Morgan Stanley

FP 7/9 30 days Placeholder

Two advisers left Lebenthal Wealth Advisors to start their own practice approximately two years after they joined the firm.

Post-Brexit, many clients may want to sell, but others could see the volatility as a boon.

U.S. banks operating in the U.K. may have to deal with new sets of financial regulations — a process that will take time and create more uncertainty.

Wells Fargo, Morgan Stanley, Bank of America and J.P. Morgan Chase were among the dissenters, people familiar with the matter said.

The SEC found that auditing or testing would likely have revealed deficiencies in controls that allowed an employee access to client information at the wirehouse, says leading compliance expert Alan Foxman.

An arbitration panel ruled that the firm had failed to properly supervise the adviser.

Also, J.P. Morgan saw a team managing $300 million in client assets go independent.

The wirehouse's latest hires will support client development and strengthen product delivery, according to Morgan Stanley.

The new recruits are opening a new office for the independent firm.

The branch is staffed by 22 advisers, most of whom are recent recruits from Credit Suisse.

The regulator cited security oversights that led to the theft of thousands of customer accounts.

The firm's newest recruit is a veteran broker from Morgan Stanley.

The new recruits joined the wirehouse from Merrill Lynch and UBS.

Yet that wasn't Merrill's only recruiting success, as the wirehouse also picked up a team overseeing more than $500 million in client assets.

The case centered on the supervision of a now-barred broker, whose misconduct included encouraging athletes to invest in a Miami Beach nightclub and sending baskets of tequila to pro sports teams, according to FINRA.

The recruits made the move between wirehouses with two client associates.

The head of the advisory group also was returning to where his career started.

The new recruits are industry veterans who oversaw more than $330 million in client assets.

The firm's newest recruits generated $3.5 million in annual revenue.