2015 Representative Movement

Posted on October 13th, 2016 at 9:03 AM
2015 Representative Movement

From the Desk of Jim Eccleston at Eccleston Law LLC:

In 2015, wirehouse firms such as UBS Financial, Merrill Lynch, Wells Fargo Advisors and Morgan Stanley, incurred a net loss of 312 reps. Morgan Stanley had the highest number of departures at 2,857 reps contributing to a net loss of 359.

The traditional channel experienced a net gain of 91 reps in 2015 with Raymond James and Stifel, Nicolaus leading the way. However, Edward Jones experienced a net loss of 523 reps.

The independent channel had a net growth of 2,548 reps in 2015. LPL Financial achieved the highest net rep growth at 505 and Raymond James came in second with a net growth of 322 reps. J.P. Turner had the greatest net loss of reps at 124. 

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial advisors including breakaway broker servicesemployment mattersstrategic consulting and counselingbroker litigation and arbitration,whistleblower actions, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today. 

Related Attorneys: James J. Eccleston

Tags: Eccleston, James Eccleston, Financial Counsel, Eccleston Law, Eccleston Law LLC, wirehouse firms, UBS Financial, Merrill Lynch, Wells Fargo Advisors, Morgan Stanley, Edward Jones, LPL Financial, net rep growth

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We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

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