Opponents of Salomon Smith Barney's CAP plan, a deferred compensation plan that requires employees to contribute wages through payroll deductions to purchase restricted shares of company stock, have been shot down repeatedly in their attempts to...
Badges? We ain't got no badges. We don't need no badges. I don't have to show you any stinking badges. So go the famous lines from The Treasure of the Sierra Madre, the 1948 Humphrey Bogart movie. This might as well be a quote from the NASD these...
Wachovia Securities wants advisors to know where their clients want to be, not just where they are now. The firm plans early this year to unveil a new software package for its advisors to help clients figure out their retirement goals and the...
Mario Lamar and Carlos Bonzon, a large wealth management team, recently left Morgan Stanley in Miami for Salomon Smith Barney's Park Avenue office in New York. The two had been employed at Morgan Stanley from 1999 to late October of 2002. Jamie...
During the 1990's bull market, many dismissed bonds as plodding investment vehicles that only produced single-digit returns. But when hotshot stocks sputtered, those pedestrian bonds pressed forward. Today, the value of a fixed-income allocation...
During trying times like these, many reps are looking to switch jobs. When pondering a move, no question occupies more time or discussion between brokers, hiring managers and (sometimes) recruiters than the following: What's in it for me? This...
In a downturn, some firms scramble to get out of the business. Case in point: The sale of CIBC Oppenheimer's retail brokerage and asset management business to New York-based Fahnestock Viner Holdings, for $257 million. Some industry executives...
Last year at this time, our reporters and editors scanned the horizon, looking for what lay ahead for our readers. After countless interviews with brokers, investment advisors, money managers, sales coaches, market researchers, consultants and...
The separately managed account revolution might well be sweeping the financial services industry transforming sales-junkie brokers into fee-based financial consultants with the knowledge to design and implement financial plans for a client over...
