This Week’s Prime 5: J.P. Morgan Advisors Retools Comp, UBS Boots Dealer Over Outdoors Enterprise, And Extra – AdvisorHub

October 23, 2021

  1. J.P. Morgan Advisors Provides Dealer Comp a Facelift, Provides Sunsetting Program
    Phil Sieg, who took over the standard brokerage unit earlier this 12 months, briefed advisors on Tuesday a couple of new grid components and bonuses for asset gathering, size of service and teaming.
  2. UBS Provides Strolling Papers to Ohio Workforce Chief over Outdoors Enterprise Issues
    Patrick R. Murray, who led a Sandusky, Ohio-based UBS workforce, was discharged in September for stepping past the scope of the wirehouse’s approval letter for his exterior enterprise exercise, based on a U5 submitting with regulators. 
  3. Rockefeller and LPL Nab Merrill Defectors in Texas and Michigan
    The most recent Merrill departures embody a three-advisor San Antonio workforce managing $500 million in shopper property, and a solo advisor in Troy, Michigan managing $150 million.
  4. First Republic Notches Tenth Workforce This 12 months With $3.1-Mln Merrill Group in NY
    The financial institution’s Chairman and Co-CEO James H. Herbert II mentioned it was benefitting from word-of-mouth referrals from those that had already joined. 
  5. Ex-Dealer Loses Bid to Overturn Bar Over Alleged Theft of $1-Mln from RBC
    Finra appeals panel mentioned that the dealer’s actions mirrored “dishonesty” and didn’t grant him leniency for returning the cash to RBC.



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