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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.  |
Registered Rep. April 18, 2007 Halah Touryalai |
Chuck Prince: Smith Barney Goin' Nowhere Citigroup's CEO has been at the center of company news recently with his plans to cut costs including last week's announcement of about 17,000 job cuts. That cut may affect over 100 Smith Barney employees and about 30 advisors.  |
Registered Rep. April 17, 2009 Halah Touryalai |
Smith Barney Losing Advisors, Client Assets But while Smith Barney is losing reps, it also appears to be recruiting heavily.  |
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.  |
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.  |
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.  |
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.  |
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.  |
Registered Rep. June 27, 2005 Kristen French |
Citi/Legg Deal Strikes Blow at the Heart of Financial Supermarket Concept The recently announced asset swap between Citigroup and Legg Mason could be a sign that the financial supermarket of yore is on its way out, to wit: the separation of asset management and distribution.  |
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.  |
Registered Rep. December 1, 2004 David A. Gaffen |
Sallie Krawcheck Has Left the Building In a move that presages future Citigroup plans, Smith Barney CEO Sallie Krawcheck and Citigroup's CFO Todd Thomson have switched offices.  |
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."  |
Registered Rep. May 29, 2007 Kevin Burke |
Smith Barney's Krawcheck to Smooth Out Comp. Plan The brokerage giant's top executive is set to tweak the firm's compensation plan in an attempt to address financial advisors' repeated complaints over pay complexities and claims of unfairness.  |
Registered Rep. December 16, 2004 David A. Gaffen |
Smith Barney's Matthews Retires; Johnston Steps In Tom Matthews, president of Smith Barney's global private client group, is retiring and Charles Johnston, currently director of the retail branch system at the firm, will replace him.  |
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.  |
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.  |
Registered Rep. January 9, 2008 Halah Touryalai |
Smith Barney Snags Three Advisors From Rivals Smith Barney has started off the new year right with a recruiting victory. The firm recently hired three Merrill Lynch reps and one UBS advisor.  |
Registered Rep. August 12, 2003 David A. Gaffen |
Building a Better Separate-Account Mousetrap Separately managed accounts can be confusing, but the paperwork and operations behind them need not be -- or at least that's the thrust of a new effort by Smith Barney Consulting Group.  |
Registered Rep. January 1, 2006 Kristen French |
What's in a Name? Financial advisor is the name most of the other wirehouses use for their registered reps these days. It reflects the industry's attempts to transform its reps from commission-based stock jockeys to fee-based relationship managers.  |
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.  |
Registered Rep. December 1, 2005 Kevin Burke |
A.G. Edwards: Quietly, the Leader of the Pack Building on its strong performance from a year ago, A.G. Edwards lit up the scoreboard this year. Advisors say the St. Louis-based firm has a high-quality work environment, commitment to clients and freedom from pushing certain products.  |
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.  |
Registered Rep. March 3, 2008 Christina Mucciolo |
Krawcheck Says Advisors Not Forced Into Wealth Silos: UPDATE Citigroup's reorganization of its private bank and Global Wealth Management division, announced Tuesday, will absolutely not force advisors into silos based on client wealth.  |
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.  |
Registered Rep. October 18, 2007 Halah Touryalai |
At Citi, Profits Are Down; Smith Barney Wins Five Morgan FAs With Nearly $600m AUM; ML Loses Two Citigroups' third-quarter profits are down 57%... over at its Smith Barney unit, Charlie Johnston's team had a pretty good recruiting week... etc.  |
Registered Rep. April 29, 2008 |
Citi Hedge Fund Blow Up Hurts Clients--And Sends Advisors Packing While Smith Barney tries its darnedest to hold on to the money of its wealthy clients, it's also having a hard time keeping some of its best brokers.  |
Registered Rep. May 7, 2007 Christina Mucciolo |
Smith Barney Closes a Few Offices, Prepares to Consolidate Others The firm prepares to consolidate as part of a larger cost-cutting program in the works at parent Citigroup.  |
Registered Rep. December 1, 2005 Kristen French |
Morgan Stanley: Tomorrow Is Another Day In this survey, the management upheaval and culling of broker ranks shows in the grades Morgan brokers give their firm.  |
Registered Rep. December 1, 2005 Kevin Burke |
Edward Jones: Whistle While You Work According to survey results, financial advisors working at this financial firm seem to be living a charmed life. Here's why.  |
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.  |
Registered Rep. April 7, 2006 Kevin Burke |
Bye, Bye Smith Barney Funds; Welcome Legg Mason Legg Mason announced today the renaming of a bulk of the Smith Barney funds as the Legg Mason Partners Funds in the wake of last year's blockbuster deal.  |
Registered Rep. December 1, 2005 John Churchill |
UBS: You Against Us? According to rank-and-file reps surveyed, UBS brass did a lot of things right this year and can take a bow -- and then quickly straighten up and fix the rest of what reps say is still ailing the firm.  |
Registered Rep. September 13, 2007 Halah Touryalai |
Overtime Finally Pays Off Smith Barney brokers may be the first to cash in on overtime lawsuits that have been all the rage over the last two years.  |
Registered Rep. March 7, 2011 Jerry Gleeson |
Morgan Stanley May Drop "Smith Barney" From Name Will the Smith Barney name go the way of A.G. Edwards, Bear Stearns, and other brokerages whose historic identities were sublimated following acquisitions by larger firms?  |
Registered Rep. April 1, 2008 David Geracioti |
Sallie Krawcheck A conversation with Sally Krawcheck, CEO of Citigroup's Smith Barney unit, about the company's recent reorganization.  |
Registered Rep. December 4, 2002 Rick Weinberg |
Weill Postpones Elimination of Salomon Name Sandy Weill, the chairman of Salomon Smith Barney's parent Citigroup, has informed brokers and other employees that plans to eliminate the Salomon name, a Wall Street hallmark for nearly a century, have been postponed, according to sources.  |
Registered Rep. December 23, 2003 David A. Gaffen |
Smith Barney's Unified Managed Accounts Raises $500 million Though still in its infancy, Smith Barney's unified managed account has gathered more than $500 million in assets in just two-and-a-half months. The UMA has been heralded as the next stage in the managed account arms race.  |
Registered Rep. October 1, 2006 John Churchill |
Crackberry Addicts Fight Back Run afoul of the law while tapping or yapping into your Blackberry and you may have a case-against your employer.  |
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.  |
The Motley Fool March 21, 2007 S.J. Caplan |
Legg's Anatomy Lesson Legg Mason's new branding effort seeks to distinguish its various appendages.  |
Registered Rep. December 1, 2005 Kristen French |
Merrill Lynch: Still Wirehouse Queen Merrill reps like what they see. This year, the firm kept top honors among wirehouses in the Broker Report Card surveys, and beat its own overall score from last year.  |
Registered Rep. April 1, 2008 Christina Mucciolo |
Citi Reorganizes For Smith Barney Citigroup announces plans to reorganize its private bank and Global Wealth Management division into four separate units according to client wealth.  |
Registered Rep. December 11, 2003 David A. Gaffen |
Smith Barney Changes Payout Grid Smith Barney is altering its compensation system for 2004, with the main goal being to simplify its payouts and make them more product-neutral.  |
Registered Rep. December 1, 2005 Kristen French |
Wachovia: Back on Track Wachovia is back in good graces with its brokers. The many integration headaches of the firm's merger with Prudential Securities have finally subsided. Reps polled say management has tackled a number of improvements.  |
Registered Rep. November 1, 2002 Gaffen & Weinberg |
Brokers React to Citi's Research Move Sallie Krawcheck, former head of independent research firm Sanford C. Bernstein, will head a new business unit of Citigroup that will operate under the name Smith Barney, and include the private client group. Smith Barney brokers are skeptical, though.  |
Registered Rep. November 1, 2006 Angela Covo |
Skirts Vs. Smith Barney Less than 10 years after they settled the infamous "boom-boom room" case, Smith Barney is being sued for gender discrimination again.  |
Registered Rep. January 20, 2010 Halah Touryalai |
Wealth Management Has Strong Fourth Quarter At Morgan, BofA Neither Morgan Stanley Smith Barney nor Bank of America ended 2009 with a bang in the earnings department. But their wealth management units were pockets of strength.  |
Registered Rep. July 21, 2010 Jerry Gleeson |
Assets, Advisors Decline at Morgan Stanley Smith Barney in Q2 Morgan Stanley is making continued progress on its integration with Smith Barney, but declines in assets and headcount suggest it may be feeling the pain of client and advisor departures.  |
Registered Rep. August 9, 2011 Diana Britton |
Insurer-Affiliated Reps Show Increased Interest in Selling Investments Advisors affiliated with insurance companies are not locked into the insurance commission mentality; many of them looking to diversify their sources of revenues with other types of investment products as well as AUM-based fees.  |
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.  |