"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Meanwhile, Merrill Lynch intends to continue building its alternative investment platform for wealthy clients.
Elsewhere in Utah, Raymond James also welcomed another experienced advisor from D.A. Davidson.
The proposed $120 million settlement would close the book on a legal challenge alleging the Wall Street banks failed to disclose crucial conflicts of interest to investors.
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
RBC Wealth Management's latest move in New York adds an elite eight-member team to its recently opened Westchester office.
Some investors recently have seen million dollar plus decisions by FINRA arbitration panels involving complex products decisions go their way.
Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Meanwhile, a Minnesota-based advisor from Edward Jones has found a new home within Osaic.
Financial advisor Craig Robson shares the lessons he learned after leaving Merrill Lynch to set up his own practice in the fourth installment of InvestmentNews' new 'Independence Stories' series.
With an aging advisor population, report looks at demographics, structures.
The new regional leader brings nearly 25 years of experience as the firm seeks to tap a complex and evolving market.
Financial advisor Dany Martin shares the lessons he learned after leaving one of the country's biggest banks to set up his own firm in the third installment of InvestmentNews' new 'Independence Stories' series.
Meanwhile in Chicago, the wirehouse also lost another $454 million team as a group of defectors moved to Wells Fargo.
Financial advisor Derek Wittjohann shares the lessons he learned after leaving a major wirehouse to set up his own practice in the second installment of InvestmentNews' new 'Independence Stories' series.
News of the nine-person team's defection comes as the Swiss-based wirehouse welcomes a 25-year veteran from Wilmington Trust.
The firm expands its Tri-State presence with a veteran advisor group from New York, while LPL and Osaic also report smaller additions in Texas and the Hudson Valley.
Following Wall Street Journal reporting from unnamed sources, the Chicago-based financial giant stressed its commitment to "delivering long-term value to our stakeholders."
The new legislative proposal, which includes more aggressive cuts to Medicaid and a lower SALT cap, threatens a goal of passing President Trump's tax-cut legislation by July 4.
