Claims over the firm's Puerto Rican bond funds exceed $900 million, three times as much as in the first quarter, and plaintiffs' attorneys say the number will probably climb higher.
An elite private banking duo plans to take legal action accusing the wirehouse of wrongful termination last month, their attorney says.
Thomas Forma previously managed more than $300 million along with his partner Kevin Nichols.
Trio brought in $5 million in annual revenue at UBS and will join Merrill's elite private banking group. <i>See also: <a href="http://www.investmentnews.com/article/20141020/FREE/141029993/morgan-hires-long-time-merrill-broker" target="_blank">Merrill loses longtime broker to Morgan Stanley</a>)</i>
The firm's thundering herd climbed back to 14,000 in the third quarter after several quarters of steady declines.
This week's must-read stories for advisers include employment drama at LPL and Merrill, Bill Gross speaking out, and a renewed push for more women in advice.
Firm picks up father-son duo who previously brought in $3.5 million a year in revenue.
UBS is preventing some clients from investing in Pimco funds following the abrupt departure of Bill Gross, as well as increased scrutiny from influential investment researchers.
Wells Fargo Advisors continues to build on its recruiting momentum with the addition of a trio of former JPMorgan Chase & Co. private bankers.
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.
The advisers allegedly violated Finra rules and firm policy by encouraging some of their larger clients to invest directly in hedge funds.
<b>Advisers on the Move</b> - Eleven brokers from UBS and Merrill Lynch joined Wells Fargo in California. See more recent moves in our <a href="http://data.investmentnews.com/aotm/">exclusive Advisers on the Move database.</a>
Advisers Craig Houck and Richard Schooley focus on retirement plan design.
SEC has charged Donna Tucker with stealing $730,000 from older clients, including a blind couple.
A Finra arbitration panel ordered Vladimir Eydelman to repay his former firm after he was fired in March amid charges of insider trading.
Calling a broker an adviser is dangerous, and it's time to embrace the black-and-white distinction.
Judy Wolf, formerly with Wells Fargo, allegedly attempted to make it appear she adequately reviewed a broker later charged with insider trading. <b><i>Plus, see <a href="http://www.investmentnews.com/gallery/20140507/FREE/507009999/PH/5-big-compliance-lessons-from-recent-sec-cases" target="_blank">5 compliance lessons from recent SEC cases</a></b></i>
Former intern claims she was offered Christian Louboutin shoes in exchange for sex; adviser and firm say she welcomed advances.
A tweak to Merrill Lynch business cards earlier this year caused a stir among some of the firm's 13,700 advisers.
Team of William Peragine and John Biondo join as Wells Fargo continues summer recruiting spree.
