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June 24, 2019

Merrill Lynch Accused of Failing to Pay Minimum Wage in Class Action Lawsuit
The suit is brought by call center workers in Illinois.
Who Wins in a Fiduciary Fight – Feds or States?
The focus is on a 1996 federal law that has a provision on limitations on what states can do when regulating brokers and dealers.
Deutsche Bank Continues Wealth Management Expansion
Plus Dynasty and Carson make key plays.
Edward Jones Fined Over Alleged Inaccuracies About Customer Complaints
The firm had claimed alleged damages of $5,000 on dozens of complaints while actual damages sought were as high as $630,000.
BMO Hires BNY Mellon Exec to Lead Family Office
Shannon Kennedy will lead a team of more than 200 people overseeing ultra high net worth clients.
Raymond James Reportedly Keeping 2020 Comp Plan Unchanged
Brokers in the employee channel will reportedly continue to be able to keep 28% to 50% of production.
Sponsored Webcast
Archive: Danger: Compliance Risks for Advisors and How to Turn them into Opportunities
Satisfying compliance requirements adds steps and time to simple tasks, but financial advisors know they can’t risk skipping any of them. This webcast, sponsored by Seismic, discusses how smart processes can help advisors turn these requirements into opportunities to stand out among their peers.
More FAs Jump Ship for Stifel
Three advisors collectively overseeing $441 million have joined the firm from RBC.

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