Dain Rauscher is teaming up with Detroit-based Comerica, a national bank and trust company, to launch a new trust and estate service. The venture will establish dedicated offices around the country.Beginning this month, brokers will start a...
Limit order handling rules passed in the wake of the Nasdaq price collusion scandal have been widely ignored, according to the SEC.Based on exams conducted over the past three years, the SEC found that most market makers and SROs have no audit...
Merrill Lynch has pulled out of the retail securities business in Puerto Rico. The firm sold its branch operations and client lists to Santander Securities Corp. in late February for 15 million dollars. It said that its investment was not paying...
Stephen Moulton, Fien Moulton & Associates, Pittsford, N.Y.Stephen Moulton sums up his 10 years in brokerage this way: "I was a misfit in a sales-driven culture."Moulton began to chart an unconventional course soon after he joined EF Hutton in the...
The supposed "merger mania" among independent advisory firms is not nearly as prevalent as it is perceived to be, according to a study by Tiburon Strategic Advisors, a Tiburon, Calif., consulting firm.The 102-page research report, released in May...
Pro Football Hall of Famer John Hannah, a broker with First Union Securities, replaced the thrill of sports with the excitement of the stock market.His face once graced the cover of Sports Illustrated accompanied with the headline, "The Best...
During his Hall of Fame career as a linebacker, Willie Lanier dealt with complex offenses. Now as a First Union Securities rep, he deals with quite a mix of financial services.Willie Lanier played professional football in the '60s and '70s, but...
Terry Puhl was a productive hitter and outfielder with the Houston Astros. He's now a productive broker for local firm Sanders Morris Harris.Terry Puhl learned an important lesson about success during his 15 years as a major league baseball...
Some wirehouse proprietary funds are still stuck in the mud. Portability agreements between the major firms are limited to a handful of deals despite SEC pressure to make such products transferable.A Morgan Stanley Dean Witter spokesperson says...
Whenever Louis Masry's phone rings, it could be another client headed to the hospital. Not long ago, Masry and his associate, Annaliese Blinn, stood by the bedside of a client who'd just had a tumor removed from his face so large that surgeons had...
