Despite the pervasiveness of online trading, most Web-based financial services have yet to win acceptance among consumers, according to a study by Mercer Management Consulting. The study, which assesses the impact of the Internet throughout the...
Even in this tumultuous market, opportunities are everywhere for brokers who recognize them, according to speakers at the SIA's second annual Financial Adviser conference, being held today and Saturday at the Eden Roc Resort in Miami Beach, Fla...
ON THE FEE SIDE Scott Root Senior Vice President, PaineWebber, San Mateo, Caif. Root started doing managed money about 10 years ago, and now 60% of his business comes from recurring fees. R. Stephen Trudeau Vice President, Senior Financial...
Merrill Lynch is looking for a few good brokers within its ranks to focus entirely on the firm's ultra-affluent investors--households with $10 million or more to invest. Merrill executives want to expand the firm’s Wealth Management Services...
Merrill Lynch has introduced a new trainee compensation package to go along with its revamped training program that was expanded to five years (see November 2000 RR, Page 30). On Jan. 1, the new Paths of Achievement (POA) program replaced Merrill...
The NAIP is the only organization that has continually monitored topics such as qualified immunity, arbitration and TROs. Your cause is a noble one, but I give up 66% of the fees I make to mother Merrill to watch my back. I will trust their...
The back office problems at First Union Securities are improving, according to the firm. Last July, First Union instituted $50 fines for departments that do not respond to brokers promptly. But during a 75-day span from late November to the end of...
Broker Richard Patenaude likes to reach out. That's why he said yes to a four-year commitment to mentor Christian Kennedy, helping him grow from humble high school freshman to confident senior. Patenaude's branch manager at Salomon Smith Barney in...
Imagine spending $9,000 for a series of seminars and getting a return of $20 million in assets. That's exactly what happened to a South Carolina-based Merrill Lynch broker. He used Seminar Success, a marketing package designed for brokers by...
You've heard the debate on fees versus commissions. You may have your own thoughts about which is better for clients, for building trust, for creating consistency in revenues, etc. (see Fees Versus Commissions, Page 64). But this whole discussion...
