Tagged with "wirehouse"

Merrill Lynch Pays $40 Million to Settle Broker Churning

Posted on January 7th, 2020 at 1:23 PM
Merrill Lynch Pays $40 Million to Settle Broker Churning

Churning allegations involving a former Bank of America’s Merrill Lynch (“Merrill Lynch”) broker have cost the wirehouse $40 million, and it still faces another costly complaint from another customer related to the same broker.

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Regional Firms Are Becoming a Favored Destination for Wirehouse Advisors

Posted on August 17th, 2018 at 9:39 AM
Regional Firms Are Becoming a Favored Destination for Wirehouse Advisors

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.

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Merrill Moves to End Commission IRAs

Posted on October 25th, 2016 at 8:56 AM
Merrill Moves to End Commission IRAs

In response to the Department of Labor’s fiduciary rule, which is set to begin on April 10, 2017,  Merrill Lynch has decided to end its commission IRA business.  

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TESTIMONIALS

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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

LATEST NEWS AND ARTICLES

March 24, 2023
Heartland Bank & Trust Co. Agrees to $9 Million Settlement For Allegedly Aiding and Abetting a Ponzi Scheme

The Securities and Exchange Commission (SEC) has agreed to a $9 million settlement
with Heartland Bank & Trust Co. over the bank’s alleged role in aiding and abetting a $75
million Ponzi scheme.

March 23, 2023
Morgan Stanley Obtains TRO Against Pennsylvania LPL Advisor Over Inherited Accounts and Misrepresentations

A federal judge has awarded Morgan Stanley a temporary restraining order (TRO)
against a Pennsylvania-based advisor who recently departed for LPL Financial.

March 22, 2023
Sanford Bernstein & Co. and Alliance Bernstein Face FINRA Arbitration Claim Over Options Advantage Strategy

Sanford Bernstein & Co. and Alliance Bernstein (Bernstein) are facing what could be the first of several Financial Industry Regulatory Authority (FINRA) arbitration claims related to its Options Advantage Strategy.