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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.   |
Registered Rep.
November 12, 2002
Rick Weinberg |
UBS PaineWebber to Hire 500 Brokers UBS PaineWebber Chairman Joseph Grano announced that the firm is going to hire up to 500 brokers during the next year. |
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. |
Registered Rep.
January 1, 2003
Nicholas Ferber |
Switching Has Changed During trying times like these, many reps are looking to switch jobs. When pondering a move, no question occupies more time or discussion between brokers, hiring managers and (sometimes) recruiters than the following: "What's in it for me?" |
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. |
Registered Rep.
November 1, 2005
Kristen French |
Bonus Bait Morgan Stanley is planning to offer bonuses to brokers who expand their production in 2006. |
Registered Rep.
December 3, 2010
Kristen French |
SEC Says No New Rules On Broker Bonuses The SEC is charged with regulating executive compensation under Dodd-Frank legislation, but not broker bonuses. "I've checked with everyone here and there is no rulemaking that the SEC is undertaking at this time with respect to broker bonuses." said a spokesman. |
Registered Rep.
November 11, 2010
Kristen French |
Sources: New SEC Rules Won't Kill Upfront Bonuses New rules governing broker recruiting bonuses? The idea, floated by Mary Schapiro on Monday, met with skepticism this week from securities industry attorneys, compensation experts and recruiters. |
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. |
Registered Rep.
February 1, 2003
David A. Geracioti |
Bumping the Bar at Wachovia Wachovia Securities is raising the bar on production-related bonuses. Translation for brokers: you've got to produce more to retain your current rate of pay. |
On Wall Street
December 1, 2010
Frances A. McMorris |
Broker Pay: The Next Regulatory Target? The federal agency's chairman, Mary Schapiro, said she wants to see rules that encourage "compensation programs that incentivize the right kind of behavior and conduct on the part of the industry," as opposed to short-term risk-taking. |
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.
January 7, 2011
Kristen French |
Will the SEC Curtail Recruiting Bonuses? With brokerage revenues getting squeezed and regulators sniffing around compensation issues and potential conflicts of interest, it's possible that 2011 could bring some changes to broker comp plans. |
Registered Rep.
February 8, 2006
Kevin Burke |
Merrill Brokers to Get Less Money Now, More Later--If They Stay Merrill Lynch has changed the way it pays its brokers to include more deferred compensation and less cash. The new package rewards brokers who stay a long time, while penalizing those that don't. Its aim is reducing turnover, but may also improve the firm's earnings. |
Registered Rep.
November 21, 2002
Rick Weinberg |
Morgan Stanley Firing 950 Brokers Morgan Stanley is firing 950 brokers, according to the various sources. |
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.
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. |
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. |
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. |
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. |
Financial Advisor
July 2012
Jim McConville |
RIAs Catching Up To Brokers In Compensation The compensation gap dividing elite independent advisors and top Wall Street brokers is closing, according to new research. |
Registered Rep.
February 6, 2003
Ross Tucker |
UBS Continues to Attract Talent UBS PaineWebber recently lured six more high-producing reps into its fold, offering further evidence that the firm is engaged in one of the Street's most vigorous recruiting campaigns. |
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. |
Registered Rep.
November 1, 2002
Rick Weinberg |
All in the Family Cases of brokers stealing from their clients are not unheard of. But, according to the Massachusetts Securities Division, a UBS PaineWebber broker gave the old crime of embezzlement a new twist. |
Registered Rep.
June 1, 2004
David A. Gaffen |
Shaking the Tree It's no secret that most firms are frequently looking for well-established producers, financial advisors who have been making big bucks for a decade or more. Top brass always relishes bagging an elephant from another firm. |
Registered Rep.
October 25, 2002
Rick Weinberg |
PaineWebber Appeal Rejected by Supreme Court Completing "bucking" its trend of supporting arbitration over litigation, the U.S. Supreme Court rejected a UBS PaineWebber appeal of a decision that the firm claims allows clients to circumvent arbitration agreements they had previously signed. |
CFO
March 1, 2010
David M. Katz |
Is Your Broker Mediocre? It may be a buyer's market, but choosing the best broker is far from easy. |
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. |
The Motley Fool
August 12, 2004 |
Understanding Mortgage Brokers For many people, the best way to get a mortgage is through a broker. |
Registered Rep.
January 12, 2006
John Churchill |
UBS Dinged $50 Million for Market Timing New York Stock Exchange Regulation, along with the New Jersey Bureau of Securities, today announced that UBS Financial Services was fined $49.5 million for failure to supervise the deceptive market timing activities of its brokers. |
Registered Rep.
March 15, 2004
David A. Gaffen |
Morgan Ups Offer to Prospective Candidates Industry recruiters say the firm has in recent weeks increased the upfront cash offered to top producers, while adding larger bonuses based on the first two years of production. |
Registered Rep.
December 1, 2005
Kristen French |
Morgan Brokers Still Heading for Exits There has been a parade of top brokers who have left Morgan Stanley in recent months. The losses, which began under embattled former CEO Phil Purcell, have not abated since his replacement, John Mack, arrived in June. |
Registered Rep.
March 1, 2006
Mindy Diamond |
Creative Giving Over the past year, top brokers who have switched houses on the Street have gotten some very creative compensation packages. The better the broker the more bells and whistles -- like loans and designer offices -- they are offered. |
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.
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.
September 25, 2002
Rick Weinberg |
The Axe Falls at DB Alex. Brown Deutsche Bank Alex. Brown yesterday began laying off employees. |
Registered Rep.
November 12, 2002
Rick Weinberg |
Wealth Management R Us! The Gnomes of Zurich to Drop Kick the PaineWebber Name The century-old PaineWebber name is going to be dropped from UBS AG's brokerage and investment-banking businesses in 2003, the company says. The new name is to be, UBS Wealth Management USA. |
The Motley Fool
September 27, 2010
Dan Caplinger |
Rich or Not, You Should Do This Discount brokers are great even if you have the money. |
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. |
Investment Advisor
September 2005
Kathleen M. McBride |
Happy Brokers New Broker Sentiment Index finds personal contentment and market optimism. |
Registered Rep.
March 15, 2010
John Aidan Byrne |
McCann Is the Man at UBS; Name Change to PaineWebber? The much-anticipated revival plan for UBS Wealth Management Americas will cap off a series of recent organizational changes garnering support from an important constituency: advisors at the beleaguered brokerage. |
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.
November 1, 2005
John Churchill |
The Money Squeeze There's one thing that stands between the big retail brokerage firms and the high profit margins that the executives of these firms and their investors seek: the financial advisor. |
The Motley Fool
April 8, 2010
Selena Maranjian |
Big Brokerages Can Still Be Trouble Though times have changed, some things remain the same. |
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.
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. |
Registered Rep.
October 14, 2010
Kristen French |
Merrill Brokers Had "Good Reason" To Leave, And Got $1.2 ml For It Two former Merrill brokers won $1.167 million in an arbitration award from Merrill Lynch for deferred compensation benefits |
Registered Rep.
April 28, 2003
David A. Gaffen |
Wachovia's Banking Unit Has New Deal for Reps Wachovia Securities, which offers reps several different affiliation levels, has predictably come up with a recruiting deal that has several different plans reps can choose from. This particular deal is only for those reps applying to work in the bank branches. |
Registered Rep.
January 31, 2006
John Churchill |
A.G. Edwards Cutting Compensation As the brokerage industry moves upmarket and seeks better return on equity and profit margins, the pressure for reps (and their firms) to produce continues to increase. |
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. |
