A new arbitration decision holds a lesson for financial advisors: Be careful when you leap.

A three-member Financial Industry Regulatory Authority panel awarded almost $672,000 to Fidelity Brokerage Services earlier this month after that firm first filed a claim with the independent regulator last October. The conflict came after one of its brokers, Brian Wilder, moved to Morgan Stanley Smith Barney (now known as Morgan Stanley Wealth Management).

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