Patrick Burns

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  7 Protocol Essentials for Breakaway Brokers

  By Gil Weinreich, AdvisorOne  |  May 9, 2012

  Securities attorney Patrick Burns says following breakaway protocol is necessary not only to a broker's relationship with his old firm, but with his new one as well.

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  FINRA Fines Merrill $1M Over Retention Bonus Disputes

  By Janet Levaux, AdvisorOne  |  January 25, 2012

  The disagreements involved about 90 advisors out of the 5,000-plus that received $2.68 billion in retention-bonus payments after BofA bought Merrill Lynch in early 2009.

• UBS Sees Leaders Exit, Expects Profit

  By Janet Levaux  |  October 26, 2011

  UBS said in early October that the co-heads of its global-equities unit resigned in response to the unauthorized trading that caused a $2.3 billion loss at the bank in mid-September. A former Bank of America-Merrill Lynch executive is now the sole leader of the unit. These shifts come on the...

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  Morgan Keegan Court Victory May Actually Be ‘Enormous Defeat,’ Recruiter Says

  By Janet Levaux  |  October 10, 2011

  A recent ruling by a judge overturning a $9.2 million award in Morgan Keegan’s favor isn’t likely to give parent company Regions Financial much upside as it looks to sell the brokerage firm, experts say.

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  Sale of UBS-Americas Would Be ‘Nuclear Option,’ Says Expert

  By Janet Levaux, AdvisorOne  |  September 29, 2011

  UBS may need to consider spinning off its U.S. operations as a worst-case scenario, according to recruiters and others.

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  UBS Loses ‘Credibility’ Again, Recruiters Say

  By Janet Levaux  |  September 20, 2011

  The latest scandal at UBS shouldn’t financially impact its U.S.-based financial advisors, experts say, but it could weaken the wirehouse firm’s recruiting and retention efforts.

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  Noncompliance Roundup: Stifel, Nicolaus; Citigroup; Janney

  By Editorial Staff  |  August 18, 2011

  A roundup of recent charges, penalties and settlements--this week relating to fraud, insider trading and failure to supervise--from the SEC and FINRA.

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  Are You a Wirehouse Broker Thinking of Independence? Consider What You Owe

  By James J. Green, AdvisorOne  |  July 29, 2011

  Attorney Patrick Burns warns brokers to consider their obligations from recruitment or retention packages

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  3 Lessons From Advisor’s FINRA Win Over BofA-Merrill

  By Janet Levaux, AdvisorOne  |  June 20, 2011

  FINRA ordered BofA-Merrill Lynch to pay one of its former advisors about $1.5 million in damages and change his Form U5 last week, and Patrick Burns, a lawyer, shares what that decision means for advisors.

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  Three Lesson from FA’s $1.5 Mil FINRA Win Over Merrill

  By Janet Levaux, AdvisorOne  |  June 20, 2011