Trusted Financial’s principal, Gary Miller was employed by the brokerage industry for 17 years. He voted with his feet, leaving a major Wall Street firm at the end of 2000, in part because he felt it was difficult to work in the best interest of his clients in that environment. The following article appears to indicate that things have not changed much.
"He Was a JPMorgan Chase Whistle-Blower. Then Came the Blowback."
The New York Times | By JAMES B. STEWART, DEC. 10, 2015
“Whistle-blowers often face the difficult choice between telling the truth and the risk of committing career suicide,” said a Senate report on the Dodd-Frank Wall Street reform act, which bars retaliation against whistle-blowers.
At JPMorgan Chase, as at nearly all major companies, the law is enshrined in the bank’s code of conduct: “We strictly prohibit intimidation or retaliation against anyone who makes a good faith report about a known or suspected violation of the code or any JPMorgan Chase policy or procedure, or any law or regulation.”
Then there’s the case of Johnny Burris.
Mr. Burris, 44, worked as a broker at JPMorgan’s Sun City West, Ariz., branch office beginning in 2010, where he was a top producing broker and earned glowing performance reviews, at least in his first few years. Most of his clients were retirees who were unsophisticated about the financial markets.