Here are 22 pointers from recruiters, indie firm execs and brokers on how to research an independent broker/dealer.1) Make a list and check it twice. "Make a checklist of the issues that are important to you," says Mitch Vigeveno, a recruiter who...
Morgan Stanley Dean Witter is requiring rookie reps to do five financial plans a year in order to meet career targets.Brokers say there is no actual quota, but that selling the firm's Financial Outlook plan is one goal new reps are supposed to...
To appeal to a broader market, Lockwood Financial has introduced individually managed accounts with a 25,000 dollar minimum investment."We're offering this so the adviser has something for the smaller account," says Len Reinhart, CEO of Lockwood...
Prudential Securities has moved its divisional management to New York, with the goal of better coordinating its strategies and improving communications among divisions.Thomas Owens, formerly from Dallas, is heading Prudential's Western region...
Charles Faig, Prudential Securities, Short Hills, N.J.When a new manager took over the Prudential Securities branch in Short Hills, N.J., Charles Faig's business began to soar."This is not a knock on the old manager because he was very good to me...
Clients can be happily married and still disagree about their investments. Here's how to "broker" the conflicts.Tim is an aggressive investor. He wants high-risk, high-return stocks, tech stocks and dot-com stocks. He dreams of earning 23 percent...
Candace Rey, First Union Securities, Burlington, N.C.When Candace Rey was in Hawaii with First Union Securities' Chairman's Circle this past year, she ran into some co-workers from her former employer. To say the least, they were stunned."They...
Even though Congress ordered the General Accounting Office (GAO) to look into high mutual fund fees and profits, no one yet can say exactly how lucrative the mutual fund business is.A GAO report released in July cites data from Strategic Insight...
The production plateau--it's an unpleasant place most brokers experience at some point in their careers. So there are lessons to learn from those who have struggled off flat land.Meet four brokers who broke through the frustration to double, even...
In the face of rising redemption rates, the mutual fund industry is worried about shortened holding periods. Yet fund researchers say fund holding patterns haven't budged from historical norms.A few years ago, the annual redemption rate was 10...
