Bank Investment Consultant
Two law firms are pursuing FINRA arbitration claims on behalf of former Wells Fargo advisers who say they were cheated out of their “growth award” bonuses. The firms claim the bank engaged in patterns of conduct to deprive advisers of the bonus program it created to reward them for meeting revenue growth targets. Some advisers […]
Bank Investment Consultant
A FINRA arbitration panel has ordered Wells Fargo Advisors to pay a former client more than $262,000 for failing to promptly liquidate his brokerage account, according to a recent FINRA filing and details provided by the client’s lawyer. Jeffrey Ball, a Los Angeles psychologist, gave the firm written instructions to close the account because he […]
InvestmentNews
Original Story It’s no secret that small broker-dealers are struggling to keep their doors open as technology, compliance and legal costs continue to increase, especially as they prepare to put weighty new regulations such as the Department of Labor’s fiduciary rule into place. Indeed, the decline of the broker-dealer industry continues. According to the Financial […]
Globe Newswire
Aidikoff, Uhl & Bakhtiari and the Law Offices of Patrick R. Mahoney, P.C. announce the filing of a FINRA arbitration and its continuing investigation of the sales practices of former Independent Financial Group broker Kenny Kim for his management of client accounts and unsuitable recommendations of private non-traded REITs, annuities, structured products, and C-share […]
Financial Advisor
Investor plaintiffs’ lawyers say the Department of Labor’s fiduciary rule will give them some extra leverage in winning damages from arbitration panels—but they don’t expect a huge windfall. The DOL rule gives investors the right to file arbitrations or class-action claims for violations of the rule, giving rise to industry concerns about increased liability. Sure […]