The Practice: Fees and compensation

Ex-Wells Fargo Broker Suspended Over Allegedly Unauthorized Trading

October 22, 2019No Comments

The man allegedly placed orders in a client’s account without knowing that the client had died three days prior.

Legal Tussle Between Ex-Morgan Stanley Broker and Finra Ends in Bar for Ami Forte

October 22, 2019No Comments

Barred broker’s lawyer puts Finra to task for giving Morgan Stanley a “free pass” and not sanctioning it for the alleged wrongdoing of other employees.

Fidelity Joins Ranks of Investors Cutting Ties With Fisher Investments

October 22, 2019No Comments

Ken Fisher’s firm was the sub-advisor of $500 million in assets for Fidelity’s Strategic Advisers Small-Mid Cap Fund.

Investor Asks Judge to Toss Merrill Lynch Counter-Suit Against Him

October 22, 20192 Comment(s)Last Comment: October 22, 2019

The wirehouse claims the investor made misrepresentations when buying a 529 plan.

Merrill Lynch and Bank of America Join Race to Zero Commissions

October 22, 2019No Comments

After a host of independent broker-dealers had taken the plunge, Merrill Lynch becomes the first wirehouse to make the move.

UBS Wealth Management’s FA Ranks Shrink by 186

October 22, 2019No Comments

But the division was able to reverse recent net new money outflows.

TD Ameritrade Sees 7% Growth in Net New Client Assets

October 22, 2019No Comments

But the firm expects net revenues to drop 15% to 16% in light of its decision to eliminate trading commissions.

Merrill Lynch Loses More FAs to This Rival

October 22, 2019No Comments

Meanwhile, a broker discharged by the wirehouse in 2017 has found a new home with a boutique firm.

Fee Compression Among FAs’ Top Concerns

October 21, 20191 Comment(s)Last Comment: October 21, 2019

Shortsightedness and the inexperience of younger investors are also among biggest challenges facing advisors.

Morgan Stanley’s Ex-CIO Joins Americana Partners

October 21, 2019No Comments

David Darst joins the RIA formed in April by Morgan Stanley breakaway advisors overseeing $6 billion.