Wells Fargo has announced its 2019 compensation plan for the firm’s 9,400 financial advisors. According to the compensation plan, Wells Fargo will continue to guarantee its financial advisors 50% payouts of all fees and commissions produced after hitting monthly hurdles.
Edward Jones is suing two advisors who moved to Ameriprise for allegedly violating non-solicitation agreements, making this the latest case of a brokerage firm taking its former employees to court over client contacts.
Raymond James has terminated seven financial advisors nationwide for improper sales of unit investment trusts (UITs) as a result of a FINRA regulatory sweep over the supervision of UIT sales by broker-dealers across the country. According to the regulatory filings, the financial advisors were based in Michigan, Florida, and Georgia.
When your team or partnership has issues or no longer can get along, the first step may not be to seek a resolution from your manager – whose interests may not be aligned with your interests. Instead, financial advisors need to locate their team agreement and seek assistance from a competent securities lawyer familiar with employment practices within the financial services industry.
Recently, regional firms such as Raymond James, Stifel, Ameriprise, and Janney Montgomery Scott have become a favored destination for many successful wirehouse advisors who transition from the wirehouses.
Across its private client, independent brokerage and in-bank brokerage channels, Wells Fargo Advisors experienced a net loss of 204 brokers during the fourth quarter of this past year.
Morgan Stanley has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 100% and 175% with a 9 year term in place.
The rapid innovation in the financial field gives investors numerous ways to achieve their goals. However, these new plethora of options have also exposed products hidden risks.
Listen to Kim Chavers' January 16th represent Eccleston Law LLC, during her interview on "Let's Talk Law!" Now available on Podcast!
Eccleston Law Offices is excited to announce our NEW fixed fee Transition Compliance Package for Financial Advisers!
