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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.   |
BusinessWeek
September 2, 2010
Moore & Mildenberg |
In the Battle of the Big Brokers, Merrill Is Winning Merrill Lynch earns higher profits with fewer advisers, thanks to a smooth integration with Bank of America and more cross-selling. |
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.
November 1, 2004
John Churchill |
Shaky Third Quarter Gives Advisors Pause The last quarter hasn't been great for retail brokerages. Low trading activity and geopolitical uncertainty kept investors on the sidelines, and advisors are feeling the pinch. |
Registered Rep.
February 1, 2005 |
By the Numbers Top 10 Broker/Dealers, by Advisor Headcount: Merrill Lynch... Wachovia... Smith Barney... Morgan Stanley... etc. |
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.
April 19, 2006
Kevin Burke |
Merrill's Brokerage Earnings Up Pretax earnings at Merrill Lynch's global private client group rose 27% in the first quarter ending March 31 to $646 million, up from $510 million in the same period a year ago. As might be expected, the division's headcount increased along with profits. |
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? |
Registered Rep.
August 26, 2010
John Aidan Byrne |
Neck And Neck, Morgan and Merrill On Hiring Sprees Both firms say they plan to add net financial advisors in 2010, adding to stated plans to sign up 2,000 trainees each this year. |
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. |
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.
August 17, 2005
Kristen French |
Gorman to the Rescue? Now that James Gorman has been selected as the future head of Morgan Stanley's retail brokerage, what will he do to turn it around, and can he pull it off? |
Registered Rep.
April 1, 2008
Kristen French |
Runaway Growth: Rep-As-Advisor Assets Explode In the past year, as a result of the end of asset-based fees in non-advisory managed-account programs, assets in nondiscretionary rep-as-advisor programs have ballooned. |
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. |
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 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. |
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. |
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. |
Registered Rep.
March 9, 2011
Kristen French |
Morgan Stanley Cutting 200-300 FAs And Trainees The firm's wealth management division, Morgan Stanley Smith Barney, should end the quarter with about 17,800 advisors, still the largest brokerage force in the U.S. by headcount. |
Registered Rep.
October 1, 2002 |
Warm Bodies Brokerages ranked by number of reps. |
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. |
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. |
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.
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.
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.
February 19, 2010
Jerry Gleeson |
Merrill Hires Executive from MSSB A senior executive at Morgan Stanley Smith Barney has jumped ship for Merrill Lynch. Jimmy Tighe, former New York City regional director for Morgan has been hired by Merrill as managing director and business & resource integration executive at Merrill Lynch Wealth Management. |
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.
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. |
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. |
Registered Rep.
February 3, 2010
Kristen French |
Merrill Plans Trainee Hiring Spree Bank of America plans to rebuild its brokerage force in 2010 by adding rookie advisors rather than competing for talent in the industry's expensive recruiting war. |
Registered Rep.
March 23, 2006
Kristen French |
Merrill To Gorman: Quit Poaching Our Reps And BOMs Is James Gorman, the new head of retail at Morgan Stanley, brazenly poaching employees from his old firm, Merrill Lynch? A judge apparently thinks so. |
Registered Rep.
April 21, 2010
Jerry Gleeson |
Morgan Stanley Profits Rise, Advisor Count Flat Morgan Stanley on Wednesday reported higher-than-expected revenues and profits in the first quarter, lifted by its acquisition last spring of Smith Barney and by higher fixed income. |
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.
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. |
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. |
Registered Rep.
September 17, 2008
Geracioti & Touryalai |
Morgan And Wachovia? The need for the kind of capital offered by customer deposits apparently is driving securities firms into the arms of banks. |
Registered Rep.
December 1, 2005
Kristen French |
Where's My Money? After California brokers won $37 million in an overtime lawsuit against Merrill Lynch in August, a slew of copycat lawsuits have been filed against other brokerage firms, many of them in New York. |
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. |
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. |
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. |
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. |
On Wall Street
January 1, 2009 |
Who's News Staffing announcements from wirehouses, regionals and private banks from the January 2009 issue. |
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.
August 1, 2004 |
Comings & Goings Sam Vetas, one of Morgan Stanley's top producers has moved... Joe Biondo Sr. recently went independent from Smith Barney... Former Registered Rep. columnist Harry Pappas has switched firms... etc. |
Registered Rep.
February 11, 2008
John Churchill |
Retail Financial Advisors' Refrain: Let's Kill The Traders Brokers are bitter these days -- and for good reason. Much of their vitriol is aimed at the traders. |
Registered Rep.
June 5, 2012
Diana Britton |
A Regional Resurgence After years of being considered acquisition targets, regional broker/dealers may be making a comeback. |
Registered Rep.
September 1, 2005
Kristen French |
Gorman to the Rescue? Morgan Stanley brokers should expect a revolution when James Gorman takes the helm of the retail unit. |
Registered Rep.
March 1, 2005 |
Comings & Goings Morgan Stanley made several key additions last month... A top producer, Bryan Strachan, left Merrill Lynch to join Smith Barney in its Boston office... On the wholesaling front, Paul Schieber was promoted to director of internal wholesaling at... etc. |
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. |
Registered Rep.
October 1, 2010
John Aidan Byrne |
Who Will be Number One Among the Wirehouses? A good old-fashioned Wall Street fight for retail assets -- and a fierce tussle over which firm can call itself the Number One retail wealth management firm on Wall Street -- is brewing. |
