According to a recent report issued by industry consultant Cerulli; independent broker-dealers (IBDs) have posted the highest compound annual growth rate in the last five years in comparison to any other type of broker-dealer.
Tagged with "UBS"
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Independent Broker-Dealers Continue to Register Large Asset Growth
Posted on December 12th, 2018 at 10:08 AM
Customer Files FINRA Arbitration Claim Against UBS Over Its Failure to Supervise Former Broker
Posted on December 7th, 2018 at 2:34 PM
UBS Financial Services is facing a claim from a customer that it failed to supervise one of its former brokers, Alex G. Herrera of Coral Gables, Florida.
UBS and Morgan Stanley’s Decision to Leave the Protocol for Broker Recruiting Has Paid Off for Them
Posted on December 6th, 2018 at 9:37 AM
Since UBS and Morgan Stanley’s decision to pull out of the Protocol for Broker Recruiting last year, the number of advisors departing those firms appears to have slowed. This is good news for Morgan Stanley and UBS which want to reduce recruiting costs and instead focus on the growth of their advisors’ book of business through investments in technology.
UBS Replacing Non-Solicitation Language in Advisor Bonus Agreements
Posted on December 5th, 2018 at 4:34 PM
UBS has announced that will replace the non-solicitation language that was introduced in its 2017 bonus agreements with a standard, but still onerous, 12-month non-solicitation provision.
How Does a Temporary Restraining Order (TRO) Impact Your Business?
Posted on October 23rd, 2018 at 10:04 AM
A Temporary Restraining Order (TRO) is an extreme remedy that financial services firms frequently employ to stop advisors from transitioning their clients to a new firm. While the TRO requires the parties in the case to maintain a certain status quo until the court can hear further evidence, the delay overwhelmingly harms the departing advisor. In many respects, the TRO fight is not the battle; instead, it is the very war itself.
UBS to Keep the Core Parts of its Compensation Plan Unchanged in 2019
Posted on September 18th, 2018 at 4:16 PM
UBS Wealth Management has announced that its 6,900 advisors will be able to keep their payout grid and other key components of their compensation plan in 2019. Moreover, according to UBS, the firm is only intending to make minor changes to its 2019 compensation plan.
UBS Fined for Failing to Educate Brokers on Complex Product Sales
Posted on October 17th, 2016 at 10:57 AM
The SEC has fined UBS Financial Services over $15 million because of its failure from 2011 to 2014 to educate and train retail brokers on the sale of almost $11 billion of complex structured products.
Two UBS Advisory Firms Settle Charges Arising From Failure to Disclose Change in Investment Strategy
Posted on November 3rd, 2015 at 9:10 AM
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The Securities and Exchange Commission announced that two UBS advisory firms agreed to settle charges relating to their failing to disclose a change in investment objective of a close-end fund, UBS Willow Fund LLC, which they advised. Both firms agreed to collectively pay $17.5 million, $13 million of which will be returned to harmed investors.
Broker Misconduct Charges Leads UBS to Pay $34Million Fine
Posted on October 15th, 2015 at 4:08 PM
UBS Financial Services of Puerto Rico was hit with a $34 million fine to settle charges brought by the SEC and FINRA. Jose Ramirez. Jr., a former broker in UBS’s Guaynabo branch in Puerto Rico, persuaded investors to use funds from lines of credit with UBS Bank USA to purchase additional shares in UBS closed-end funds profiting at least $2.8 million.
Former UBS Broker Pleads Guilty to $1 Million Securities Fraud
Posted on March 24th, 2015 at 11:34 AM
A former UBS broker from New Jersey pled guilty for stealing over $1 million from a retired pediatrician and his wife by fraudulently soliciting them to invest in his purported hedge fund, RKS Capital, LP.
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