A U.S. District Court Judge has ordered the mother and domestic partner of a former UBS Wealth Management complex manager, who died in January 2019 at age 48, to split nearly $649,000 in assets.
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A U.S. District Court Judge has ordered the mother and domestic partner of a former UBS Wealth Management complex manager, who died in January 2019 at age 48, to split nearly $649,000 in assets.
Robinhood Financial has begun piloting a new wealth-management tool, known as its “Recommendations” engine.
Financial services is the only industry where you are guilty after being found innocent.
On March 25, Morgan Stanley Wealth Management’s technology system crashed. As a result, both brokers and clients were unable to view account information or place orders. Brokers did report being able to complete orders by using a link they were provided. Investors who were not able to access their account online were told to call the firm to place trades.
Over the past 18 months, regional firms like Ameriprise, Raymond James, and Stifel have been accumulating assets at levels unseen before.
In an effort to become a dominant player in the financial advice business, Goldman Sachs Group Inc. has announced that it has agreed to buy United Capital Financial Partners Inc. for $750 million.
After one of the worst first quarters in the recent history of UBS, the wealth management group is now experiencing a significant downsize. How significant? UBS now has to cut nearly $300 million in costs for a chance at recovery.
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.
The Financial Industry Regulatory Authority (FINRA) has levied a $15,000 fine and a 21-month suspension against a former advisor, Jeffrey W. Davidson, based in Austin, Texas. Davidson engaged in fundraising activities that raised over $10 million for a fitness company owned by him and his wife.
A 46-year industry veteran from Braintree, Massachusetts, Timothy W. Leveroni, has settled a disciplinary matter by the Financial Industry Regulatory Authority (FINRA) for falsifying signatures, per a settlement agreement known as an Acceptance Waiver and Consent (“AWC”).
The Securities and Exchange Commission (SEC) has filed fraud charges against Jesus Rodriguez, accusing him of misappropriating nearly $3.5 million from at least 10 brokerage account holders and advisory clients.