Karmen Alexander

At least 25 clients with $56 million have transferred their accounts to Morgan Stanley from JPMorgan, according to the bank’s petition.

The ex-broker, who is now with an RIA, inaccurately altered the customer’s experience to qualify her for a risky options strategy, according to a Finra letter of settlement.

The larger of the moves is the Gold Key Private Wealth team, which joined &Partners in Naperville, Illinois.

Separately, a UBS team managing $600 million split to join Janney Montgomery Scott in Ohio. 

Ben Firestein, a 31-year Morgan Stanley veteran, most recently served as the wirehouse’s head of national recruiting.

Team managed $3.5 billion in assets, according to a Forbes ranking which listed the group as fourth in the state this year.

Team is opening a new RBC office in New Orleans, according to an announcement.

The firm ended September with 20,429 brokers, a 3% increase from 19,885 in the year-ago quarter. 

So far this year, Citizens has hired nine private wealth teams managing $10.8 billion in assets at their prior firms.

Scott Skinner had led the RBC’s Texas South complex since joining from UBS in November 2023.

Ameriprise Chairman and Chief Executive James M. Cracchiolo declined to identify the teams that left during the quarter.

The 16-person team was founded in 2014 by Andrew Lerner and Logan Shalmi, who were roommates in college.  

Stifel Chairman and Chief Executive Ron Kruszewski said the firm sees “no need to sell,” but did not entirely rule out the possibility.

Team produced $4.8 million in annual revenue, according to a spokesperson.

Team produced $6.1 million in annual revenue at Morgan Stanley, according to a source familiar with the move.

A Finra arbitration panel vindicated the broker in finding that he had “consistently urged” the customer to diversify his investments.

Team’s move marks &Partner’s 100th hire since launching in 2023, according to a firm announcement.

Team produced $6 million in annual revenue, according to a source familiar with the move.

Broker sent text messages with customer information, including values of annuities and account transfer requests, to a Wells coworker, according to Finra.

Team’s move adds to the tally of Commonwealth teams that joined Raymond James last week.