The Royal Bank of Canada on Wednesday announced it would acquire Tucker Anthony Sutro and merge it into RBC’s Dain Rauscher unit. “We’re not happy about losing the [Tucker Anthony Sutro] name or about the dollar valuation that...
The boards of directors of the Investment Management Consultants Association (IMCA) and the Institute for Certified Investment Management Consultants (ICIMC) have endorsed a proposal to consolidate the two organizations, the groups announced on...
The use of noncompetition and nonsolicitation agreements is pervasive in the securities industry. These agreements can be the legal equivalent of a ball and chain around a broker's leg, preventing him from exercising the freedom to earn a living...
A.G. Edwards does not sell or share personal information with non-A.G. Edwards companies for the purpose of marketing their products or services. That bold-lettered statement, contained in A.G. Edward's privacy statement to clients, seems clear...
Details about Merrill Lynch's upcoming new compensation package are beginning to trickle down through the branch system, and most brokers are thrilled about what they're hearing. This is going to be a huge pay raise for us, says an East Coast...
In late May, adviser search links appeared on both CBSMarketWatch.com and Morningstar.com, heralding the launch of matchmaking service InvestorTree.com of Bronxville, N.Y. At the moment, the links are not easy to spot. On the CBS home page, users...
What's my book worth? That's a question we hear a lot. As we report in What's Your Book Worth? Page 44, independent practices generally sell for one to two times revenue. But as an employee-broker, you have no equity in your book. Most firms offer...
As noted in my May 2001 column, benchmarking is used by companies throughout the world to match their performance to the best firms when it comes to critical aspects of operations. This month, it's our turn to do some benchmarking as we search for...
For many Americans, the Iranian Hostage Crisis brings back images of blindfolded hostages on the TV news. But Kevin Hermening, a registered rep and fee-based planner with First Financial Planners in Wausau, Wis., remembers the gut-wrenching...
I have always been an advocate of conducting frequent meetings with my team. And I have always believed that every process can benefit from constant improvement. So it seemed to me that my meeting format was due for an overhaul. I was extremely...
