UBS Loses TRO Battle, Ameriprise Wins Again

In our last BP Bullets we posted our article “Ameriprise Shows Industry How to Win Against Morgan Stanley TROs” and with last week’s victory, Ameriprise shows industry how to win against UBS as well.

See AdvisorHub article: UBS Broker in Charlotte Joins Ameriprise, Shakes Off TRO Request

https://advisorhub.com/ubs-broker-charlotte-joins-ameriprise-shakes-off-tro-request/

Richard Bean was a UBS advisor who moved to Ameriprise Financial the week before President’s Day. UBS filed a TRO motion. The TRO was denied by the judge. Another example of non-protocol recruiting plan followed resulting in another TRO victory.

Mr. Bean, a North Carolina advisor with about $77 million in AUM, was recognized by UBS for being in their Top 35 Under 35 in 2015.

Ameriprise spokesperson Kathleen McClung stated, “We are pleased that for the second time, a judge has agreed with our position. As we’ve said before, financial advisors are allowed to switch firms, and movement across the industry is common.”