AND SO IT BEGINS- UBS EXITS BROKER PROTOCOL

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Wire Houses are dying and they know it. It's there last ditch effort to stop losing all their brokers and clients

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The silver lining is that now with the money firms will be saving by not offering huge recruitment bonuses they can spend that on improving the lot of their current Advisors!

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So stupid!!!

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Merrill by year end

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How do you feel about this OP?

I find it comical

Whats broker protocol?

Prudential - a protocol enacted in 2004 governing what info advisors can take when they leave broker dealers. They implemented it because firms were suing advisors and their new firms

So by exiting broker protocol means the advisor can take client info and not fear being sued?

No. Now it’s back to the Wild West and law suits

They’re trying to retain talent

They essentially saying if you leave it is their client and they will see you in court. Not good for industry in my opinion.

Trying to prevent churning probably...?

Prudential... nothing to do with it brother (or sister)

Retention

Jones has never even been part of the protocol, and people leave and take their books all the time!

WH brokers are usually so brainwashed they are enjoying getting screwed.

FA1 can you clarify what you mean by that?

Do you mean their compensation?

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