Last year, Merrill Lynch made the most cuts, lopping off 25%. Edward Jones added the most. Top 10 Firms By Number of RepsAs of January 1 Firm No. Retail RRs No. B/D Offices Merrill Lynch 15,147 744 (5)* Morgan Stanley 13,191 550 (11) Smith Barney...
Schwab Story It boggles my mind that you would think to glorify Charles Schwab by putting him on the August cover of your magazine. It is an insult to your main audience, the retail brokers, who have supported you over the many years. The lipstick...
When the bull market was hot, so were index funds. The Vanguard 500 Index Fund even eclipsed Magellan as the largest mutual fund in the country, and other index funds dominated their actively managed peers as well. Nevertheless, nearly three years...
Morgan Stanley unveiled a new compensation plan for brokers that rewards fee-based business and penalizes transactional business. The plan, announced to brokers in mid-September, takes effect in January 2003. It calls for a 2 percent raise in fee...
When a spouse dies, the law is completely clear. In the U.S., even without a will, the widow or widower automatically gets the assets. Being married is like taking the car pool lane, says Frederick Hertz, an attorney in Oakland, Calif., and author...
Peter Camejo is either a walking contradiction or the kind of broker people could use as investing and corporate responsibility get reacquainted. He's a broker-turned-political candidate who is running for governor of California on seriously the...
Two and a half years of unrelenting declines have certainly made clients worry. Many have pulled out of the market. Others are so frightened they won't even consider doing anything at all unless it's hoarding gold bullion and bottled water. Here...
And now, for something completely different. The VICE Fund yes, this really exists invests largely in alcohol, gambling, tobacco and defense industries. The fund, launched last month by Mutuals.com, a registered investment advisor, has a minimum...
Brokers have seen double-digit drops in pay. So have investment product wholesalers. They suffered an average 18.5 percent drop in compensation last year, according to DGL Consultants. Variable annuities wholesalers fared worst, with a 31.9...
