Lawsuits between third-party vendors and broker-dealers or RIAs are uncommon in the relatively small wealth management marketplace.
“Both sides, the firms as well as the regulators, want to clean up their books going into the new year,” one executive said.
The firm allegedly missed warning signs linked to stock transfers, one attorney claims.
2024 saw substantial turnover at the top of the financial advice industry; at least half-a-dozen CEOs were replaced or announced they were leaving
Stifel this fall lost a stunning $14.2 million arbitration claim linked to Chuck Roberts.
David Braeger is at least the second former advisor from Wisconsin this year to face prison time.
For more than a decade, Raymond James has been one of the most aggressive firms to hire financial advisors from competitors.
FiNet is the independent broker-dealer arm of Wells Fargo Advisors.
Western International Securities was acquired by LPL this year.
“The arbitration panel felt that [the advisor] was disrespecting the process,” the clients' attorney said.
