By Barron's Advisor Staff
JPMorgan Chase's J.P. Morgan Securities has been ordered to pay $4.25 million to a broker who claimed he was wrongfully terminated and defamed by the firm, which he accused of then poaching his clients. Brent Bodner, now with Wells Fargo, said he hosted a party for clients and prospects, but J.P. Morgan argued that the get-together violated its policy regarding business-hospitality expenses. J.P. Morgan says it will challenge the award.
Among other most-read wealth management articles this week:
Robinhood goes in for AI agents . For DIY investors, Robinhood Markets can now be their "BYOAI" brokerage: bring your own AI. The company says it plans to enable customers to connect their own artificial-intelligence agents to Robinhood to conduct trades. Robinhood is also introducing a new "Agentic Credit Card," which it says will allow customers to connect their own AI agent to a dedicated virtual Robinhood credit card that they can use like a normal credit card.
78-year-old former broker admits guilt . A former broker has pleaded guilty to wire fraud and money laundering in connection with a long-running, $9.5 million Ponzi scheme. Edwin Emmett Lickiss Jr., 78, of Danville, Calif., entered his plea in federal court in California. He is likely facing at least six years in prison for the bogus scheme that involved issuing phony promissory notes to clients.
Higher yields, better bonds . As bond yields have drifted higher over the past several weeks, investors should consider putting cash on the sidelines to work in fixed income, portfolio manager Michael Sheldon argues. A two-year Treasury note now yields 4.04%, and the benchmark 10-year Treasury yields 4.48%. Owning a portfolio of individual bonds has some advantages over mutual funds, but proper diversification is key, he argues.
Finra to probe structured notes . Firms whose brokers advise their clients on certain types of structured notes should be prepared to answer questions about how and why they recommend these complex securities. Finra, the brokerage industry's self-regulatory organization, is conducting a series of exams exploring how firms are handling structured notes where an investor's principal is at risk, products that regulators say have caused substantial client losses.
College grads still choose finance . Many college graduates aren't feeling that great about their job prospects. Only 56% of American graduates are confident in securing a professional role in their field of study, significantly lower than the 75% global average, a new CFA Institute study finds. Those inclined toward a career in finance, however, are more optimistic, continuing to give financial services high marks for stability and attractiveness.
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May 29, 2026 14:05 ET (18:05 GMT)
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