Wunderlich Reversal: Won’t Hire ‘Discharged’ LPL Broker

Wunderlich Securities has reversed course on its plans to hire James “Jeb” Bashaw — a former top LPL advisor whose eponymous Houston firm had $3.8 billion in assets under management in 2011. Tom Ajamie analyzes Wunderlich’s decision amid growing public scrutiny of LPL’s decision to terminate its relationship with Bashaw for allegedly engaging in selling private placement deals.