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Edward Jones Awarded Damages in Claim Against Former Broker

By Matias Montillano of Shustak Reynolds & Partners, P.C. posted on Tuesday, January 15, 2019.

On January 9, 2019, a Financial Industry Regulatory Authority (FINRA) panel found a former Edward Jones broker liable for $24,873 in compensatory damages due to the broker’s breach of contract and restrictive covenant with the firm [...] Read More

Financial Adviser Alert: Failure to Comply With FINRA 8210 Request Results in Adviser Bar

By George C. Miller of Shustak Reynolds & Partners, P.C. posted on Monday, January 14, 2019.

In late December 2018, FINRA barred former Morgan Stanley financial advisor Daniel T. Levine from associating with any FINRA member firm in any capacity by way of an Acceptance Waiver and Consent (AWC) settlement agreement.[...] Read More

Former Wells Fargo Advisor Wins $750,000 FINRA Award in Deferred Compensation Claim

By Matias Montillano of Shustak Reynolds & Partners, P.C. posted on Friday, November 9, 2018.

On December 5th, a Financial Industry Regulatory Authority (FINRA) panel in New York city awarded a former Wells Fargo financial advisor, Christopher John Tisi, $750,000 in a claim against Wells Fargo Advisors, LLC for deferred compensation. [...] Read More

Ex-Wells Fargo Advisor Granted Class Cert in Claim for Deferred Compensation

By Matias Montillano of Shustak Reynolds & Partners, P.C. posted on Friday, November 9, 2018.

Robert Berry worked as a financial advisor for Wells Fargo Advisors, LLC from 1994 until 2014. From 2005 to 2014, he participated in the Wells Fargo Advisors Performance Award Contribution and Deferral Plan [...] Read More

Firms Continue Aggressive Tactics Against Departing Advisors

By Katherine S. Bowles, Esq. and Carter E. Watkins of Shustak Reynolds & Partners, P.C. posted on Wednesday, November 21, 2018.

Both Protocol and Non-Protocol firms have continued their sue-first-ask-questions-later litigation strategy against departing advisors, and advisors should be on high alert even when they are making a Protocol transition. [...] Read More

FINRA Promissory Note Claims: Not Always a Slam Dunk Win for the Firm

By George C. Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Wednesday, November 7, 2018.

For the past 15+ years, it was extremely common for firms to recruit high-producing financial advisors and teams from one firm to another through large, up-front and back-end bonuses, often totaling 300% or more of the advisor’s Trailling-12 production [...] Read More

Morgan Stanley Continues Aggressive Litigation Against Departing Advisers Post "Prexit" (Broker Protocol Exit)

By Katherine S. Bowles, Esq of Shustak Reynolds & Partners, P.C. posted on Friday, September 21, 2018.

It has been almost a year since Morgan Stanley abruptly exited the Protocol for Broker Recruiting (“Protocol”), and in that time it has implemented an aggressive legal strategy against departing advisors. [...] Read More

“You Can’t Change What You Can’t See” – the ABA’s 2018 Report on Racial & Gender Bias in the Legal Profession

By Jonah A. Toleno of Shustak Reynolds & Partners, P.C. posted on Wednesday, September 19, 2018.

Earlier this month, the American Bar Association (ABA) issued its first-ever report on research conducted jointly by the ABA Commission on Women in the Profession (the “Commission”), the Minority Corporate Counsel Association (“MCCA”), and the Center for WorkLife Law at the University of California, Hastings College of the Law. [...] Read More

Current Investment Trends in Asia Pacific

By Erwin J. Shustak, Esq. of Shustak Reynolds & Partners, P.C. posted on Thursday, August 30, 2018.

The economic outlook for Asia Pacific remains strong, and the region continues as the most dynamic of the global economy. However, the region faces risks from a global tightening of financial conditions and a shift toward protectionist policies, particularly by the U.S. and the Trump Administration, which has pursued a confrontational, bi-lateral approach to trading agreements with countries in the region. [...] Read More

Wells Fargo Losing Financial Advisors to Competitors Amid Ongoing Regulatory Investigations

By George C. Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, August 24, 2018.

Wells Fargo’s wealth management unit continues to lose advisors to competitors following reports of a joint probe into the firm’s sales practices by the Justice Department and Securities and Exchange Commission [...] Read More