A.G. Edwards is reducing its workforce through voluntary retirement and attrition because of diminishing revenue, the firm announced today. Yet brokers will not be directly affected by the move, according to producers from the firm. The job cuts...
As Morgan Stanley's earnings continue to plummet, the firm's brokers are doing all they can to weather the market's storm mainly by maintaining their existing client base. "That's what I'm doing," says a Morgan Stanley West Coast-based producer...
Salomon Smith Barney has informed its brokers that it has eliminated bonus payments on annuity trails, Registered Rep. magazine has learned. The announcement on Tuesday by Paul Underwood, the firm’s director of the Private Client Division...
Salomon Smith Barney took another hit today as the Superior Court of the State of California "ordered" publication that the state became the fifth separate class-action lawsuit to be certified against the firm's Capital Accumulation Plan (CAP)...
Merrill Lynch’s well-publicized salary freeze is not as bad as it appears--at least for brokers. Because of Merrill’s new compensation plan that kicks in next month, fee-based brokers are celebrating raises at the same time other...
With the markets soaring this week, brokers across the country are expressing different views as to how they are approaching business. While one Merrill Lynch rep in the South says he’s “looking at this [market rally] as a chance to...
With the markets soaring this week, brokers across the country are expressing different views as to how they are approaching business. While one Merrill Lynch rep in the South says he’s “looking at this [market rally] as a chance to...
Goldman Sachs downgraded Morgan Stanley's stock and recommended more job cuts, but brokers won't be affected, a Morgan Stanley spokesperson says. About 1,800 people have been let go by Morgan Stanley this year, yet none have been brokers. And John...
Like the New York Yankees playing in (if not winning) the World Series, you can count on Edward Jones reps raving about their firm. Jones brokers love their autonomy, and the company's ethics and old-fashioned philosophy. It's a given that we will...
Reps remain generally satisfied with their firms. Our surveyors this year collected good scores and kind words for technology advancements, product innovations and the ubiquitous, but favored, strategy of targeting the wealthy with fee-based...
