Truist Investment Services Disclosures
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SEC Order Disclosure
The U.S. Securities and Exchange Commissions Rule 606 requires brokers that route equity and option orders to make available quarterly reports that provide statistical details regarding their routing practices. The report details the market centers that brokers route to and the material aspects of the brokers relationship with those market centers. Please click on the links below to access Truist Investment Services, Inc. routing reports.
Equal Housing Lender
Investment and Insurance Products: Are Not FDIC or any other Government Agency Insured Are Not Bank Guaranteed May Lose Value
Mortgage products and services are offered through Truist Bank. All Truist mortgage professionals are registered on the Nationwide Mortgage Licensing System & Registry , which promotes uniformity and transparency throughout the residential real estate industry. Search the NMLS Registry.
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Merger With Southern National Bank
In 1995, the bank merged with Southern National Bank, another bank with roots in the eastern part of the state. This gave BB& T 437 branches in 220 cities in the Carolinas and Virginia. The merged company became Southern National Corp., but all of its banking subsidiaries took the BB& T name. With $19 billion in assets, BB& T had the most North Carolina deposits and branches of any bank. Southern National head Glenn Orr and new BB& T chairman John Allison said the merger likely created a bank that would be too rich to be taken over by an out-of-state bank. Orr retired once the merger was complete. The headquarters became BB& T Financial Center in Winston-Salem, North Carolina.
In 1997, Southern National Corp. took over United Carolina Bank, another eastern North Carolina-based bank, in a $985 million deal announced in November 1996. UCB had $4.5 billion in assets. 400 employees worked in Whiteville but despite losing the headquarters, the town would eventually have 500 BB& T employees working at a 250-employee and other operations. Starting September 22, 1997, 91 UCB branches began the process of changing to BB& T, and 67 other branches of the two banks closed starting in October because they were close to other BB& T locations.
On May 19, 1997, Southern National Corp. changed its name to BB& T Corp. and its stock symbol SN to BBT.
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Deep Research And Market Intelligence
All of our financial advisors have access to a team of seasoned investment analysts who share actionable insights and timely research.
Our Investment Advisory Group of Truist Advisory Services, Inc.
- Provides sophisticated economic and investment research.
- Develops strategic, tactical and portfolio construction guidance.
- Delivers ongoing monitoring and analysis of economic and market conditions.
- Conducts rigorous due diligence and monitoring of traditional, alternative, and private capital strategies.
History Of Southern National Bank
In 1897 the Bank of Lumberton was started by Angus Mclean in Lumberton, North Carolina, the predecessor of Southern National. The founding board members of the bank were Angus Mclean, Thomas McNeill, R.D. Caswell, C.B. Townsend, S.A. Edmund, R.L. Steele, W.L.F. Steel, T.C. Guthrie, H.B. Jennings. The board was composed of members from Lumberton, Rockingham, North Carolina, and Bennettsville, South Carolina. Thomas McNeill was selected to be the bank’s first president. He resigned a year later when he was appointed as a judge. After McNeill resigned Mclean became president. Mclean did not simply view himself as a banker, he wanted to build companies that had a good return on their investment, created jobs, and benefited the communities they operated within. In 1955 Hector MacLean, Angus Mclean’s son, was named president. The Bank of Lumberton changed names to Southern National Bank in 1959.
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E The Pending Motion For Reconsideration
Undeterred, OwenWilliams, still proceeding pro se, has now filed his Motion for Reconsideration, in which he asks this Court to reconsider its May 24, 2010 decision.
See Pl.’s Mot. for Expedited Recons. to Vacate Arbitration Ruling & Confirm Arbitration Award , ECF No. . BB & T has filed an opposition. See Def.’s Opp’n. OwenWilliams has filed a reply. See Pl.’s Reply to BB & T Opp’n to Pl.’s Mot. for Expedited Recons. to Vacate Arbitration Ruling & Confirm Arbitration Award , ECF No. . The motion is therefore fully briefed and ripe for adjudication.
In this regard, his motion is, in part, a motion for reconsideration of an order disposing of a prior motion for reconsideration.
On June 23, 2011, OwenWilliams filed a document requesting immediate disposition of his motion. See Pl.’s Mot. Requesting Immediate Disposition, ECF No. . The document raises no new arguments or issues pertinent to the motion.
History Of Suntrust Banks
SunTrust Banks is the combination of three companies, two banks, one based in Georgia and one based in Florida, and an investment company. The three companies are Trust Company of Georgia, Sun Bank, and The Robinson-Humphrey Company.
On September 21, 1891 what subsequently became the Trust Company of Georgia was started by John M. Green, Joel Hurt, H. L. Atwater, W. A. Hansell, T. J. Hightower, J. G. Oglesby, J. D. Turner, John B. Daniel, Joseph Hirsch, Leon Lieberman, Louis Wellhouse, A. J. McBride, D. O. Dougherty, W. A. Gregg, W. W. Draper, A. C. Hook, W. T. Ashford, George W. Brooke, C. I. Branan, and C. D. Montgomery. In November 1893, it restructured as a trust company and renamed itself Trust Company of Georgia.
The earliest predecessor of Sun Bank was founded in 1911 as The People’s National Bank in Orlando, Florida. In 1920, it became the First National Bank. In the early 1930s, during the Great Depression, the First National Bank and Trust Company failed. It was reorganized on Valentine’s Day 1934 as the First National Bank at Orlando. In 1973, the bank merged with other Orlando banks to become SunBanks. As of December 31, 1973, it had three bank-related subsidiaries and total assets of $1.713 billion. In 1985 the Trust Company of Georgia and Sun Banks Inc. merge to form SunTrust Banks Inc.
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E Owenwilliams Is Not Entitled To Reconsideration Based On His New Allegations Going To The Merits Of His Claims
OwenWilliams next claims that the grounds upon which position was rescinded were in violation of Federal Civil Rights and neither the Arbitrators nor this honorable Court addressed this issue. Pl.’s Mot. for Recons. at 5. For at least three reasons, the argument does not constitute grounds for reconsideration. First, it plainly was not raised in the Motion to Vacate a party cannot seek reconsideration of an argument that was never made. See Kattan,995 F.2d at 276 Kittner,783 F.Supp.2d at 17273, 2011 WL 1791233, at *2. Second, even assuming the argument could be considered, OwenWilliams points to no competent evidence suggesting that the arbitration panel refused to consider any evidence presented to it during the course of the arbitration proceedings, let alone evidence going to these new allegations. Third, and relatedly, OwenWilliams misunderstands the nature of this Court’s inquiry when presented with a motion to vacate an arbitration award. This Court is not charged with inquiring as to what claims and defenses were and were not raised in the prior proceedings a final, binding award embodies all of the parties’ rights arising out of the transaction involved, and the parties will be foreclosed from later seeking relief on the basis of issues which might have been raised in the prior proceedings.
B Owenwilliams Is Not Entitled To Reconsideration Based On The Court’s Discretionary Decision Not To Hold Oral Argument
OwenWilliams next contends that this Court erred in rendering its decision without granting his request for oral argument on his Motion to Vacate. See Pl.’s Mot. for Recons. at 2. In his estimation, oral argument was necessary because the litany of convoluted facts would have caused even the most esteemed legal minds to confound the details and pertinent facts surrounding Plaintiff’s Motion.Id. at 2. To the contrary, the Court properly exercised its discretion in rendering a decision on OwenWilliams’ Motion to Vacate in the absence of oral argument. Under the Local Rules of this Court, party may in a motion or opposition request an oral hearing, but its allowance shall be within the discretion of the court. LCvR 7. Oral argument is not a substitute for raising all relevant arguments in the course of briefing a given motion. In this case, the parties had a full and fair opportunity to address all the pertinent issues in their written submissions to the Court. Despite OwenWilliams’ personal belief to the contrary, the issues presented were completely straightforward and amenable to resolution on the papers. Under these circumstances, the Court reasonably concluded that holding oral argument would be of no meaningful assistance in rendering a final decision.
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C The Arbitration Proceedings
Following the Court’s decision, the parties proceeded to arbitration. On December 20, 2007, OwenWilliams filed a Statement of Claim, the analog to a complaint in federal practice, with the Financial Industry Regulatory Authority, raising the same allegations asserted in his initial lawsuit. See OwenWilliams,717 F.Supp.2d at 5. A three-person panel was appointed, and an initial pre-hearing telephonic conference was held on April 30, 2008. See id. The arbitration hearing ultimately took place over two days in July and one day in September of 2009. See id. at 68. OwenWilliams was represented by counsel throughout the proceedings. See id. at 56. The arbitration panel issued its final award on September 22, 2008, awarding judgment in BB & T’s favor. Id. at 8. Specifically, the panel concluded as follows:
After considering the pleadings, the testimony and evidence presented at the hearing, the Panel has decided in full and final resolution of the issues submitted for determination as follows:
Respondent is not liable and Claimant’s claims are denied, with prejudice.
Any and all claims for relief not specifically addressed herein, including Claimant’s request for punitive damages and the parties’ requests for attorneys’ fees are denied. Id. This constitutes the only written explanation of the basis for the panel’s decision. Id.
Innovative Investment Strategies Sound Solutions
Theres an art to aligning the right investments to your goals. As a Truist Wealth client, youll have access to a wide range of investment solutions from the simple to the complex and advisory options depending on your situation.
Benefits
- Asset allocation aligned with your risk tolerance
- Access to domestic and global stocks, bonds, mutual funds, ETFs, and annuities
- Investment strategy for fixed-income portfolios
- Fully managed accounts
- Access to alternative or specialized investments, such as private equity and hedge funds
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No Smart Phone No Problem
If you can text, you can bank.
Check balances, see your recent account activity, and even transfer moneyall by text.
- BB& T clients: Are auto enrolled into text banking once a primary mobile phone number is added into the online banking profile.
- SunTrust clients: Enroll under the Alerts feature in online banking.
G Owenwilliams Is Not Entitled To Reconsideration Based On His Allegations Of Attorney Misconduct
OwenWilliams further contends that BB & T’s counsel engaged in misconduct by deliberately deliver an inordinate document flood pile of commingled documents while submitting to the Court a neatly compiled folder of documents that were clearly marked and properly labeled, totaling approximately 500 pages. Pl.’s Mot. for Recons. at 8. This is not a new contention it has already been considered, and rejected, by this Court. See OwenWilliams,717 F.Supp.2d at 5 n. 5.
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A The Commencement Of The Action
This lawsuit has its origins in BB & T’s decision to rescind its offer of employment to OwenWilliams. In early 2006, OwenWilliams interviewed for and was ultimately offered a position with BB & T. Id. at 3. Thereafter, a BB & T recruiter sent OwenWilliams a letter regarding the job offer , accompanied by a Protective Covenants Agreement .
Id. The Employment Contract stated, in relevant part, that ll employment offers are contingent upon standard background checks, and informed OwenWilliams that his employment with BB & T would begin on April 10, 2006. Id. at 4. Significantly, the Covenants Agreement, which OwenWilliams signed, included a mandatory arbitration clause. Id.
The Employment Contract and the Covenants Agreement are attached as Exhibit 4 to the Notice of Removal, ECF No. .
Shortly thereafter, BB & T decided to rescind its employment offer to OwenWilliams based on information uncovered in the course of running a background check. Id. The BB & T recruiter communicated BB & T’s decision to OwenWilliams prior to the date he was scheduled to begin his employment. Id. After unsuccessfully pursuing the matter further with the BB & T recruiter, OwenWilliams retained counsel
Despite being represented by counsel throughout the arbitration process, OwenWilliams filed the pending motion and his earlier motion to vacate the arbitration ruling and for reconsideration pro se.
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1 Rebalancing and asset allocation do not ensure a profit or guarantee against loss.
Equal Housing Lender
Investment and Insurance Products: Are Not FDIC or any other Government Agency Insured Are Not Bank Guaranteed May Lose Value
Mortgage products and services are offered through Truist Bank. All Truist mortgage professionals are registered on the Nationwide Mortgage Licensing System & Registry , which promotes uniformity and transparency throughout the residential real estate industry. Search the NMLS Registry.
“Truist Advisors” may be officers and/or associated persons of the following affiliates of Truist, Truist Investment Services, Inc., and/or Truist Advisory Services, Inc. Truist Wealth, International Wealth, Center for Family Legacy, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups are trade names used by Truist Bank, Truist Investment Services, Inc., and Truist Advisory Services, Inc.
- Multilingual teammates available at our Multicultural Banking Centers
- Materials for some products and services are available in Spanish, Korean, Vietnamese, Mandarin, and other languages spoken in the communities we serve.
- Phone assistance in Spanish at 844-4TRUIST , option 9. For assistance in other languages please speak to a representative directly.
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Truist Wealth Client Types And Minimum Account Sizes
Truist Wealth’s advisory business is squarely centered around individuals both above and below the high-net-worth threshold. In fact, the firm works with more than 123,000 individuals, the majority of whom don’t have a high net worth. Other common clients of Truist include charitable organizations, retirement plans, businesses and other entities.
The minimum investment requirements at Truist Wealth typically vary by service. Here’s a breakdown:
- Financial planning: no stated minimum
- Investment consulting: no stated minimum
- AMC Advantage Program: $100,000
- AMC Fund Select Tactical: $50,000
- AMC Fund Select Tactical : $10,000
- AMC Pinnacle: $50,000
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- Portfolio management for individuals and/or small businesses
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Truist Wealth Investing Philosophy
Before helping clients with their investments, or even their financial plans, advisors at Truist Wealth will work with them to determine exactly what their financial goals and situation look like. This involves doing a deep dive into the client’s risk tolerance, long- and short-term goals, time horizon, income needs and any other pertinent characteristics. By the conclusion of these discussions, your advisor will build a personalized investment policy statement, or IPS, for you, which will essentially detail how your portfolio will be managed.
When it comes to specific investment strategies, Truist will use some combination of short-term purchases , long-term purchases , trading , margin transactions and option writing. There are many different investments that the firm is open to using in client portfolios. These include common and preferred stocks, mutual funds, exchange-traded funds , options, warrants, fixed-income securities, notes and bills.
