Ameriprise

Two representatives in a New Jersey office made lewd comments and created a hostile work environment, the former employee says.

The firm’s recruiting is also gaining steam, despite the ongoing impact to its bottom line from low interest rates.

The acquisition will add $124 billion of European AUM and give Ameriprise access to the Canadian bank’s ESG strategies. It will also initiate a distribution relationship with the Bank of Montreal’s North American wealth management business.

The rare move to set aside the regulator’s ruling came more than a decade after the rep ran into trouble by adding notes about his client into a software program.

The brokers collectively generated more than $88 million in annual revenue while overseeing nearly $15 billion in assets under management.

At an average age of 37, the top-producing brokers operate in 18 different states, plus the District of Columbia and Guam.

The nearly 10,000 advisors affiliated with the firm grow 2.5 times as fast as their peers at rival brokerages, CEO Jim Cracchiolo says.

Necessary new approaches include better cultural understanding, more flexibility for new entrants and more outreach, advisors and executives say.

Even with those challenges, rep productivity and client cash balances expanded in the third quarter.

The father-son practice with two other advisors switched their affiliations after its founder had spent 18 years with New York Life.

The advisor is asking a judge to reconsider the order, saying he wasn’t given a chance to defend himself against accusations of violating a non-solicitation agreement.

The St. Louis-based firm claims its rival “instructs incoming recruits to compile client information from their former firm” as a matter of course.

The independent broker-dealers big enough to serve the most financial advisors enjoy advantages but face distinct challenges.

The Minnesota-based Falldin-Mattson Group was previously at Morgan Stanley.

Earlier this year, FINRA arbitrators granted the former advisor’s expungement request, but still sided with the firm on its demands for repayment of two promissory notes.

For the first time, the ranks of the top 25 firms according to their annual business include single entries for IBD networks.

Advisors typically take most of their clients with them when they go independent, but not all of them do.

“Through these difficult times, we are able to work remotely and seamlessly” thanks to the firm's digital tools, ex-RBC advisor says.

The father-son team praised Ameriprise’s assistance in the face of the coronavirus pandemic after making the move.

Ameriprise’s chief took a 5% cut in his compensation, even as the firm cited notable positive results that buoyed the industry last year.