Andrew Welsch

Douglas P. Simanski allegedly told clients he would invest their money in a “tax-free,” fixed-rate investment, a rental car company and a coal mining firm.

A focus on productivity has resulted in attrition of lower producing brokers, the firm says.

The firm is working hard to lure advisors away from its larger rivals, said CEO Ronald Kruszewski.

The ruling bolsters firm’s bid to push employees into private arbitration system. The advisor intends to appeal.

It’s the second big hiring announcement by the regional BD within the past week.

The group includes several industry veterans, one of whom has 50 years of industry experience.

The firm’s broker ranks expanded to 7,813 independent and employee advisors, a new high.

“This is a chance to redesign core systems, some of which go back to PaineWebber,” says Tom Naratil, president of UBS Wealth Management Americas.

Clients have filed hundreds of similar claims against UBS since 2013, with aggregate damages of $2.6 billion.

Ex-advisor Dawn Bennett, who allegedly dabbled in voodoo-type witchcraft, was found guilty by a federal jury of defrauding investors.

The relationship disintegrated because of a dispute about where to best place client trades.

Net income increased 31% from a year ago.

Advisor Brian Chilton’s $844,000 arbitration award could herald more losses for the firm.

Executives at the beleaguered firm say they are focused on quality, not quantity.

It’s at least the fifth time this year that the bank is suing a former advisor for allegedly violating a non-solicitation agreement.

The brokers moved their practices to rival firms Ameriprise and William Blair.

Jason Holland is the latest broker to leave the troubled wirehouse.

The new hires come almost a year after the two firms quit the Broker Protocol.

The Raymond James affiliate has snagged more than two dozen recruits this year.

A former employee suing the firm for racial discrimination says he was not properly notified of changes in how Morgan resolves disputes.