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UBS nabs Merrill advisers managing $1.3 billion
Three make the switch in New York City and two will be based in Paramus, New Jersey.
Former Northern Trust exec Shundrawn Thomas launches private equity firm
Thomas is partnering with former Bank of America credit specialist Anthony Hoye to provide financing to minority and women-led businesses.
SEC bars Merrill manager out on sick leave
Richard M. Crabtree, who was based in Annapolis, Maryland, began defrauding a client in 2016, according to the agency.
10 advisers managing $2.85 billion join UBS from Merrill
The advisers, who work with high- and ultra-high-net-worth families and institutions, join the firm in Washington, D.C.
Merrill team managing $600 million moves to LPL
Six long-time Merrill advisers in Oakland, California, and Savannah, Georgia, switch to LPL's employee unit, Linsco.
Putnam hires ESG leader from BofA
Jackie VanderBrug has been appointed Putnam’s head of sustainability strategy, reporting to CEO Robert Reynolds.
Former Merrill broker settles civil lawsuit over throwing smoothie
On Wednesday, James Iannazzo agreed to pay $7,500, an amount his attorney called a 'token payment.'
LPL hires former BNY Mellon exec to head banking
Bill Sappington will lead efforts to build the IBD’s banking and lending platform.
Merrill Lynch follows through on hiring financial advisers despite tough market
Meanwhile, Bank of America, like other large financial institutions that employ advisers, is facing regulatory scrutiny over employees' communications.
Merrill duo managing $300 million goes indie with Raymond James
Old Town Advisors in Albuquerque, New Mexico, is affiliating through OSJ Concurrent Advisors.
Reslicing the profit pie at Wells Fargo
If the pie keeps growing, wirehouse brokers probably won’t mind getting a relatively smaller slice.
Merrill trio managing $453 million joins Raymond James
The team in Lake Charles, Louisiana,, now known as Woods Brignac Wealth Management of Raymond James, moves to the firm’s employee channel.
Bank of America deepens ties to iCapital alts platform with strategic investment
The bank joins a long list of financial backers funding the $130 billion tech-savvy platform for investing in alternatives.
Wirehouses ditched recruiting years ago, but hit records in 2021. What changed?
Ten years ago, hiring financial advisers at wirehouses had a hammer and tongs feel. Today, hiring and hanging on to advisers are much more nuanced endeavors.
Billion-dollar Merrill trio bolts for Cetera
The three advisers are setting up shop as Harvest Wealth in the Maryland suburbs of Washington.
Billion-dollar Merrill team goes indie with Sanctuary
The four advisers are setting up shop as SkyPath Private Wealth in Summit, New Jersey.
Merrill pays $15.2 million to investors who spent too much for mutual funds
The restitution settles Finra charges that the firm recommended Class C shares with ongoing fees when more affordable Class A shares were available.
Finra arbitrators award Mexican farmer damages against Morgan Stanley, ex-broker
The firm and the former rep were ordered to pay Carlos Ramon Tapia Sanchez $160,000 each in damages; his attorney said the broker inappropriately recommended that Sanchez invest in junk bonds.
Merrill team managing $409 million joins Raymond James
The three advisers, based in Spokane, Washington, will operate as Panorama Wealth Management of Raymond James.
Raymond James adds $376 million Merrill adviser
Michael Anania formed The Anania Group of Raymond James in Dublin, Ohio, along with two staff members.
