adviser faces $5 million sexual harassment suit
Former intern claims she was offered Christian Louboutin shoes in exchange for sex; adviser and firm say she welcomed advances.
Do Merrill Lynch’s new business cards diss the brand?
A tweak to Merrill Lynch business cards earlier this year caused a stir among some of the firm's 13,700 advisers.
Wells Fargo adds $830M Morgan Stanley duo
Team of William Peragine and John Biondo join as Wells Fargo continues summer recruiting spree.
Morgan Stanley appoints wealth management exec to be chief marketing officer
Mandell Crawley's former responsibilities will be distributed to other personnel
Legacy Smith Barney managed funds program closed
Not all brokers are happy, but Morgan Stanley says shutting the “wrap” accounts program to new investors will reduce complexity.
Morgan Stanley nabs 3 brokers with $1.3 billion in assets
Recent recruits include a former Merrill Lynch duo who managed $1.1 billion.
Morgan Stanley dodges $15 million raiding claim
Charles Scwab's $15 million arbitration claim against Morgan Stanley for hiring brokers from its San Francisco office was rejected.
Wells Fargo binges on Morgan Stanley recruits
Since June, the firm has snatched nearly $1.4 billion in assets from rival wirehouse, according to moves tracked by InvestmentNews.
Morgan Stanley managers depart amid reorg
Some high-level executives depart as firm restructures its managed-account unit, and streamlines products and services staff.
Merrill Lynch launches technology-driven retirement tools
Merrill Lynch Clear uses iPad apps to encourage goals-based conversations between advisers and clients.
‘Don’t fight the Fed’ was never more true
Tuesday's Breakfast with Benjamin menu includes: It's true: Don't fight the Fed. Also: Alibaba mania is here and so is Apple's big day; Wells Fargo faces possible Finra action and about that Home Depot data breach.
HighTower picks up Merrill advisers with $800 million
Three advisers join as partners and will operate as HighTower Fort Myers.
