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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.
August 12, 2005
Kristen French
Morgan Pink-Slips Brokers, Clients Reassigned New Morgan Stanley CEO John Mack made his first big move on Morgan's rank-and-file this week, instructing branch managers to dismiss approximately 1,000 brokers. mark for My Articles similar articles
Registered Rep.
November 21, 2002
Rick Weinberg
Morgan Stanley Firing 950 Brokers Morgan Stanley is firing 950 brokers, according to the various sources. 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.
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.
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.
March 1, 2005
Steve Watkins
Money in the Bank Bank-owned brokerage companies have awakened to the changes they need to make to attract top-shelf talent, and brokers are taking notice. 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.
January 1, 2003
Rick Weinberg
UBS PaineWebber Cuts Bonuses, Expense Accounts Brokers at UBS Securities received a double hit of bad news in early December. Not only were they informed that the bonuses they receive for assets under management were being cut, but expense accounts are being trimmed as well. mark for My Articles similar articles
The Motley Fool
May 7, 2010
Jennifer Schonberger
Did Your Broker Make the Grade Yesterday? Spokespersons from the major online brokers, none of whom said their websites experienced outages during yesterday's tumultuous trading session, discuss how their companies handled the day. mark for My Articles similar articles
Registered Rep.
January 8, 2003
Will Leitch
NASD: Firms Are Overcharging Clients The NASD, acting on a tip acquired during an investigation, has sent several brokerage firms word that it has discovered brokers are not providing earned discounts to mutual fund investors, therefore overcharging them. mark for My Articles similar articles
The Motley Fool
April 30, 2009
Dan Caplinger
Tools to Make You a Better Investor Brokers have been hurting, and you can take advantage. With brokers focusing on getting your business, you'll find them developing and expanding on tools that could help you invest more easily. 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.
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.
October 1, 2002
David A. Geracioti
Outgrowing the Series 7? Registered investment advisors must take the Series 65 exam. As the line between brokers and financial advisors blurs, what responsibilities do brokers that dispense advice and collect a fee based on assets have? mark for My Articles similar articles
U.S. Banker
September 2001
Mark Bruno
Ameritrade Bulks Up While Deutsche Slims Down Ameritrade Holding Corp. needed to bulk up. It lost out in its effort to acquire Web Street, the online brokerage that recently sold for $45 million to Ameritrade's rival, E*Trade... 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.
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.
February 1, 2003
Will Leitch
NASD Investigates Potential Breakpoint Violations The confusing slew of regulations that have followed on the heels of the Sarbanes-Oxley Act has tapped a strange feeling in brokers: the fear of violating securities rules unwittingly. A recent investigation by the NASD shows their worries are not unfounded. 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.
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
The Motley Fool
March 22, 2011
Dan Caplinger
This Will Make You a Smarter Investor There's more to smart money management than just picking great stocks. Increasingly, it's becoming just as important to find the right discount broker to give you the best and least expensive access to the investments you want. mark for My Articles similar articles
Registered Rep.
November 3, 2004
Broker or Advisor---Who Knows the Difference? More than half of American investors look to brokers for more than just transactional assistance, according to new research, which also finds that investors don't understand the differences between brokers and registered investment advisors. mark for My Articles similar articles
Registered Rep.
April 28, 2003
Will Leitch
Historic Settlement Doesn't Target Brokers -- But You're Hardly Home Free Now that the Wall Street global settlement is official, brokers might be inclined to heave a sigh of relief. Don't. While the settlement will have a lasting impact on the brokerage industry, brokers have been unscathed by the Spitzer investigations -- so far. mark for My Articles similar articles
Investment Advisor
October 2007
Kathleen M. McBride
A Shot in the Dark When giving advice on investments as full-service reps do, what is that worth as opposed to taking orders for execution as discount brokers do? It has been difficult to analyze whether full-service representatives are getting paid what they are worth, relative to their peers. mark for My Articles similar articles
Registered Rep.
October 1, 2002
David A. Gaffen
Behind Every Great Producer, A Great Assistant This survey details trends in the compensation, duties and preferences of sales assistants, essential players in the brokerage business. 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.
November 1, 2005
Kristen French
Bonus Bait Morgan Stanley is planning to offer bonuses to brokers who expand their production in 2006. 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.
March 30, 2005
John Churchill
House Urges SEC to Adopt Broker-Dealer Exemption Rule At issue, at least as far as financial planners are concerned, is that registered reps are presenting themselves as fiduciaries, when in fact they are brokers with a less-than-fiduciary responsibility to their clients. 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.
November 1, 2004
John Churchill
Exodus At UBS? This month, the contingent of PaineWebber brokers who remained at UBS following the 2000 merger will receive the final installment of their post-merger retention bonuses, perhaps triggering a mini-exodus of brokers come the first of the year. mark for My Articles similar articles
Registered Rep.
May 1, 2004
Will Leitch
Out, Damn Spots Already, stockbrokers have located a loophole in a NASD instituted a rule meant to prevent stockbrokers from, in effect, buying their way out of client complaints. mark for My Articles similar articles
Registered Rep.
August 10, 2005
Kristen French
Sources: Morgan Cuts Slated for Thursday Morgan Stanley's human resources department created a performance-based formula for selecting the 1000 people to let go. 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.
December 1, 2004
John Churchill
If You're a Broker and You Know It As the holiday season approaches, the SEC is getting daily entreaties from registered investment advisors seeking an end to the broker/dealer exemption rule. mark for My Articles similar articles
Registered Rep.
August 1, 2005
John Churchill
Brokers Called Up for Active Duty Face Licensing Headaches, Book-Poaching Colleagues For registered rep reservists serving in one of the nation's armed forces, coming home and returning to the job is soon to get a lot easier. Of course, the NASD says there is nothing it can do to prevent colleagues from stealing a GI advisor's book. mark for My Articles similar articles
Registered Rep.
November 1, 2005
Mindy Diamond
In Good Company There's a trend brewing among brokers with nascent high-net-worth books. Increasingly, these reps are not interested in making a lateral move to a wirehouse, preferring instead to hold out for a position at a firm whose brand resonates with the ultra-wealthy. 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.
June 25, 2003
Nigel Goodman
Tech Spending on the Wane Technology spending is dropping at securities firms, and some reps are starting to feel the pinch. mark for My Articles similar articles
Registered Rep.
March 17, 2003
Will Leitch
Unfair Disclosure For The Broker? In a little-publicized move, the NASD has formed a Public Information Review Initiative, which would radically expand investors' access to information about brokers. mark for My Articles similar articles
Managed Care
May 2000
John Carroll
Like Stock Brokers, Are Health Care's Middlemen Losing Influence? Those who make deals between buyers and insurers are used to perks and tidy commissions. The Internet and defined contributions may threaten that. mark for My Articles similar articles
Investment Advisor
August 2010
Thomas D. Giachetti
The Compliance Coach: Independent Advisors: Don't Violate the Protocol There are two major issues for a registered representative to consider when deciding to leave a firm and go independent. The first is how to leave. The second is appropriate registration and ongoing regulatory complance requirements. 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.
June 1, 2007
All About the Benjamins Reps say the darndest things. mark for My Articles similar articles
The Motley Fool
April 13, 2005
Selena Maranjian
Looking for Free Trades Savvy investors are finding ultra-low-cost brokerages. mark for My Articles similar articles
Registered Rep.
November 30, 2005
Kristen French
Wachovia Shaves Payout, Levels Charges on In-House and Outside SMAs After simplifying it's payout structure earlier this year, Wachovia Securities announced that it would make some more tweaks in 2006 and raise ticket charges on some in-house money-management products to match those of third-party products. 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.
October 1, 2002
Ross Tucker
Payback Time During the heady days of the bull market brokers found themselves lured to other firms by big upfront bonuses, in the form of forgivable loans. Unable to maintain prior production rates under worsening market conditions, many have lost their jobs and their clients. Now their firms want to collect on those loans. 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