Wells Fargo will remain a member of the Protocol for Broker Recruiting Agreement, the arrangement that pared back litigation between brokerages when financial advisors leave for another firm, a spokesperson for Wells Fargo told WealthManagement.com. ... Cherry-Picking in the OC The Securities and Exchange Commission has charged an investment advisor and senior officers of the firm in a fraudulent “cherry-picking” scheme. According to the complaint, Orange County-based Strong Investment Management and its president and owner Joseph Bronson cherry-picked profitable trades for his personal accounts and allocated losing trades to his advisory clients. ...
New Jersey Financial Advisor Accused of Stealing from Elderly Clients A former financial advisor from Woodcliff Lake, N.J., has been arrested and charged with stealing money from his elderly clients, NorthJersey.com is reporting. Jeffrey Palish, 65, is suspected of stealing at least $600,000 from clients over four years. ...
