{"id":5772,"date":"2015-03-05T00:00:00","date_gmt":"2015-03-05T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/03\/broker_and_adviser_news_morgan"},"modified":"2022-05-06T12:33:42","modified_gmt":"2022-05-06T17:33:42","slug":"broker-and-adviser-news-morgan","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/broker-and-adviser-news-morgan\/","title":{"rendered":"Broker and Adviser News: Morgan Stanley Sues Ameriprise Broker, Former UBS Broker Alleges Investor Risk Levels Were Mischaracterized, and Ex-Bank of America Merrill Lynch Trainees Seek Overtime"},"content":{"rendered":"\n

Morgan Stanley Accuses Ex-Broker, Now With Ameriprise, of Trying to Take Clients<\/strong><\/p>\n

Morgan Stanley Wealth Management is suing one of its ex-brokers, John McCallion, who is now with Ameriprise Financial Services (AMP). The wirehouse claims that McCallion went into Morgan Stanley\u2019s (MS) computer system before leaving the firm and changed his clients\u2019 phone numbers so he could take their business with him.<\/p>\n

The firm contends that while McCallion gave it a list of his clients\u2019 information, he put the data on a USB drive that could not be opened on Morgan Stanley\u2019s computers because of security issues. The Ameriprise broker has consented to a temporary restraining order that blocks him from pursuing the firm\u2019s clients. He also is facing a FINRA arbitration claim over the matter. McCallion had at first tired to argue against the temporary order and he denied taking the confidential list or trade secrets. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Morgan Stanley Accuses Ex-Broker, Now With Ameriprise, of Trying to Take Clients Morgan Stanley Wealth Management is suing one of its ex-brokers, John McCallion, who is now with Ameriprise Financial Services (AMP). The wirehouse claims that McCallion went into Morgan Stanley\u2019s (MS) computer system before leaving the firm and changed his clients\u2019 phone numbers so […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3751,3783,3752,3800,3787,3755],"tags":[],"class_list":["post-5772","post","type-post","status-publish","format-standard","hentry","category-bank-of-america","category-broker-misconduct","category-financial-firms","category-merrill-lynch","category-morgan-stanley","category-ubs"],"yoast_head":"\nBroker and Adviser News: Morgan Stanley Sues Ameriprise Broker, Former UBS Broker Alleges Investor Risk Levels Were Mischaracterized, and Ex-Bank of America Merrill Lynch Trainees Seek Overtime — Investor Lawyers Blog — March 5, 2015<\/title>\n<meta name=\"description\" content=\"Morgan Stanley Accuses 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