Kelly Milligan filed a class action complaint in federal court, arguing he lost $500,000 in deferred compensation after leaving the wirehouse several years ago. One attorney estimated more than 1,000 former Merrill advisors have a similar story.
The move will allow CEO and founder Paul Saganey to focus on coaching the firm’s advisors working with higher-net-worth clients.
A recent New York Times article suggested that Blackstone's non-traded REIT is inflating its property valuations. But real estate industry insiders say they are not worried.