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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.
May 1, 2006
John Churchill |
UBS Bellies Up to the Acquisition Table With the cost of recruiting and training soaring, firms continue to turn to acquisitions. The recent purchase by UBS of Piper Jaffray's brokerage unit won't be the last as competition for clients and their assets continues to intensify. |
Registered Rep.
September 8, 2006
Halah Touryalai |
An Offer They Can't Refuse UBS is doing all it can to hold onto as many of the advisors at newly acquired Cleveland-based McDonald Investments as possible -- beginning with a retention package that will be hard to refuse. |
Registered Rep.
September 13, 2010
Susan Konig |
Wirehouse Recruiting Stalls, Deals Keep Rising but Fewer Advisors Moving These days there are a lot more strings attached to recruiting packages and in the current market they're not great for brokers or firms. |
Registered Rep.
December 1, 2005
John Churchill |
UBS: You Against Us? According to rank-and-file reps surveyed, UBS brass did a lot of things right this year and can take a bow -- and then quickly straighten up and fix the rest of what reps say is still ailing the firm. |
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.
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. |
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.
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.
August 6, 2010
John Aidan Byrne |
UBS Advisors Welcome Mortgage Rollout Financial advisors at UBS Wealth Management Americas closely watched this week as the U.S. brokerage rolled out plans to sell more of its own mortgage and lending products through its retail brokerage force. |
Registered Rep.
October 1, 2006
Halah Touryalai |
UBS Offers Hot Retention Bonus UBS is doing all it can to hold onto as many of the newly acquired Cleveland-based McDonald Investments advisors as possible -- beginning with a retention package that will be hard to refuse. |
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.
January 1, 2005
John Churchill |
Money for Maturity A shaky market environment in 2004 didn't stop the largest brokerage firms from fighting tooth-and-nail for the best reps, and, heading into 2005, similar rules apply. |
Registered Rep.
April 11, 2006
John Churchill |
UBS Snaps Up Piper Jaffray's Brokerage Unit The Swiss banking giant UBS added the retail unit of Midwestern gem Piper Jaffray today to its wirehouse brokerage division for $500 million in cash and other considerations. |
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, 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.
November 22, 2005
John Churchill |
For Merrill and Smith Barney Acquisitions, It's Wait n' See The financial firms' respective purchases would have added hundreds of regional brokers to their retail brokerage units, but many of these departing brokers have decided they don't want to work for a big firm and are finding sweet recruiting deals at smaller shops. |
Registered Rep.
March 26, 2009
Halah Touryalai |
Trailing 12? Try Trailing Three. Recruiting Bonuses Cool Down. You know times are tough when recruiting deals are dropping across the board at major b/ds. |
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.
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.
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.
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. |
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. |
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.
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. |
Registered Rep.
September 6, 2006
John Churchill |
UBS Buys Another Brokerage With the ink still drying on its deal to purchase Piper Jaffray's brokerage arm, Swiss firm UBS announced today it will now buy Cleveland-based McDonald Investments, KeyCorp's brokerage unit. |
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.
August 19, 2011
Diana Britton |
What Will the Securities America Retention Package Look Like? The details of the Ladenburg Thalmann Financial Services' retention packages to Securities America's 1,700 reps are still up in the air. |
Registered Rep.
November 1, 2005
John Churchill |
Merrill Carrot to Advest Reps Merrill Lynch has proffered retention packages to newly acquired Advest Group's financial advisors, and according to industry observers, the packages are having their desired effect. |
Registered Rep.
October 5, 2011
John Aidan Byrne |
UBS Says Headhunters Playing Dirty, Unfairly Smearing the Firm Despite extensive media coverage describing nervous financial advisors and clients at the firm, insiders contend that much of this unflattering coverage is over-the-top. |
On Wall Street
October 1, 2009
Helen Kearney |
UBS Weighs Options as the Suddenly Smallest Wirehouse No one can deny it's been a tough year for UBS's wealth management business in the U.S. |
Registered Rep.
December 11, 2003
David A. Gaffen |
Smith Barney Changes Payout Grid Smith Barney is altering its compensation system for 2004, with the main goal being to simplify its payouts and make them more product-neutral. |
Registered Rep.
May 1, 2006
Kevin Burke |
Failure to Launch Last year, Merrill Lynch's deal to buy Advest was regarded as a savvy transaction. Eight months later, with about 100 reps left, the deal math looks considerably worse. But Merrill may soon have an opportunity to see if it can do better. |
Registered Rep.
October 8, 2010
Kristen French |
Wells Fargo Advisors Hikes Recruiting Bonuses 100 bps In the next couple of months, major Wall Street brokers may be giving Wells Fargo Advisors a closer look. |
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.
November 1, 2006
John Churchill |
A.G.E. to Catch a Rep Instead of buying brokers like its peers with offers of big upfront forgivable loans, A.G. Edwards is offering its own reps bonuses for successfully recruiting good reps. |
Registered Rep.
June 1, 2005
John Churchill |
Wall Street's Big Curtain Call How baby boomer brokers move into retirement over the next 10 to 15 years will change the face of the industry in many ways. |
Registered Rep.
August 1, 2005
John Churchill |
Should I Stay or Should I Go? When Smith Barney and Legg Mason announced a deal to swap the wirehouse's asset-management business for Legg's brokerage unit, a lot of Legg reps made calls to recruiters and began to prepare for a move. But now, a lot of reps have stopped packing. |
Registered Rep.
June 1, 2005
John Churchill |
Weclome Aboard Recruiters say reps that are tiring of the pressure to convert their clients to fee-based arrangements have an alternative --- in the independent broker/dealer world. |
Registered Rep.
December 2, 2010
Susan Konig |
Former Branch Manager Recruits UBS Advisors With $1 billion Two advisors from UBS' Houston branch resigned from the firm to join their former UBS branch office manager, Patrick Mendenhall, at Houston-based U.S. Capital Advisors, the wealth management advisory firm he formed in September |
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.
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.
August 13, 2007
Halah Touryalai |
Merrill Grabs Advisors Producing $5.5 million From Rival UBS Merrill Lynch won big last week in the aggressive industry-wide recruiting war for top advisors. |
Registered Rep.
March 24, 2008
Halah Touryalai |
Will Dimon Offer Retention Package To Coveted Bear Advisors? JP Morgan's chief may have asked rival firms to back off from hiring Bear Stearns advisors, but that doesn't mean competitors have stopped offering recruiting deals to anxious Bear reps. |
Registered Rep.
November 29, 2011
John Aidan Byrne |
UBS: Going Mobile with an FA App Financial advisors at UBS Wealth Management Americas are about to go more mobile - in a far-reaching pilot program that enables them to use an extensive array of UBS tools and other applications. |
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.
August 1, 2005
John Churchill |
Firms to Recruits: Are You Experienced? Across the industry, companies are upgrading training programs to better prepare reps for the growing demands of the job. |
Financial Advisor
January 2007
Tracey Longo |
Allure Of Independence Remains Bright Independent broker-dealers step up their recruiting efforts among reps and the already liberated. |
Registered Rep.
May 4, 2010
John Aidan Byrne |
UBS Client Asset Outflows Slow in Q1 Improving market conditions softened the blow as total client assets hit $721.6 billion in the brokerage unit of the Swiss banking giant. |
Registered Rep.
March 15, 2012
Kristen French |
Did the $5 Debit Card Fee Prompt the Merrill Exodus? Bank of America Merrill Lynch has been bleeding top brokers in the past six months, just as many industry observers predicted. |
