When Dynasty Financial Partners landed Michael C. Brown as a partner and director of wealth management, the firm was determined to create a wealth management business where elite financial advisors could run their practices.
Then came the lawsuit from Brown’s old firm, U.S. Trust, Bank of America/Merrill Lynch. There, he was a managing director and wealth advisor in its wealth management division. Bank of America filed the lawsuit in New York Supreme Court last week, and accused Brown and his team of improperly taking client account information with them as they left the company for Dynasty Financial Partners, according to press reports.
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