News Roundup

News Roundup (676)

Edward Jones Takes Step Toward Giving Advisors Discretion

For the first time, Edward D. Jones & Co. has opened the door on allowing its financial advisors’ discretion over client assets. So reports AdvisorHub.


UBS Lands Merrill Lynch Team with $700M in Assets

UBS Wealth Management USA has brought on another advisory team previously affiliated with Merrill Lynch. So reports InvestmentNews.


Merrill Lynch Headcount Ticks Up Despite BofA Cuts  

Merrill Lynch Wealth Management has announced that its headcount edged higher in the third quarter in the face of job cuts at parent company Bank of America. So reports


Morgan Stanley Wins Order Against $5M Breakaway Team

Morgan Stanley has secured a temporary restraining order against a breakaway team in Vero Beach, Florida, that produced almost $5 million in annual revenue. So reports AdvisorHub.


Ex-Raymond James Exec Sues Over Sexual Harassment

A former Raymond James executive has sued the firm, claiming she was wrongfully terminated in retaliation for filing an Equal Employment Opportunity Commission complaint alleging sexual harassment and discrimination. So reports ThinkAdvisor.


FAs Could See Bounce in Charitable Giving: BofA

While a smaller share of wealthy American households gave to charity last year than in 2020, when donations soared, the well-off are still giving more than they did before the pandemic, Bank of America says. So reports Marketplace.


Wells Fargo Adds Four Regional Recruiting Directors  

Wells Fargo has named four new regional directors to lead wealth-management recruitment efforts. So reports Barron’s.


Wells Fargo’s Former Retail Banking Boss Avoids Prison Time  

Carrie Tolstedt, who was formerly head of retail banking at Wells Fargo, has avoided prison time for her role in the bank’s sham accounts scandal. So reports CNN.


UBS Team Generating $4.8M Jumps to Rockefeller  

A UBS Wealth Management USA team that brought in $4.8 million in annual revenue has decamped for Rockefeller Capital Management, per a source familiar with the situation. So reports AdvisorHub.


UBS Hires Merrill FAs Running $700M  

UBS Wealth Management USA has picked up two Merrill Lynch veterans who oversaw more than $700 million in client assets. So reports AdvisorHub.


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