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Registered Rep.
February 20, 2009
David A. Geracioti |
No Retention Bonuses For Wachovia Reps; Wachovia Securities To Be Renamed Danny Ludeman, head of Wachovia Securities, told managers earlier today that financial advisors would not receive any retention bonus.   |
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.
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 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.
October 24, 2008
John Churchill |
Merrill Retention Is Adequate for Top Dogs, Scanty for Lower-Tier Producers The long-awaited Merrill Lynch retention package has arrived. Not surprisingly, top producers will probably be pleased, but others may not. |
Registered Rep.
February 23, 2009
Christina Mucciolo |
Morgan, Smith Barney Reps Get Retention Awards, NOT Bonuses Top producers at both firms stand to receive as much as 105 percent of trailing twelve month production to stay with the joint firm. |
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.
April 20, 2009
Christina Mucciolo |
Benjamin Edwards Passes Away at 77 Edwards, 77, was the great-grandson of the company's founder, Albert Gallatin Edwards, and led the former regional for 45 years before retiring in 2001 and assuming the title of chairman emeritus. |
Registered Rep.
April 20, 2009
Christina Mucciolo |
A.G. Edwards Founder Passes Away at 77 Benjamin Edwards III, former chairman, CEO, and president A.G. Edwards, died Monday after a battle with cancer. |
Registered Rep.
November 14, 2008 |
Update: 6,200 Merrill FAs Sign BofA Retention At Deadline Merrill says that only about half of the firm's nearly 17,000 advisors were eligible in the first place, and that they are responsible for about 75 percent of the firm's production. |
Registered Rep.
September 23, 2009
Halah Touryalai |
Client Service (Not Retention) Bonuses for Wells Fargo Advisors Some Wells Fargo Advisors financial advisors are earning their bonus dollars through a client service program. |
On Wall Street
February 1, 2010
Lee Conrad |
Wells Fargo: On the Front Lines of the Culture Wars One of Wells Fargo's task after acquiring Wachovia Securities is integrating advisors from both companies into one sales force and keeping them satisfied. |
Registered Rep.
October 3, 2008
Kristen French |
Wachovia Hooks Up with Wells Fargo; Citi Says Wachovia In Breach Citigroup's deal with Wachovia gets ousted over the new deal with Wells Fargo. Wachovia shareholders and advisors are relieved. |
Registered Rep.
February 27, 2014
Mindy Diamond |
Free Agents Many wirehouse advisors are frustrated with increased bureaucracy and a loss of flexibility. In fact, many say they will leave unless their firms re-up the retention deals. |
Registered Rep.
June 28, 2007
Christina Mucciolo |
Wachovia Securities to Make New Home in St. Louis Federal Antitrust regulators approved Wachovia Corp.'s acquisition of A.G. Edwards. The deal is expected to close in the fourth quarter, most likely in October. |
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 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. |
Registered Rep.
October 27, 2008
John Churchill |
Separate BofA Retention Package Targets Top Half of BofA force Only 50 percent, or roughly 1,000 of the 2,000 Bank of America Investment Services financial advisors, will see a retention bonus. |
Registered Rep.
January 1, 2005 |
I'm A Broker, You're A Broker At most publicly traded national broker/dealers, about 35 percent of employees are called financial advisors. |
Registered Rep.
May 1, 2005 |
60 Seconds With David Monday Wachovia Securities' new Individual Investor Group leader talks about his plans for the new division. |
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.
June 7, 2004
Will Leitch |
A.G. Edwards Signs Tech Deal with Dell A.G. Edwards has struck an outsourcing deal with Dell, under which the computer firm will provide server systems, desktop computers and on-site support to the firm's reps. |
On Wall Street
January 28, 2010
Lee Conrad |
Carrying on a Family Tradition Tad Edwards, son of retired A.G. Edwards CEO Ben Edwards, sets out on his own to recreate his family's financial advising firm. |
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 8, 2010
Jerry Gleeson |
Wells FA Team Bolts for Moneta, an RIA More proof of the breakaway broker phenomenon, albeit anecdotal? Moneta Group has hired two veterans legacy A.G. Edwards advisors, the company said today, amid a nascent national trend of advisors leaving wirehouses for smaller independents. |
Registered Rep.
May 12, 2011
Mindy Diamond |
Golden Handcuffs Loosen Some advisors who signed retention agreements have already begun looking for a way out, but plan to hold off on the switch for a year or two, until they can pocket more of that retention money. |
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.
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. |
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
Kevin Burke |
A.G. Edwards: Quietly, the Leader of the Pack Building on its strong performance from a year ago, A.G. Edwards lit up the scoreboard this year. Advisors say the St. Louis-based firm has a high-quality work environment, commitment to clients and freedom from pushing certain products. |
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.
October 2, 2008 |
Just Say No To Citi? Apparently, not everyone is pleased by the deal in which Citigroup would buy Wachovia Corp.'s bank branches, deposits and private bank -- including a number of high-end Wachovia advisors. |
The Motley Fool
September 21, 2007
Lawrence A. Rothman |
Good Deal, Wachovia! Strong quarterly results from A.G. Edwards reaffirm the wisdom of Wachovia's pending purchase. Investors, take note. |
Registered Rep.
August 17, 2011
Diana Britton |
SAI Sale to Ladenburg Mostly a Positive for Reps--Depends on Retention Packages Ameriprise Financial's sale of Securities America to Ladenburg Thalmann is mostly a positive for the firm's rep base. |
Registered Rep.
August 9, 2010
Susan Konig |
How One BOM Retains Top FAs The dizzying industry turmoil of the last few years has induced wirehouses to offer their top producers some of the largest retention packages ever. |
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.
June 23, 2011
Diana Britton |
Ladenburg Thalmann Possible Buyer in Securities America Sale Ladenburg Thalmann, parent company of Triad Advisors and Investacorp, has emerged as a potential buyer of Securities America, which Ameriprise Financial announced plans to sell in late April. |
Registered Rep.
January 1, 2005
David A. Gaffen |
Wachovia Goes Halvesies Keep it simple. That's the idea behind Wachovia Securities new grid, one that offers a round 50 percent payout to brokers, once they pass a $9,000 production threshold. |
On Wall Street
March 1, 2012
Bill Willis |
Creating A Generation of Deal Junkies The market meltdown of 2008 and mergers of financial firms that followed are beginning to feel like a distant memory. What remains in the present are the retention bonuses paid to a substantial portion of the financial advisor population. |
Registered Rep.
October 22, 2008 |
Wachovia Reports Record $24 Billion Loss, Brokerage Results Weak, But With Bright Spots The massive loss was due primarily to declining values in its retail and small business banking divisions. But the retail brokerage and wealth management units didn't fare so well either. |
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. |
Registered Rep.
September 3, 2015
Mindy Diamond |
Should I Stay or Should I Go? When Stifel Financial announced its intent to acquire Barclays' 180+ advisor wealth management unit, the news sent shockwaves throughout the advisor world. |
Financial Advisor
July 2012
Jeff Schlegel |
Benjamin F. Edwards & Co. Forges Own Path Not many four-year-old firms have a legacy stretching back to the Lincoln administration. |
Registered Rep.
May 2, 2007
Kevin Burke |
It's Not About the Money The firms that have the highest number of satisfied financial advisors aren't necessarily the ones with the highest-paid financial advisors. Industry experts say that what really drives advisors to jump is friction with a supervisor. |
Registered Rep.
October 1, 2002 |
Warm Bodies Brokerages ranked by number of reps. |
Registered Rep.
July 1, 2004 |
Comings & Goings Wachovia Securities names Keith Gregg its new national sales director... Donnie Casey, executive vice president and director of staff at A.G. Edwards, has announced her retirement... etc. |
Registered Rep.
August 1, 2006
Kristen French |
The More Things Change Despite the big push for millionaire clients throughout the industry in recent years, average annual revenue per financial advisor for all firms has remained relatively constant. |
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. |
On Wall Street
March 1, 2010
Helen Kearney |
Compensation 2010 Your definitive guide to the changes in advisor compensation across the industry. |
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. |
