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Registered Rep.
October 1, 2005
Christopher O'Leary
It's in the Bank Wirehouse veterans who have switched to bank brokerages say Wall Street's perception of bank brokerages is stuck in the past, and that the best bank brokerages have become much more competitive in terms of production, assets and compensation. mark for My Articles similar articles
The Motley Fool
November 14, 2006
Dan Caplinger
Banker, Broker, or Both? Be careful to figure out which hat your bank's employee is wearing. The key to dealing with bank-based brokers is to know exactly what you're being offered at all times. mark for My Articles similar articles
Registered Rep.
February 1, 2003
David A. Gaffen
An Employer's Market It's a hirer's market out there, but brokerage firms have not stopped recruiting. In fact, although it is quieter than usual, many firms are still willing to pony up big bucks in hopes of attracting top-shelf talent. mark for My Articles similar articles
Registered Rep.
February 1, 2005
Mindy Diamond
Customize Your Career As a result of broker dissatisfaction with the status quo, the increasing clout of top producers (at some firms) and the need for firms to keep successful reps happy, we're beginning to see quite a bit more flexibility. 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.
December 1, 2003
David A. Gaffen
Suddenly, A Monster Wachovia Securities has gradually, then all of a sudden, emerged as a monster brokerage firm. But Wachovia management insists that its Richmond roots aren't the only difference between it and its New York-based rivals. 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, 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
U.S. Banker
November 2009
Steve Garmhausen
Fulton Financial's Recipe for Recovery The bank s sagging brokerage unit reversed its fortunes when it ditched the commissions and switched to a fee-based model. Then it brought in a rainmaker. mark for My Articles similar articles
On Wall Street
January 1, 2010
The Hire Powers Speak Out Headhunters open up about hiring, entrepreneurial mindsets, and wirehouse business models. 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.
October 11, 2010
Susan Konig
Advisor Movement Should Pick Up in 2011, Experts Predict Aggressive and lucrative recruitment packages essentially prompted anyone who wanted a big check to move last year, Diamond says. 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.
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
On Wall Street
January 1, 2009
Frances A. McMorris
The 10th Annual Recruiters Roundtable Packages get lowered. Brokers get hired. Markets have tanked. Retention offers are shrinking. And yet, according to the experts in our 10th Annual Recruiters Roundtable, there are still opportunities in the retail brokerage arena, if you know where to look. mark for My Articles similar articles
Registered Rep.
January 13, 2003
Gaffen & Geracioti
Wachovia-Prudential: For Real This Time? Can you say Pru-chovia? Prudential Securities and Wachovia Securities are very close to an agreement to join forces, one that was scuttled earlier in the year, reportedly due to differences in who would control the unit. mark for My Articles similar articles
U.S. Banker
May 2009
Steve Garmhausen
Major Shift: Wirehouse Veterans Eye Bank Brokerages A two-decade veteran of Dean Witter, Smith Barney, and UBS Financial Services, John Noble now runs the brokerage arm of a modest-size commercial bank. mark for My Articles similar articles
Registered Rep.
December 1, 2004
Mindy Diamond
Packing the Parachute Success in the brokerage industry can be as much about mindset as anything else, so it comes as little surprise that advisors avoid negative thoughts, such as the potential necessity of a quick exit from their practice. mark for My Articles similar articles
Registered Rep.
April 1, 2006
Mindy Diamond
On the Rebound Big firms are sending low-producing brokers messages that they are no longer as wanted as they once were. Brokers who see the handwriting on the wall, may have better options if they jump to another firm before being pushed. mark for My Articles similar articles
Registered Rep.
September 1, 2004
Mindy Diamond
Of Myths and Moving A large number of brokers labor under a group of myths and misconceptions that keep them from managing their careers effectively. mark for My Articles similar articles
Registered Rep.
May 31, 2007
Kevin Burke
Wachovia Buys A.G. Edwards for $6.8 Billion, Creating New Rival to Merrill, Smith Barney The deal puts Wachovia among the top three competitors in retail brokerage -- in terms of both assets and advisors -- and retail banking. mark for My Articles similar articles
Registered Rep.
October 1, 2004
Mindy Diamond
Prospects Grim for Wirehouse Brokers with Hybrid Books of Business Hybrid brokers -- those with both retail and midmarket institutional accounts-- at wirehouses might soon be a thing of the past, but that doesn't mean those with this business model have no options. mark for My Articles similar articles
Registered Rep.
May 1, 2005
Mindy Diamond
What About Your Retirement? Brokers often take a shortsighted view of their careers, and this usually turns an effort to convince them to think about their own retirements into an uphill battle. 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.
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.
October 1, 2005
Matt Barthel
Insurance and the Generation Gap Reps historically have been reluctant to sell life insurance because of the steep learning curve associated with the products, and there is evidence that many still are hesitant to put forth the effort necessary to grasp the products' nuances. mark for My Articles similar articles
Financial Advisor
November 2011
Jeff Schlegel
Back In Gear After a slow period, recruiting is revving up again among broker-dealers. mark for My Articles similar articles
On Wall Street
September 1, 2009
Helen Kearney
On Life Support a Year Ago, Merrill Pays for Top Producers Merrill, under BofA, seems to be on the hunt to add to its ranks, and it's offering a very competitive package that has almost unlimited upside for top producers. mark for My Articles similar articles
Investment Advisor
November 18, 2010
Bob Clark
After the Flood How will independent advisors deal with the rising tide of breakaway brokers? 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.
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
On Wall Street
March 1, 2010
Lauren Barack
Time For Creative Recruiting With top advisors locked into retention packages, it's becoming harder for wirehouses to boost their ranks. 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
U.S. Banker
August 2006
Lee Conrad
Banks Refocus Staff and Mutual Funds Sales Surge Banks are making a fundamental change in the way they sell mutual funds by streamlining the process and unleashing a bigger, less expensive, sales force. mark for My Articles similar articles
Financial Advisor
January 2007
Tracey Longo
Allure Of Independence Remains Bright Independent broker-dealers step up their recruiting efforts among reps and the already liberated. mark for My Articles similar articles
On Wall Street
July 1, 2010
Lauren Barack
Beating Back The Independents So a mere eighteen months after the sky fell, is it really possible that life at the wirehouses isn't so bad? 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
Investment Advisor
December 2005
Melanie Waddell
Breaking Away Brokers are finding it easier than ever to go independent, aided by custodians and other independent advisors. 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.
July 1, 2004
Will Leitch
The Quick and the Dead Bank of America, which inherited Quick as part of its acquisition of FleetBoston in October 2003, announced it is folding the discount brokerage into its Banc of America Securities unit. mark for My Articles similar articles
Financial Advisor
April 2005
Tracey Longo
Winning Over Wirehouse Brokers AIG's transition suites help brokers become independent. mark for My Articles similar articles
Registered Rep.
March 1, 2003
David A. Gaffen
Wach-Pru: Rock Steady, or Not Ready? Wachovia's courtship of Prudential Securities, for months one of the worst kept secrets on the Street, has come to fruition. Is the new organization capable of competing in the elite league it has entered? mark for My Articles similar articles
Registered Rep.
December 11, 2002
Rick Weinberg
PaineWebber Cuts Bonuses, Expense Accounts Brokers at UBS PaineWebber received a double hit of bad news this week in this tough time for brokerages. Not only were they informed that the bonuses they receive for bringing in new assets were being cut, but expense accounts are being trimmed as well. mark for My Articles similar articles
Registered Rep.
November 1, 2002
David A. Gaffen
Requiem for the $250K Broker Until recently, brokers were immune to the industry's downsizing, which has included a decimation of the ranks of investment bankers and the elimination of thousands of support positions. Brokers, it was assumed, covered their own costs by generating commissions and fees. Not anymore. mark for My Articles similar articles
Registered Rep.
February 24, 2003
David A. Gaffen
Wachovia-Pru: What's Next The newly-announced joint venture between Wachovia's retail brokerage and Prudential Securities isn't scheduled to close for another 18 months. But the new company should be able to measure the effectiveness of its broker-retention strategy sooner than that. mark for My Articles similar articles
Financial Advisor
June 2009
Jeff Schlegel
Money In Motion The economic crisis has wreaked havoc on wirehouses, and more advisors are looking for new opportunities. mark for My Articles similar articles
On Wall Street
January 1, 2011
Recruiting's Next Big Challenge A conversation with industry headhunters about the job market for financial advisors. mark for My Articles similar articles
Registered Rep.
April 1, 2005
Mindy Diamond
Should I Stay or Should I Go? The process of deciding to change firms often hinges on concrete comparisons. But other less tangible factors come into play, too. Here are four questions that get to the heart of both types of criteria. Any rep considering changing firms should answer these before taking any major action. mark for My Articles similar articles
Registered Rep.
October 1, 2006
Halah Touryalai
UBS Offers Hot Retention Bonus UBS is doing all it can to hold onto as many of the newly acquired Cleveland-based McDonald Investments advisors as possible -- beginning with a retention package that will be hard to refuse. mark for My Articles similar articles
U.S. Banker
June 2007
Lee Conrad
Banks' Insurance Operations: Are Painful Lessons Paying Off? Banks clamored for years for the right to underwrite and sell insurance, but few have proven adept at it. There are signs of progress, however, as some banks embrace the brokerage side and gain revenue. mark for My Articles similar articles