Many former Prudential advisors have reached a tipping point in their relationship with their new firm, Wachovia Securities. They are dissatisfied with Wachovia's approach to technology and worry about forthcoming changes in the compensation grid...
There is no law that says brokers have to be more specialized or more educated to be a success in the industry. The business hasn't and won't change its bottom line: Buy Low, Sell High.-John Barnett, Shearson Loeb Rhoades, Nov./Dec. 1979
When a securities firm is in the process of merging with another, the knee-jerk response of many reps is to scramble for the exit. Strangely enough, this hasty reaction often is a smart one. No matter how smoothly they are handled by the involved...
In September, confidence levels rose among advisors for the firs time in three months, according to Advisor Benchmarking, a Rockville, Md.-based research center focused on the RIA marketplace. The Advisor Confidence Index gauges advisors' short...
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 a chunk of UBS stock. The expiration of this program, coupled with some...
Ric Edelman, who runs Fairfax, Va.-based financial advisory firm Edelman Financial Services, received a call a while ago from a prospective client, who wanted to set up an appointment to talk about planning for his retirement. Fine, Edelman said...
With more advisors chasing high-net-worth clients, family offices have officially entered buyer's market territory, which is bad news for those who dislike tending to the nonfinancial demands of ultrawealthy clients. One of the earmarks of a...
Few firms have had it worse recently than Charles Schwab & Co. An identity crisis sits at the heart of the firm's current troubles. Under former CEO David Pottruck, the firm looked to extend its discount-brokerage roots and tap the wealth...
Credit Suisse First Boston continues to shed brokers. David Fenning and his partner, Chris Conroy, based in New York, moved over to UBS on Sept. 24, working at UBS' Sixth Avenue office in Manhattan; the two are million-dollar producers, according...
