Category Archives: Broker Agreements
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 »