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Registered Rep.
October 1, 2004
David A. Gaffen |
From Top Dog to Compliance Monkey Many branch managers at full-service broker/dealers around the country have found in recent years that their old role as branch manager has diminished, as more business decisions are made by headquarters.   |
Registered Rep.
July 1, 2005
Matt Barthel |
Reinventing the Branch Manager The do-it-all BOM -- the guy who would mentor a financial office's young bucks, auditing their tickets and their client interactions all while recruiting and tending his own book -- is becoming obsolete in today's compliance-happy environment. |
Registered Rep.
October 1, 2004
Will Leitch |
The Death of the Peter Principle? Some experts speculate that the "producing branch manager" is a dying breed --- with more broker/dealers now hiring professional managers instead of promoting top producers. |
Registered Rep.
July 1, 2006 |
Legends Historically, many reps aspired to management -- some to move up the ladder and climb into the executive suite. Here are four short profiles of some veteran professionals who have successfully helped their associates with their careers. |
Registered Rep.
July 13, 2010
Susan Konig |
BOMs Work More, Earn Less In the 1970s through the early 1990s, plenty of financial advisors hoped one day to become branch managers. |
Registered Rep.
May 11, 2010
Susan Konig |
Branch Managers, To Produce or Not to Produce? Or Take a Pay Cut? Consolidation is forcing branch managers out of the business, or, if they are lucky, they are being pushed back into production. |
Registered Rep.
March 1, 2003
Sam Jaffe |
Coaching in a Storm We spoke to dozens of the best branch office managers, from managers of tiny regional shops to lords of sprawling city offices. Their secret to success doesn't sound all that tough: work hard and pay attention to details. |
Registered Rep.
March 1, 2006
Susan Konig |
Female Branch Managers: Rare, and Maybe Getting Rarer While financial firms deserve credit for trying to move more women into management, there is now growing apprehension about the BOM role. With new demands on branch managers, women are wondering whether it's still a good career move. |
Registered Rep.
May 1, 2008
Mindy Diamond |
The Branch Manager Switch In today's turbulent markets, many financial advisors may want to give up a book of business and graduate to management, but that position also isn't as risk-free as they may think. |
Registered Rep.
March 1, 2003
Andre Cappon |
Okay, Team, Listen Up! Whether some reps like to acknowledge it, the branch office manager is vital to the success of a given branch. |
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. |
On Wall Street
January 1, 2011 |
Recruiting's Next Big Challenge A conversation with industry headhunters about the job market for financial advisors. |
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, 2005
Matt Barthel |
What 3012 Hath Wrought When the NASD released follow-up guidance on Conduct Rule 3012, it aimed to clarify how member firms must supervise the personal business of producing branch managers. Unfortunately, many firms remain confused about the rule's requirements. |
Registered Rep.
July 13, 2007
Susan Konig |
Post Acquisition, A.G. Edwards BOMs Have Tough Job to Do With the Wachovia purchase of A.G. Edwards, it's not just A.G. Edwards reps (some of whom fear that the AGE corporate culture will change) who are worried. So are acquired firm's branch managers. |
Registered Rep.
January 11, 2010
Anne Field |
Cop or Coach How can you be a cop and a coach at the same time? That's the challenge facing many branch managers these days. |
Registered Rep.
July 1, 2004
Gregg Wirth |
It's the Advice, Stupid The NASD's probe definitely has many brokers and branch managers in the industry nervous. They are unsure exactly what regulators are looking for, what constitutes a violation and what, if any, penalties could be levied. |
Registered Rep.
February 1, 2006
Kristen French |
Both Sides Now Brokers who hold dual licenses -- both the Series 7 and Series 65 licenses -- will have to take fiduciary responsibility on some accounts. But they can also sell investments, after they make it crystal clear that they're doing so. |
Registered Rep.
July 21, 2005
Kristen French |
On the Gossip Trail: Mack to Replace Schaefer--But With Whom? When Morgan Stanley announced that the head of its struggling retail brokerage unit was stepping down, Wall Street immediately began speculating about who will be chosen as his successor -- and what that successor might augur for the retail brokerage. |
Registered Rep.
December 13, 2010
Susan Konig |
IBD and RIA Opportunities Arise For Branch Managers As the independent broker/dealer and RIA channels grow, they are creating a viable market for those displaced managers. |
Registered Rep.
October 1, 2002
Andre Cappon |
The Pygmalion Effect: The Branch Manager Sets the Tone Why are some brokerage offices within the same network consistently profitable while others are consistently unprofitable? |
Registered Rep.
July 1, 2004
David A. Gaffen |
The Great Compliance Witch Hunt! Many clean brokers jump firms, only to discover their old broker/dealer besmirched their U4s. In a business where client realtionships are at stake, things can get ugly very quickly. |
Registered Rep.
April 11, 2011
Susan Konig |
Can Producing While You Manage Make You Better at Both? Some producers are not a formidable producers until they become producing branch managers. |
Registered Rep.
March 12, 2012
Susan Konig |
The Happiest Branch Office Managers Around While job satisfaction surveys seem to be everywhere in the industry these days, you'd be hard-pressed to find even one devoted to the role of branch office manager. |
Registered Rep.
January 1, 2006
Kristen French |
Too Hot to Touch The recent acquisitions of Legg Mason's retail brokerage by Citigroup and Advest by Merrill Lynch brought an interesting recruiting problem into high relief: Raiding. |
On Wall Street
November 1, 2009
Bill Willis |
Branch Managers Will Need To Start Producing Again The vast majority of today's new producing managers do not have meaningful client bases and they are being forced back into production. |
Registered Rep.
November 1, 2002
David A. Gaffen |
Auditing Your Brokers When it comes to compliance these days, the message from regulators is clear: Attention must be paid. |
On Wall Street
November 1, 2009
Helen Kearney |
Back on the Front Lines Over the past few months, both UBS and Morgan Stanley Smith Barney have completed their transitions to the 'complex' management structure. Many of the branch managers affected haven't had a book of business for years and say it's not an easy thing to conjure up overnight. |
Registered Rep.
August 13, 2012
Susan Konig |
Can FA Training Programs Redeem Themselves? Brokerages have an outmoded and inefficient way to train new advisors. The high expense and low success rate of broker trainee programs is increasingly problematic for branch managers, who must continually find new talent. |
Registered Rep.
December 12, 2011
Susan Konig |
Recruiting Wars Heat Up in 2012 A confluence of factors has shrunk the pool of potential recruits for wirehouse firms, and that means competition for the best advisors is fierce. |
Registered Rep.
December 1, 2005 |
When to Blow What rights and/or obligations does the home office have to its representatives to maintain a support staff that is able to efficiently and correctly process the paperwork that is sent to them? Do you feel that the threat of legal action would be sufficient to finally get the attention needed? |
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.
January 10, 2011
Susan Konig |
In Tough Year, Unearthing Opportunities For Branch Managers Shifts in the wealth management business could spell opportunity for those managers who are able to reinvent themselves. |
Registered Rep.
November 1, 2005
Christopher O'Leary |
A Crusade Against Indies? Regardless of whether going independent means a more regulatory scrutiny or not, advisors thinking of going out on their own need to understand just how much work such a move will entail in terms of keeping up with the ever-changing world of regulations. |
Registered Rep.
September 20, 2005
John Churchill |
Merrill Cutting Top Brass Merrill Lynch, famous for its seemingly continual reorganizations, is at it again. Specifically, the firm is firing half of its regional directors, sources say. |
Registered Rep.
February 23, 2005
John Churchill |
Janney Montgomery to Merge with Parker/Hunter Observers say the deal is a sign of things to come, as smaller firms look to acquire economies of scale that will help them compete more effectively in the compliance-intensive brokerage business. |
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. |
On Wall Street
January 1, 2010 |
The Hire Powers Speak Out Headhunters open up about hiring, entrepreneurial mindsets, and wirehouse business models. |
Registered Rep.
November 1, 2002
David A. Geracioti |
Looking for Work -- On the QT Are you a broker looking for a job, but afraid you'll be found out? A new Web site, privateclientpro.net, provides a fast, anonymous and comprehensive listing of opportunities. |
Registered Rep.
November 5, 2012
Diana Britton |
Defying the Odds It's orthodoxy that small IBDs won't be able to stay in business given the unprecedented increase in regulatory and technology costs. Yet some tiny firms are bucking the trend. Here's how they're doing it. |
Registered Rep.
November 15, 2010
Diana Britton |
How One Wealth Management Firm Intends To Grow Amid Competition At a time when recruitment activity in the independent broker/dealer channel has slowed, Capital Guardian Wealth Management, a hybrid firm, is undergoing a major growth initiative, with plans to add 15 advisors by year-end. |
Registered Rep.
June 1, 2006
Mindy Diamond |
Valuable Lessons A broker in mid-career doldrums with a desire to teach, coach or mentor should let prospective employers know of this interest. It may provide an enriching experience for a whole class of brokers. |
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. |
Registered Rep.
January 1, 2006
Halah Touryalai |
The Winner's Curse Many advisors independent b/ds recruit have now unrealistic expectations: They want full technical and marketing support, as well as help understanding products and asset managers. |
Registered Rep.
May 1, 2005
Kristen French |
Crunch Time for Independents Small independent financial firms are in the middle of a classic squeeze between soaring costs and falling revenue. |
Registered Rep.
January 17, 2003
Rick Weinberg |
Pru Tells Admin Managers To Dump Books Prudential Securities informed all of its administrative managers at the beginning of the year that if they were also producing brokers, they were no longer going to be paid commissions, according to sources. |
On Wall Street
July 1, 2013
Lorie Konish |
Taking Charge of Your Regulatory Exam Preparation and communication are key to a smooth visit with FINRA. |
Registered Rep.
June 1, 2005
Karen Donovan |
No More Slap on the Wrist Regulators are getting tough and creative on registered reps because they suspect that fines aren't a strong enough deterrent to stop illegal behavior. |
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.
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. |
