UBS PaineWebber will charge brokers two times gross commissions when clients sell newly issued stock within 40 trading days, provided the stock hasn't moved up or down by 10%, the firm announced July 27 when the policy was implemented. It's very...
A relatively simple function that should be on every money manager's service offering is stock-blocking. In the past several years, as retail individually managed account (IMA) programs have taken off, money managers have rolled up their corporate...
The 529 plan's ability to accrue and distribute free of taxes is possibly the best game in town for any taxpayer. The new tax laws have made 529 accounts more attractive as estate planning devices. You all know that contributions to a 529 account...
In June, Prudential Securities relaunched its Web site for the second time this year, with a new URL, www.prufn.com. The site is now called Prudential Financial Network. (The old URL will still get you there.) Meanwhile, PaineWebber made several...
Four top-producing teams and brokers share techniques for building a high-level business. All of these big hitters have a system for getting exposure and attracting clients. Read their ideas on how to pare accounts, service clients and deal with...
Oddlots Random samplings of news affecting the estate planning industry Compiled by Christopher Weems, Associate Editor Send an e-mail with your news item Metavante to Purchase Brokat Technologies' U.S. Internet Banking and Brokerage Assets...
Fifty-nine percent of American adults don’t have a will, according to a survey by the legal Web site, FindLaw (www.findlaw.com). The survey found that people are more likely to have a will as they get older. Only 11% of people between the...
Be Cautious About "Stretch IRAs": NASD Regulation NASD Regulation, Inc., has issued an Investor Alert that cautions investors about "stretch IRAs," a new kind of account allowed by recent changes in IRS rules. They are often billed as "estate...
Yesterday the SEC turned down a request from the Investment Company Institute (ICI) to regulate folio products as mutual funds. Sponsors of folios--which are ready-made baskets of stocks individually owned by investors--operate as broker/dealers...
