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Seller Beware: SEC Sues Former Broker Who Sold Practice to Fraudulent RIA

Highlighting the perils of do-it-yourself succession planning, the Securities and Exchange Commission this week brought civil charges against a former advisor who sold his practice to an alleged fraudster in Jacksonville, Florida.  In what lawyers characterized as an unusual and portentous step, it charged now-barred advisor James Blake Daughtry, 50, of Dothan, Alabama, for breaching […]

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Money Talks? UBS Binges on Merrill, Morgan Stanley Teams As Deadline for Sweetened Offers Looms

UBS Wealth Management USA has lured another batch of teams who had managed around $2.4 billion in combined assets at rival wirehouses as the October 1 deadline for its sweetened recruiting package approaches. In the largest of the recent moves, two teams of Merrill Lynch lifers managing a combined $1.3 billion in client assets in […]

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