Category Archives: Broker Agreements
LPL to Acquire Commonwealth – No Specifics Announced on Retention Bonuses
According to published reports LPL Financial has agreed to acquire Commonwealth Financial Network, for $2.7 billion. The deal is expected to be finalized in the second half of 2025. The deal is expected to close in the second half of 2025 and continues LPL’s recent move to increase its headcount of roughly 29,000 brokers,… Read More »
Atria Wealth Solutions Advisors to receive Retention Bonus offers from sale to LPL Financial
According to published reports, LPL Financial has finalized a deal to acquire Atria Wealth Solutions, an independent broker-dealer. LPL has agreed to pay $805 million however, the price could rise to over $1 billion, with the retention of at least 80% of Atria’s brokers. The deal is expected to close in the second… Read More »
UBS files arbitration claim against one of its former advisors, Robert E. Turner, seeking to recover $17mm in customer losses from “sham” investment, Fairfax Financial Corporation.
According to published reports, UBS has filed a FINRA arbitration seeking to recover losses it expects to pay to customers of the firm who were duped into purchasing a “sham outside investment” Fairfax Financial Corporation. According to the article, Turner allegedly persuaded 23 clients to purchase Fairfax Financial Corporation between 1997 and 2021 and generated… Read More »
FINRA gets tough on Private Securities Transactions
In a published article, FINRA suspended a former independent advisor with Ameriprise Financial, Jonathan M. Turner, for three months and imposed a $5,000 fine for failing to provide written notice to the firm that he participated in a private securities transaction in violation of FINRA Rules 3280 and 2010. According to the article, Turner accepted… Read More »
Edward Jones Aims to Hire 1,500 Brokers in 2022
Edward Jones has announced it has restarted its hiring efforts setting a target of hiring 1500 experienced brokers and trainees in 2022. For those experienced brokers, its always a good idea to consult with an experienced securities employment attorney prior to signing an offer letter or agreement. If you have an established book of… Read More »
