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Registered Rep.
December 1, 2002
David A. Gaffen
Light A Candle, or Curse the Darkness For brokers and financial advisors, 2002 may be remembered as the year in which those who knew they had the right stuff redoubled their efforts to elevate their skills and become the kind of advisors who could survive the bear market and build a 21st century practice. mark for My Articles similar articles
On Wall Street
September 1, 2011
Lorie Konish
Morgan Stanley Smith Barney's $1 Trillion Target Morgan Stanley Smith Barney focuses on growing its Consulting Group division, where it aims to double the assets in the managed account group to more than $1 trillion within the next five years. mark for My Articles similar articles
Registered Rep.
January 1, 2006
John Churchill
More, More, More Faced with growing competition from other advice providers and fewer inherent advantages in the way of products and platform capabilities, wirehouse brokers will feel pressure to do more fee-based business and to make wealthier clients a bigger part of their practice. mark for My Articles similar articles
Registered Rep.
February 1, 2005
By the Numbers Top 10 Broker/Dealers, by Advisor Headcount: Merrill Lynch... Wachovia... Smith Barney... Morgan Stanley... etc. mark for My Articles similar articles
Registered Rep.
February 1, 2006
Kevin Burke
Hired and Fired Up The biggest brokerage businesses are showing that even in a modest market upswing they now have in place a strategy for delivering stronger and steadier sales and earnings growth. mark for My Articles similar articles
Registered Rep.
November 1, 2005
John Churchill
The Money Squeeze There's one thing that stands between the big retail brokerage firms and the high profit margins that the executives of these firms and their investors seek: the financial advisor. mark for My Articles similar articles
Registered Rep.
May 30, 2003
David A. Gaffen
The New Smith Barney CEO Sallie Krawcheck was recruited to restore the credibility of Smith Barney and lead the business through its toughest slump in a generation. Krawcheck wants Smith Barney advisors to more than double their average annual production to $1 million. mark for My Articles similar articles
Registered Rep.
December 12, 2006
Halah Touryalai
Smith Barney Pay Package: Perks Balance Cuts? This week, Smith Barney will become the first firm to make a change to its payout grid as a result of the securities industry's recent battle over broker overtime pay and so-called chargebacks. mark for My Articles similar articles
Registered Rep.
June 1, 2005
John Churchill
Wall Street's Big Curtain Call How baby boomer brokers move into retirement over the next 10 to 15 years will change the face of the industry in many ways. mark for My Articles similar articles
Registered Rep.
April 1, 2008
John Churchill
Good Times, Bad Times Shares of the major broker/dealers are getting hammered. The good news is, for those of you who have always wanted to move on, but couldn't because it made you sick to leave unvested options on the table, this may be your moment. mark for My Articles similar articles
Registered Rep.
July 1, 2005
Kristen French
Apres Purcell--Le Spinoff? Now that Morgan Stanley's CEO has given up, the future of the old Dean Witter organization is in question. Morgan Stanley remains under pressure to improve profitability and its stock price. mark for My Articles similar articles
Registered Rep.
March 1, 2007
John Churchill
Sallie's Back At first glance, this second coming of Sallie Krawcheck probably looks like a cakewalk compared to her first adventure in 2002. But, make no mistake: Smith Barney is not the awesome brokerage it appears to be on paper. mark for My Articles similar articles
Registered Rep.
September 1, 2003
David A. Gaffen
Giants Among us Debbie Jorgensen's book is pushing a half billion dollars, but the true measure of her success is this: She now gets to tell her company's bosses what to do. Jorgensen, with nearly two decades of experience at Merrill Lynch, has recently been appointed head of the firm's advisory committee to management. mark for My Articles similar articles
Registered Rep.
January 1, 2003
Gaffen & Geracioti
The Future of the Industry The broker has to be a person who can handle every aspect of a client's financial life. The broker must evolve into a kind of chief financial officer for the client -- managing everything from investments to insurance to estate planning to mortgage banking. mark for My Articles similar articles
Registered Rep.
April 1, 2003
David A. Gaffen
Your Book or Your Life! What would you do if you lost your book? Where would you turn for new customers? Where could you be hired? Those are questions that keep many advisors up at night. mark for My Articles similar articles
Registered Rep.
December 1, 2004
David A. Gaffen
Meet the New Boss, Different From the Old Boss November's news that Bob Mulholland was leaving Merrill Lynch wasn't entirely a surprise. He had been co-head of the 14,000-strong retail brokerage unit, but Merrill insiders figured all along that only one boss would prevail. mark for My Articles similar articles
Registered Rep.
November 1, 2005
Kevin Burke
Reshuffling the Decks There is an unusual amount of reorganization afoot, with Merrill, Wachovia, UBS, Morgan Stanley and Smith Barney all shaking up their retail brokerage operations. Some of the moves have direct implications for retail advisors. mark for My Articles similar articles
Registered Rep.
July 1, 2006
Kristen French
James Gorman's First Marking Period In his first four months as head of Morgan Stanley's brokerage unit, James Gorman wasted no time showing that a new regime was in place. But he hasn't convinced all the troops that it's worth sticking around to see how his turnaround plans play out. mark for My Articles similar articles
Registered Rep.
December 1, 2002
Ross Tucker
Happy Holidays! You're Fired. The ax will fall at year's end for some 700 of 13,500 Morgan Stanley brokers. Some branches will be closed entirely. mark for My Articles similar articles
Registered Rep.
February 23, 2007
Kevin Burke
Disgruntled Smith Barney Brokers Are Voting with Their Feet Sixty-nine brokers left Smith Barney, just ahead of a three-day weekend. Fridays before a long weekend are historically prime times for unhappy brokers to make a clean break, but the large number of brokers taking off on a single day is alarming. mark for My Articles similar articles
Registered Rep.
November 18, 2005
Kristen French
Smith Barney Cuts Pay for Smaller Brokers The new pay scale was announced to brokers internally in October and will take effect in January. mark for My Articles similar articles
Registered Rep.
May 1, 2007
The Great Reckoning Whatever the specific business impact the Merrill Lynch ruling may have, many see the return to pre-1999 rules as a chance for the brokerage industry, which has long avoided fiduciary duty for business and regulatory reasons, to overcome those obstacles and embrace it. mark for My Articles similar articles
Registered Rep.
November 6, 2008
Christina Mucciolo
Bank Run It might be time to reconsider the stereotype of the bank broker. mark for My Articles similar articles
Registered Rep.
December 1, 2005
Halah Touryalai
Smith Barney: New Focus On the Horizon While most Smith Barney advisor respondents were generally unimpressed by the acquisition of Legg advisors, it'll be interesting to see if Smith Barney's jettisoning of its asset management group -- and resulting new focus on retail distribution -- will rejuvenate the firm. mark for My Articles similar articles
Registered Rep.
December 13, 2010
Susan Konig
IBD and RIA Opportunities Arise For Branch Managers As the independent broker/dealer and RIA channels grow, they are creating a viable market for those displaced managers. mark for My Articles similar articles
Registered Rep.
February 1, 2005
Pam Black
Why More Reps Are Getting Their Kicks on Route 66 What's driving top reps to Series 66 RIA designation is not regulatory rules. It's changes in the wirehouse environment that, newly minted RIAs say, made it harder for them to do their own thing. mark for My Articles similar articles
Registered Rep.
February 21, 2007
John Churchill
Smith Barney Comp Pleasant Surprise Judging from initial reports from reps, the written version of the new plan is an improvement from the prior version -- a plan many reps equated to a pay cut despite the firm's insistence that it was "revenue neutral." mark for My Articles similar articles
Registered Rep.
May 1, 2004
John Churchill
Whom Do You (Trust) The mutual find fiasco and impropriety have thrown the money industry into ill repute. This year's Outstading Broker Awards are a refreshing reminder that there are still exceptional reps working in the industry. Michael Hull... Mary Ellen Garrett... etc. mark for My Articles similar articles
Registered Rep.
January 1, 2007
Kristen French
More or Less? Smith Barney overhauled its pay package -- just in time for the new year. Some of the changes it made were pretty radical -- especially for an industry in which any pay change, no matter how minor, is often a source of uproar. mark for My Articles similar articles
Registered Rep.
June 5, 2012
Diana Britton
A Regional Resurgence After years of being considered acquisition targets, regional broker/dealers may be making a comeback. mark for My Articles similar articles
Registered Rep.
January 14, 2011
Kristen French
Some MSSB Advisors Upset by Johnston's Departure Morgan Stanley CEO James Gorman announced Thursday that Greg Fleming, head of the firm's asset management business, will replace Charles Johnston as head of wealth management. mark for My Articles similar articles
Registered Rep.
November 1, 2006
John Churchill
A.G.E. to Catch a Rep Instead of buying brokers like its peers with offers of big upfront forgivable loans, A.G. Edwards is offering its own reps bonuses for successfully recruiting good reps. mark for My Articles similar articles
Registered Rep.
May 1, 2004
David A. Gaffen
Mother Merrill's Extreme Makeover A 12-year veteran of Merrill Lynch has noticed a pronounced improvement over the years in the way clients perceive him and his colleagues. mark for My Articles similar articles
Registered Rep.
December 1, 2011
Kristen French
Broker Report Card 2011: It's Getting Better All the Time Registered Rep.'s 21st annual Broker Report Cards showed advisor satisfaction ratings creeping higher this year across the board -- on everything from compensation and benefits, compliance support and sales support to products. mark for My Articles similar articles
Registered Rep.
February 16, 2010
Mindy Diamond
Recruiting Bonuses Are Still Strong TD Ameritrade, Schwab, Fidelity and Pershing are all reporting that their pipelines of interested advisors is more robust than ever in their collective histories. mark for My Articles similar articles
Registered Rep.
August 1, 2004
Comings & Goings Sam Vetas, one of Morgan Stanley's top producers has moved... Joe Biondo Sr. recently went independent from Smith Barney... Former Registered Rep. columnist Harry Pappas has switched firms... etc. mark for My Articles similar articles
Registered Rep.
August 10, 2004
David A. Gaffen
Fleeing Brokers Can Take Some Client Info Three of the nation's largest brokerage firms have agreed to make it easier for registered reps to take clients with them when they change firms, eliminating a lot of the cloak-and-dagger antics that brokers often suffer when making a move. mark for My Articles similar articles
Registered Rep.
May 1, 2006
John Churchill
UBS Bellies Up to the Acquisition Table With the cost of recruiting and training soaring, firms continue to turn to acquisitions. The recent purchase by UBS of Piper Jaffray's brokerage unit won't be the last as competition for clients and their assets continues to intensify. mark for My Articles similar articles
Registered Rep.
September 10, 2003
David A. Gaffen
Existing Clients Want More Advice The good news for reps is that the world doesn't hate you. The bad news is that acquiring clients -- particularly affluent ones -- is getting a lot more tough. mark for My Articles similar articles
Registered Rep.
February 2, 2006
Kristen French
Brokers Learning to Play by New Rules It's no longer business as usual on Wall Street. Starting yesterday, broker/dealers must follow a new SEC rule that requires them to disclose at certain times that they may not be acting in their clients' best interest. mark for My Articles similar articles
Investment Advisor
January 2006
Kathleen M. McBride
Balancing Act The broker/dealer model is changing, spurred by business and regulatory pressures, and reps may stop talking to their clients. mark for My Articles similar articles
Registered Rep.
July 1, 2006
Legends Historically, many reps aspired to management -- some to move up the ladder and climb into the executive suite. Here are four short profiles of some veteran professionals who have successfully helped their associates with their careers. mark for My Articles similar articles
Registered Rep.
October 1, 2004
Will Leitch
The Rep's Ugly Friend As the industry continues its inexorable march toward "wealth management," advisors have had to add new tools to their workbenches. Among all of them, reps seem to have the most trouble getting comfortable with life insurance. mark for My Articles similar articles
Registered Rep.
February 21, 2006
Kristen French
At Morgan Stanley, the Gorman Era Dawns At Merrill, James Gorman was able to take a top team and make it more effective -- at Morgan Stanley, he inherits a demoralized, decimated sales force that trails its peers in assets under management, productivity and profit margins. mark for My Articles similar articles
Registered Rep.
January 6, 2010
Halah Touryalai
Wirehouse FAs Switching B/Ds Slows The number of wirehouse advisors switching broker/dealers has been in steep decline since June. mark for My Articles similar articles
Financial Advisor
December 2007
Sydney LeBlanc
More Options, More Business Independent advisors recently got the opportunity of a lifetime -- the marriage made between fee-based advisory accounts and fiduciary accountability finally made headlines in the SEC repeal of Rule 202. mark for My Articles similar articles
Registered Rep.
June 1, 2009
David Geracioti
Can You Say, "Morgan Stanley Smith Barney?" The Joint Venture Launches Today The deal merging Citi's brokerage (Smith Barney) with Morgan Stanley's Global Wealth Management Group is closed -- ahead of schedule. mark for My Articles similar articles
Registered Rep.
June 1, 2006
Kristen French
The Wealth Management Quest Are you really a wealth manager? Do you know what the phrase really means? It pays to know, because a new compensation report shows only 8% of advisors -- across all business channels -- actually fit the bill. mark for My Articles similar articles
Registered Rep.
April 29, 2005
Kristen French
Raymond James Fined, Drops Fee-Based Brokerage---Will Others Follow? Following the NASD fine of Raymond James for pushing fee-based accounts on the wrong clients, the next question is how the settlement will affect other firms that offer the same accounts, including wirehouse giants Morgan Stanley, Merrill and Smith Barney. mark for My Articles similar articles
Registered Rep.
August 1, 2005
John Churchill
Firms to Recruits: Are You Experienced? Across the industry, companies are upgrading training programs to better prepare reps for the growing demands of the job. mark for My Articles similar articles