Brent invited to speak at the Practicing Law Institute (PLI): Fundamentals of Broker-Dealer Recruiting, appearing on a panel with Richard Berry, FINRA Director of Dispute Resolution to discuss FINRA Arbitration. (July 23, 2018)
Finra probes brokerage bank sweep accounts as commissions dwindle
Financial Industry Regulatory Authority Inc. emphasized that it would probe bank sweep programs in which brokers put uninvested customer money into accounts at affiliated banks or into money market funds. . . . With Finra peering over their shoulders, brokerages will have to do more than automatically put customer cash into a...
Finra guidance could help departing reps hang onto clients
Brent quoted in Investment News - FINRA's new guidance makes it easier for client's to find and follow their Registered Reps during transitions. This will likely weaken the effect of non-solicitation agreements and blur the distinction between Protocol and Non-Protocol firms.
Teaching attorneys about the Protocol for Broker Recruiting
Brent was invited to Los Angeles to speak on a Panel to teach other attorneys about recent developments related to the Protocol for Broker Recruiting at the Public Investors Arbitration Bar Association's (PIABA) mid-year CLE event: Current Issues in Securities Dispute Resolution. (May 5, 2018)
CNBC – Closing Bell: Will firms’ withdrawal from pact keep advisers from leaving?
Brent discusses firms leaving the Protocol for Broker Recruiting
The Wall Street Journal: Wall Street Fights to Keep Brokers
“This is [Wall Street] waving the white flag,” said Brent Burns, a New Jersey-based attorney who represents financial advisers. The biggest brokerages “are trying to stem their losses by putting up a fence.”
Morgan Stanley dumps broker recruiting protocol
"Investors have long relationships with brokers, although firms like to think the relationship is with the firm, and sometime it is," said Brent Burns, an industry attorney. "But most of the relationship is with the adviser. Watch all the ads on TV — the broker is at the wedding, he's there when...
WSJ Wealth Adviser Briefing: Morgan Stanley’s Protocol Exit, 401(k) Studies, Adviser Voice
“The fear is who’s next,” said Brent Burns, a New Jersey-based attorney who represents financial advisers. “If anyone was on the fence, this may push them over. I expect a lot of recruiting” in the coming days, he said, with some advisers making the jump to the independent channel. While it remains...
The Wall Street Journal: Vonnegut: ‘Harrowing’ Fight for Brokers Who Take on the Firm
FINRA: From 2013-14, firms seeking the balance on unpaid loans from ex-brokers won 93% of the time.
The Wall Street Journal: FINRA Strengthens Broker Penalty Guidelines
Brokers can now be permanently disbarred in cases of 'aggravated' circumstances.