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Former Lehman Brothers Chairman and CEO Richard Fuld Jr. is rebranding his New York-based wealth management firm as Matrix Private Capital Group, catering to high-net-worth individuals, family offices and institutions. The rebranded firm goes beyond helping clients with their liquid assets, it helps clients grow their privately-owned businesses as well, according to a statement. ...
Former Morgan Stanley FA Sues for Alleged Anti-Semitism
Michael Pellegrino, 46, of Staten Island, claims that during his time as a financial advisor with Morgan Stanley he was “constantly bullied, disparaged and caused to feel inferior because of his association with the Jewish clientele.” The suit alleges that he was ordered to cease business with Hasidic Jews by his superiors, who called his Orthodox clients “unicorns,” a code word for supposedly unreliable clients. ...
Texas Lawmakers Pass Elder Financial Protection Act
Texas lawmakers have put into effect the Elder Financial Protection Act, which sets new standards to fight financial scamming and abuse of senior citizens. The provisions define financial exploitation, provide banks, stockbrokers and other financial advisors the chance to contact local law enforcement or a trusted third party and allow institutions the option to place a 10-day hold on accounts once a report is made to law enforcement or the Texas Department of Family Protective Services. ... |
