An arbitration panel has found Raymond James and its independent broker Kent Jackson Rhoades liable for nearly $20 million in an unfair competition case.
Four winners of this year's Top 40 Brokers Under 40 overall and regional lists, from Morgan Stanley, Merrill Wealth Management, William Blair and RBC, joined industry experts in sharing how big brokerages can hold onto young advisors in a red-hot labor market.
CEO Ralph Hamers said in an earnings call Tuesday that despite a flat headcount over the past quarter, advisor productivity remained high as the wealth unit brought in $23 billion of net new assets.
The Swiss wirehouse struck twice at rival Merrill Lynch, poaching both an ultrahigh net worth team managing $1.3 billion and a high net worth team with $340 million of AUM.