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Registered Rep.
September 1, 2004
David A. Gaffen
Parting is Such Sweet Sorrow You won't have to steal client addresses and phone numbers any more when switching firms --- that is, if you work for Merrill Lynch, Smith Barney or UBS Securities. 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.
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.
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.
July 28, 2005
Kristen French
Morgan Confirms Trainee, Broker Cutbacks In an internal memo, co-president Zoe Cruz announced the company would reduce the number of trainees it hires to 1,000 in 2006, from 2,400 this year, while continuing to recruit experienced brokers who focus on high-net-worth clients. mark for My Articles similar articles
Registered Rep.
June 1, 2005
Kristen French
Star Wars Recruiting competition between the top brokerage firms is fiercer than ever, and Morgan Stanley is currently wielding one of the most powerful deals on Wall Street. 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.
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 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.
February 6, 2003
Ross Tucker
UBS Continues to Attract Talent UBS PaineWebber recently lured six more high-producing reps into its fold, offering further evidence that the firm is engaged in one of the Street's most vigorous recruiting campaigns. 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.
September 13, 2006
Halah Touryalai
Morgan Joins Inter-Brokerage TRO Pact This firm has officially opted to join the inter-brokerage pact, which stipulates that members will not sue brokers departing to other firms when they try to take their clients with them -- as long as they are moving to another firm named in the pact. mark for My Articles similar articles
Registered Rep.
September 1, 2004
Will Leitch
For Advisors, 2003 Was a Better Year The fortunes of advisors took a turn for the better in 2003, according to the annual report from the Securities Industry Association. mark for My Articles similar articles
Registered Rep.
October 1, 2006
Halah Touryalai
Morgan Joins TRO Pact Morgan Stanley has officially opted to join the inter-brokerage pact, first created in the fall of 2004, which stipulates that members will not sue brokers departing to other firms when they try to take their clients with them. 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.
January 1, 2005
John Churchill
Money for Maturity A shaky market environment in 2004 didn't stop the largest brokerage firms from fighting tooth-and-nail for the best reps, and, heading into 2005, similar rules apply. mark for My Articles similar articles
Registered Rep.
November 22, 2005
John Churchill
For Merrill and Smith Barney Acquisitions, It's Wait n' See The financial firms' respective purchases would have added hundreds of regional brokers to their retail brokerage units, but many of these departing brokers have decided they don't want to work for a big firm and are finding sweet recruiting deals at smaller shops. mark for My Articles similar articles
Registered Rep.
April 1, 2007
Broker Protocol for All? A judge's decision may make it a lot easier for brokers to leave protocol firms at a time when recruiting wars and transition packages are at their peak. mark for My Articles similar articles
Registered Rep.
July 26, 2005
Kristen French
Morgan Trainee Program Could Get Whacked John Mack is moving quickly to get Morgan Stanley's ailing retail brokerage in shape. mark for My Articles similar articles
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
Registered Rep.
October 1, 2002
Rick Weinberg
Brokers Fear Arbitration... With arbitration cases on the rise, many brokers are worried about the prospect of being dragged through a legal process that, because of the current environment, some believe is heavily slanted toward the client. mark for My Articles similar articles
Registered Rep.
October 20, 2005
John Churchill
Merrill Call Center Under Microscope The financial firm's brokerage call centers, its service centers for less complicated and less profitable accounts, are under investigation by the NASD for past improprieties. 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, 2003
David A. Gaffen
Is Wall Street Abandoning Main Street? Are the major brokerage firms losing interest in the everyday investor who has been the very foundation of many of its successes? 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.
October 1, 2002
Warm Bodies Brokerages ranked by number of reps. 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, 2006
Kevin Burke
Failure to Launch Last year, Merrill Lynch's deal to buy Advest was regarded as a savvy transaction. Eight months later, with about 100 reps left, the deal math looks considerably worse. But Merrill may soon have an opportunity to see if it can do better. 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.
February 8, 2004
Will Leitch
IT Spending Expected To Rise in 2004 A new study asserts that Wall St. firms are ready to address one of reps' most common complaints in recent years: the lack of resources devoted to internal infrastructure, especially technology. mark for My Articles similar articles
Registered Rep.
March 1, 2005
John Churchill
Earnings Forecast: Clouds Give Way to Sun The past year's earnings troubles belie the brokerage industry's sunny prospects for 2005. For advisors, the industry's recent troubles have translated into fewer jobs, but many firms are recruiting aggressively again. 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.
March 18, 2005
Will Leitch
Wachovia: On the Recruiting Warpath Wachovia Securities, the third-largest brokerage in the country, has announced an "aggressive" new strategy: the creation of the Individual Investor Group, entirely devoted to the recruitment and retention of individual brokers. mark for My Articles similar articles
Registered Rep.
November 1, 2005
John Churchill
Merrill Carrot to Advest Reps Merrill Lynch has proffered retention packages to newly acquired Advest Group's financial advisors, and according to industry observers, the packages are having their desired effect. 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.
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.
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.
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
Investment Advisor
January 2010
James J. Green
BAIS Moves Reps to Merrill Banc of America Investment Services (BAIS), Inc., transitioned its registered representatives to Merrill Lynch, and then requested that FINRA withdraw BAIS's broker/dealer registration. 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.
March 3, 2006
Halah Tourylai
Third Wirehouse Coughs Up Millions In Overtime Cases Yesterday, Morgan Stanley became the third wirehouse, after Merrill Lynch and UBS, to settle class action suits with California brokers over overtime pay in the past seven months -- the second in three weeks. 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
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.
February 1, 2006
Kristen French
Both Sides Now Brokers who hold dual licenses -- both the Series 7 and Series 65 licenses -- will have to take fiduciary responsibility on some accounts. But they can also sell investments, after they make it crystal clear that they're doing so. mark for My Articles similar articles
Registered Rep.
December 1, 2005
Registered Rep.'s Broker Report Cards How seven of the nation's largest brokerage firms stack up against each other. 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.
December 1, 2002
David A. Gaffen
Manning the Phones When wirehouses and other major brokerages introduced the notion of call centers a couple of years ago, brokers were suspicious. Although they understood the logic behind the move, it was a difficult adjustment. But call centers are here to stay and brokers are learning to live with them. mark for My Articles similar articles
Registered Rep.
August 25, 2006
Kevin Burke
Merrill Fighting Back Against Recent Defections The recruiting war for top brokers remains fierce. The latest evidence of the fight to win million-dollar producers involves the industry's biggest firms. mark for My Articles similar articles
Registered Rep.
August 1, 2005
John Churchill
Should I Stay or Should I Go? When Smith Barney and Legg Mason announced a deal to swap the wirehouse's asset-management business for Legg's brokerage unit, a lot of Legg reps made calls to recruiters and began to prepare for a move. But now, a lot of reps have stopped packing. mark for My Articles similar articles