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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.
Registered Rep. January 1, 2003 Gaffen & Geracioti	What's Going to Happen to the Rock? The Prudential unit seems like a serious candidate for a sale. It has been losing money and been a perennial under-performer.
U.S. Banker April 2003 Glen Fest	Going with the Flow Wachovia CEO Ken Thompson's deal with Prudential has tongues wagging and rivals paying close attention. The newly combined brokerage, nets the bank greater access to trillions of dollars that will pass from one generation to another over the next 10 years. Move over Merrill?
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. February 24, 2003 David A. Gaffen	Wachovia-Pru: What's Next The newly-announced joint venture between Wachovia's retail brokerage and Prudential Securities isn't scheduled to close for another 18 months. But the new company should be able to measure the effectiveness of its broker-retention strategy sooner than that.
Registered Rep. December 1, 2003 David A. Gaffen	Suddenly, A Monster Wachovia Securities has gradually, then all of a sudden, emerged as a monster brokerage firm. But Wachovia management insists that its Richmond roots aren't the only difference between it and its New York-based rivals.
Registered Rep. September 27, 2004 David A. Gaffen	Wachovia Securities in Technological Purgatory The Prudential/Wachovia Securities systems integration continues to frustrate the firms' advisors, although the most serious problems have been cleared up.
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. September 29, 2008	Wachovia, The Bank, Saved by Citi; What Will Happen To Wachovia Securities? Firm Says The AGE Integration To Continue Unaffected Citigroup apparently thinks its got enough financial advisors: Citi declined to buy the retail brokerage business -- Wachovia Securities (and A.G. Edwards) -- and the asset management unit (Evergreen).
Registered Rep. July 28, 2008 Kristen French	Wachovia Could Sell Retail Brokerage: Analysts Analysts point to a record $8.9 billion quarterly loss in the second quarter, but Wachovia says the brokerage isn't for sale.
Registered Rep. October 1, 2002	Warm Bodies Brokerages ranked by number of reps.
Registered Rep. November 27, 2002 Will Leitch	Going Upstream Prudential gives up bringing the U.S. brokerage model to the Old World.
Registered Rep. May 31, 2007 Kevin Burke	Wachovia Buys A.G. Edwards for $6.8 Billion, Creating New Rival to Merrill, Smith Barney The deal puts Wachovia among the top three competitors in retail brokerage -- in terms of both assets and advisors -- and retail banking.
Registered Rep. November 1, 2004 David A. Gaffen	The Tipping Point Depending on how the grid changes resolve continuing differences between the Pru and Wachovia payout plans, old Pru reps may be ready to walk. Advisors say that at this point, they are growing weary of promises and pep talks.
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.
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. 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. February 3, 2009 John Churchill	Wachovia-UBS Hookup Rumored but Unlikely Here's a possible new twist in the changing financial services landscape: A report in the New York Post raises the possibility of a "joint venture" between the wealth management divisions of Wachovia Securities and UBS.
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.
BusinessWeek January 12, 2004	Ken Thompson In his nearly four years at the helm of First Union -- now Wachovia Corp. -- G. Kennedy Thompson has rewritten the book on bank mergers.
Registered Rep. January 13, 2009 David Geracioti	Citi, Morgan Stanley Agree To Form Joint Venture; Reps Will Receive Retention Bonus--Gorman Says: "We're Not Stupid" The combined retail brokerage units will become the largest financial services firm in the world and be a "force to be reckoned with." The combined entity will have more than 20,000 Financial advisors and an estimated $1.7 trillion in client assets.
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. September 10, 2009 Kristen French	Gorman Grabs Morgan Stanley CEO Slot James Gorman, the former head of Morgan Stanley's retail brokerage division and now co-president of the firm, is slated to take over the CEO job in January, 2010.
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. 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. June 1, 2006 Halah Touryalai	Overtime Settlements Stacking Up Citigroup agreed in mid-May to pay a record $98 million to past and present advisors to settle their overtime-pay claims. It's the fourth major financial firm to settle a class-action suit regarding overtime pay within the past 10 months.
Registered Rep. July 20, 2005 John Churchill	Wall Street's Second-Quarter Results: It Could Have Been Worse The big financial services players have released their second-quarter earnings, and most private client divisions didn't do as badly as analysts were expecting -- thanks, in part, to an improving equity market. Charles Schwab... Merrill Lynch... etc.
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 1, 2003 Gaffen & Geracioti	The Future of the Industry The broker has to be a person who can handle every aspect of a client's financial life. The broker must evolve into a kind of chief financial officer for the client -- managing everything from investments to insurance to estate planning to mortgage banking.
Bank Technology News November 2003 Jeremy Quittner	Finding Equals in a Merger Jean Davis's responsibility is to integrate all of Wachovia's systems, technologies and operations since its 2001 merger with First Union. It wasn't a cake walk, but the new entity is beginning to hum.
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.
Registered Rep. May 18, 2009 John Churchill	As Wells Fargo Takes Over, Integration at Wachovia and A.G. Edwards Still Faces Hurdles Some financial advisors at what is now the largest retail brokerage firm in the U.S. say the integration of the Wachovia and A.G. Edwards is still incomplete, and leaves much to be desired.
Registered Rep. November 1, 2003 David A. Gaffen	Is Wall Street Abandoning Main Street? Are the major brokerage firms losing interest in the everyday investor who has been the very foundation of many of its successes?
Registered Rep. March 4, 2009 David A. Geracioti	The Conflicts of Interest in Not Being a Fiduciary; Hang Charlie Merrill In Effigy? At least one commentator is calling for Charlie Merrill to be hung in effigy for creating the modern-day, hard-charging, sales-oriented brokerage called Merrill Lynch.
Registered Rep. June 8, 2007 Christina Mucciolo	Wachovia Accelerates Hiring in Private Bank Under plans to expand its private banking presence, Wachovia Securities said it would hire about 300 private bankers over the next three years, more than doubling its number of private banking relationship managers.
On Wall Street February 1, 2010 Frances A. McMorris	When Firms Collide: Is Culture Clash Inevitable? Merged companies have been integrated and new executives have taken up their posts, but everyone is still trying to adjust.
Registered Rep. August 1, 2006 Kevin Burke	Stay Wachovia's not the first firm to offer multiple affiliation options to its reps -- Raymond James has offered something similar for several years -- but it is the first wirehouse-type brokerage house to do so. Ultimately, the model could serve as a blueprint for the retail advisory business.
Wall Street & Technology June 4, 2004 Jessica Pallay	Growing Through a Major Merger Wachovia CIO Martyn Greene faces integration challenges with the firm's Prudential merger.
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. June 1, 2006 Kristen French	Hungry for Hires Wachovia hired a whopping 900 reps in 2005, bringing the total to 10,400, and aims to add the same number in 2006, including around 100 rookies.
Registered Rep. November 1, 2006	Comings & Goings Wachovia Securities promoted Mary Mack to president of its Investment Services Group... Securities America hired Gregg Johnson to head its recruiting efforts... etc.
Registered Rep. October 10, 2008	Citi Walks, Wells Fargo Gets Wachovia, Wachovia Reps Relieved The union of Wells Fargo and Wachovia will create the country's third-largest coast-to-coast banking behemoth. But the deal still faces obstacles before it can be finalized.
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. 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. February 13, 2004 David A. Gaffen	More Wachovia, Less Prudential Three former Prudential managers depart as part of the post-merger consolidation.
Registered Rep. February 8, 2004 Will Leitch	IT Spending Expected To Rise in 2004 A new study asserts that Wall St. firms are ready to address one of reps' most common complaints in recent years: the lack of resources devoted to internal infrastructure, especially technology.
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. 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. 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 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.