Mason Braswell

New York

Editor-in Chief at AdvisorHub

Editor @AdvisorHubInc. [email protected]

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Articles

UBS Ordered to Pay Idaho Broker $1 Million Over Wrongful Termination

3 days ago | advisorhub.com | Karmen Alexander |Mason Braswell

UBS Wealth Management USA has been ordered to pay a Boise, Idaho-based broker $1 million based on allegations of wrongful termination and age discrimination, according to a split decision finalized on Tuesday. Two out of three Financial Industry Regulatory Authority arbitrators found that Randy S.
Exclusive: General Catalyst Woos Ex-First Republic Bigwig Arif Ahmed

5 days ago | advisorhub.com | Mason Braswell

GC Wealth, the upstart RIA arm of venture capital firm General Catalyst, has hired a former top producer from First Republic Bank. Arif Ahmed left J.P. Morgan Advisors, whose parent acquired First Republic in 2023, on May 20, according to registration records.
LPL CEO Tweaks Competitors, Says Its Closing the Gap With Wirehouses

1 week ago | advisorhub.com | Mason Braswell

LPL Financial is hoping to shed its image as a home for only low-level producers and close the gap by next year in areas where it lags its wirehouse rivals, Chief Executive Rich Steinmeier said on Wednesday.
UBS Head of Advisor Recruiting and Retention to Join RIA Sapient Capital

3 weeks ago | advisorhub.com | Karmen Alexander |Mason Braswell

The head of advisor recruiting and retention at UBS Wealth Management USA resigned on April 9 and is expected to sign with an Indianapolis-based registered investment advisor, according to two sources familiar with the move. David J. Larado, who started his career as a trainee at UBS 18 years ago, plans to join Sapient Capital following a notice period required by his wirehouse employment agreements, the sources said.
Where’s Waldo: Compliance Officials Grapple With Keeping Track of Brokers in Remote Era

3 weeks ago | advisorhub.com | Mason Braswell

Compliance officials from regional broker-dealers to online investment service Robinhood Markets are calling for better tools and regulatory guidance for keeping tabs on increasingly remote workforces. “We’re the last to find out that somebody has moved,” said Greg McShea, general counsel at regional brokerage Janney Montgomery Scott, on a panel at the Financial Industry Regulatory Authority’s annual conference in Washington, D.C., on Thursday.
LPL CEO Wines, Dines, Takes ‘Rain-Soaked Bike Rides’ to Woo Commonwealth Brokers

1 month ago | advisorhub.com | Miriam Rozen |Mason Braswell

LPL Financial Chief Executive Officer Richard C. Steinmeier adhered on Thursday evening to a rosy forecast that his company will retain 90% of Commonwealth Financial Network’s advisor roster when it finalizes its proposed $2.7 billion purchase of the company.
UBS Switches Stock Plan Software Provider, Cutting Morgan Stanley Tie

1 month ago | advisorhub.com | Mason Braswell

UBS Wealth Management USA is switching software providers for its stock plan management business as an earlier contract with rival wirehouse Morgan Stanley is ending. UBS has partnered with Raleigh, North Carolina-based insightsoftware to help companies and executives create and manage employee equity plans, according to an announcement on Tuesday.
Stifel Wealth Earnings Slide 57% After Costly Arbitration Loss

1 month ago | advisorhub.com | Mason Braswell |Karmen Alexander

Stifel Financial’s Global Wealth Management earnings fell by almost 57% in the first three months of the year as legal costs soared following a large arbitration ruling. Stifel’s wealth profit fell to $126 million from $291 million in the year-ago quarter, the company reported on Wednesday. The firm said it set aside $180 million in the quarter tied to a single arbitration ruling and reserves for pending related arbitration claims.
Merrill Lynch Loses Teams With $3.5 Billion to Rockefeller, Morgan Stanley, Adds $1.9 Billion Group

1 month ago | advisorhub.com | Karmen Alexander |Mason Braswell

Amid a frenzied week of moves, Merrill Lynch has lost a $2 billion-asset team going to Morgan Stanley and another two teams managing $1.5 billion combined who moved to Rockefeller Capital Management but gained a team that managed $1.9 billion at Raymond James. The moves extend Merrill’s losses for the week after two teams managing $2.9 billion combined joined Stifel Financial on Wednesday.
RBC Woos J.P. Morgan Team Managing $5 Billion in New York City

1 month ago | advisorhub.com | Mason Braswell

RBC Wealth Management-U.S. notched one of its largest hires on Thursday, a J.P. Morgan Advisors team managing $5 billion in assets in New York City, a spokesperson confirmed. The Degenaars Babb Group is led by Glenn S. Degenaars and Jason L. Babb, who have 16 and 17 years of experience, respectively. They had joined J.P. Morgan, the Wall Street bank’s cadre of traditional brokers, in May 2023 through the bank’s purchase of First Republic at government auction.