This Week’s Top Stories: Fisher Faces Backlash, Morgan Stanley Lands UBS Ohio Teams, and More

October 12, 2019

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  1. RIA Consultant Bars Ken Fisher from Conferences After Remarks About Women
    Tiburon Strategic Advisors founder Chip Roame says “offensive” comments by billionaire advisor exacerbate the wealth industry’s attempts to be more inclusive.
  2. Brokers with Subpar Investment Returns Escape Indie Firm Oversight–Study
    Around one-fifth of firms in Cerulli study, most of which are IBDs, do not monitor managed account returns or fail to take away discretion from underperformers.
  3. UBS Manager’s Family Sues Over Deathbed Beneficiary Changes
    Mother of deceased complex manager Erich Frank says she is entitled to arbitrate her claim even though Finra ruled that she was ineligible.
  4. Morgan Stanley Scores Two Teams from UBS in OhioSeven of eleven advisors in UBS’s Columbus-area office—including the branch manager who left on Monday—moved to rival in the past month.
  5. Stifel Clients Awarded $1.5 Million in Failure-to-Supervise ArbitrationThree clients claimed firm ignored red flags as broker concentrated them in biotech and healthcare stocks as the investments were shedding value.

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