Lawsuits

Nicholas Takahashi stood accused of taking confidential information when he left for Raymond James last summer. But a federal judge said she saw no convincing evidence of illicit dealings.

Edward Turley, a once high-flying advisor booted from the industry in 2022, is at the center of a dozen client settlements costing JPMorgan upward of $63 million.

Michael Bernier oversaw roughly $165 million in client assets at Canter Strategic Wealth Management, a firm with $300 million under management. Then he left to join LPL.

Industry watchdogs stayed busy trying to root out elder fraud and off-channel communications while plaintiffs lawyers' questioned firms' sweeps policies and regulators' basic authority.

While at Schwab, Roberto Ortega worked with clients whose accounts held more than $1.5 billion. A lawsuit seeks to bar him from soliciting their business for his new employer.

The rival firms will pay for a forensic consultant to preserve evidence of transferred confidential data while they await FINRA arbitration.

A former wealth manager contends she was unfairly denied disability payments after fibromyalgia and other health complaints forced her to stop working in 2022.

The Texas AG leads a lawsuit against BlackRock, Vanguard, State Street, alleging asset managers' influence on coal production led to higher energy prices.

Former Western Asset Management co-Chief Investment Officer Ken Leech was charged with engaging in an alleged "cherry-picking" trading scheme.

The bulk of the haul came from the bankrupt crypto company Terraform Labs. But Morgan Stanley, LPL Financial, Ameriprise and other big firms also came under scrutiny.

FINRA must let the SEC weigh in before it can cast out one of its members, a three-judge panel of the U.S. Court of Appeals for the District of Columbia found.

Nicholas Takahashi and his team are accused of deliberately trying to poach the clients of a former colleague managing hundreds of millions in assets and producing more than $1 million a year in revenue.

Former financial advisors accused the firm of filing false disclosures about a template invoice their onetime employer claimed they sent to clients.

The firm's new policy of keeping discrimination complaints out of court isn't sitting well with at least two financial advisors.

Its backers should file a lawsuit based on the "very flimsy" exemption for prohibited transactions enabling annuity sales under current rules, an expert says.

An LPL vice president testified that 30 former Ameriprise advisors imported client information for accounts with more than $1 billion under management and $16 million in yearly revenue generation.

A suit filed in federal court marks the third time in recent months that Charles Schwab and its affiliates have been accused of failing to prevent elderly clients from being swindled out of their life savings.

In court response, LPL warns victory for Ameriprise would "chill" advisors' ability to move from one independent broker-dealer to another.

In a recurring pattern, Ameriprise again accuses its industry rival of encouraging a recently recruited advisor to "harvest" and bring over confidential client information.

The case is one of the latest to question if firms can be held liable for costly investment decisions made by clients showing signs of mental decline.