Charles Scwab's $15 million arbitration claim against Morgan Stanley for hiring brokers from its San Francisco office was rejected.
This week's top <i>InvestmentNews</i> stories feature an LPL exec's exit, potential pitfalls for brokers changing jobs, a flurry of adviser moves and a high-profile lesson in trust planning.
The transaction follows several similar deals in recent months, and the trend is likely to continue.
Aegis Capital is accused of facilitating an alleged penny stock scheme that generated $24.5 million in profits for clients and $1.1 million in commissions for the firm.
The regulator said he misrepresented $50 million private offering that later went into default
The law firm, which is representing the real estate investor in a number of cases, cites a breakdown in communication and failure to pay legal fees.
A big arbitration award, a story about recruiting bonuses and how Vanguard grabbed Pimco's bond crown were among the most read stories this week on InvestmentNews.com. Plus: Lessons from Robin Williams' estate and another investment team loss at LPL.
Gary Foose Jr. will join the firm's Houston office.
LPL gets back in the broker-dealer M&A hunt, adding to their retirement arm via Financial Telesis' 470 reps and RIA.
NFP Advisor Services chief James Poer says firm is adding 53 advisers and roughly $30 million in revenue, mostly from Financial Telesis.
Larry Roth, CEO of Cetera Financial Group, warns against consolidation at the expense of client and adviser relationships.
Brokers who make large drawdowns from their investment accounts may be showing their hand before breaking away.
Independent advisers continue to be happier at work than their colleagues who are employees of broker-dealers but the gap in job satisfaction among the two groups is narrowing. <i><a href="//www.investmentnews.com/gallery/20140630/FREE/630009999/PH"" target=""_blank"" rel="noopener noreferrer">See how your firm ranks</a></i>
<i>InvestmentNews</i>' four must-read stories of the week cover this ecclectic set of 'R' subjects.
B-D says new deal will result in cost savings comparable to what it would have realized had it moved clearing in house.
The indie B-D behemoth is facing more turnover at the top, this time among its team of investment management professionals.
RCS Capital has plenty of leverage as it negotiates with the clearing giant, but millions of dollars hang in the balance. <b><i>More: <a href="http://www.investmentnews.com/section/specialreport/20140810/CLEAR">The latest clearing and custody trends</a></b></i>
