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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 1, 2006
Kristen French |
Broker Fights for His Reputation--and Wins (Some of It Back) Philip Spartis, a former highflying Salomon Smith Barney broker, last week won a $1 million defamation judgment against lawyer Stuart Goldberg in an Arizona court. |
Registered Rep.
March 1, 2003
Will Leitch |
CAP and Frown A long-running dispute over a Salomon Smith Barney Capital Accumulation Plan (CAP) is going to trial. |
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.
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.
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.
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.
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. |
Registered Rep.
October 1, 2002
Betsy Riley |
...Especially if They Foot the Bill It's not unusual for firms that settle arbitration cases to make the broker involved in the accusations pay part of the bill, even if the rep isn't specifically named in the case. What options does the broker have? |
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 5, 2006
John Churchill |
UBS Wins Prominent Black Rep From Smith Barney In what can be considered a coup of sorts for the firm, UBS hired a prominent black Smith Barney broker this past winter -- while it was under fire from a lawsuit brought by former brokers alleging a pattern and practice of racial discrimination. |
Registered Rep.
October 23, 2003
David A. Gaffen |
Spartis Cleared In Failure to Cooperate Charge Former Smith Barney broker Phil Spartis, who was responsible for overseeing the options exercise program for WorldCom employees, has been cleared of a charge brought against him by the New York Stock Exchange. |
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.
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.
November 1, 2002
David A. Geracioti |
Spartis, Elias Each Seek $100M From Smith Barney Spartis and Elias claim they were wrongfully fired in February. They claim that Smith Barney did not adequately represent them in WorldCom-related customer complaints. |
Registered Rep.
May 1, 2006
John Churchill |
Score One for Diversity UBS has hired a prominent black Smith Barney broker. |
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. |
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.
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.
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.
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.
July 9, 2003
David A. Gaffen |
Score One For Smith Barney In Cap Plan Hearings A superior court judge in California has ruled for Smith Barney in a case related to a deferred compensation plan that has been the subject of several lawsuits from brokers who formerly worked for the firm. The court said the CAP is not unlawful and does not violate labor laws. |
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. |
Registered Rep.
August 26, 2009
David A. Geracioti |
Is McCann Close to a Deal with UBS? Bloomberg is reporting that Bob McCann, the former head of Merrill Lynch's brokerage unit, is nearing a deal with his old employer that will allow him to take a job running UBS's wealth management unit. |
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.
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.
July 25, 2007
Kevin Burke |
Smith Barney Fined $50 Million for Market Timing; More Firms, Reps To Be Fined So you thought the market timing scandal was over? Think again. |
Registered Rep.
November 1, 2004
David A. Geracioti |
New Perks for Smith Barney HNW Clients The firm has introduced a new segmentation program designed to offer benefits to clients based on the level of assets they keep. |
Registered Rep.
September 24, 2002
David A. Gaffen |
Former Brokers Sue SSB, Grubman, Even Sandy Weill Want $100 Million Each for Wrongful Termination, Defamation Spartis and Elias claim that they were wrongfully fired from their positions in February of this year after the firm, in their eyes, did not adequately represent them in complaints filed by customers related to WorldCom. |
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.
September 1, 2004
John Churchill |
Handcuffs Made of Gold Deferred-Comp Plans Can be an Advisor's Lucrative Friend... Should I Stay or Should I go?... |
Registered Rep.
June 21, 2007
Christina Mucciolo |
Smith Barney Golden Handcuffs Hard to Crack A New Jersey Appellate Court's reversal of a lower court's decision is another notch in Smith Barney's belt. |
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.
September 3, 2003
David A. Gaffen |
Two Smith Barney Reps Deny NYSE Allegations Two former Smith Barney employees have denied WorldCom-related allegations brought against them by the NYSE. |
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 26, 2003
David A. Gaffen |
Smith Barney Settles On WorldCom; Spartis, Elias Continue Fighting A million dollars. That's the amount brokerage firm Smith Barney agreed to pay in a settlement with the New York Stock Exchange in an investigation of improper conduct at an Atlanta branch of the firm related to WorldCom employee/shareholders. |
Registered Rep.
September 27, 2006
Angela Covo |
Women on Wall Street Still Fighting Discrimination Less than 10 years after they settled the infamous "boom-boom room" case, Smith Barney is being sued for discrimination again. The new lawsuit doesn't include sexual-harassment charges, but does address the economics of gender discrimination. |
Registered Rep.
May 1, 2005
John Churchill |
Class-Action Threat Smith Barney is facing a new round of sex-discrimination suits. |
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. |
Registered Rep.
March 8, 2012
Kristen French |
Due Diligence: Morgan Stanley Advisors Paid to Put Clients in New Amex Credit Card Morgan Stanley Smith Barney financial advisors and client service associates will get a "small" amount of compensation for the administrative process of handling card sign up. |
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.
November 1, 2002
David A. Geracioti |
Looking for Work -- On the QT Are you a broker looking for a job, but afraid you'll be found out? A new Web site, privateclientpro.net, provides a fast, anonymous and comprehensive listing of opportunities. |
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.
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.
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.
April 29, 2004
David Gaffen |
Smith Barney Stays the Course Contrary to other large wirehouse brokerages, Smith Barney does not plan on aggressively expanding its sales force at this time. |
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. |
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.
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. |
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. |
