North Carolina broker Phil Taylor won a moral victory in arbitration--albeit a "shallow" one, he says. In December, an NASDR arbitration panel agreed that his former firm, Edward Jones, defamed him when it sent derogatory letters to some of his...
The major firms are rolling out a long list of automated functions that seem promising for reps and clients alike. Coming up are:* Better online account statements that incorporate either delayed or real-time quotes;* Software tools that allow...
After facing a threatened member-firm revolt, the NASD last month changed the terms of its proposed Nasdaq spin-off via a private placement. Smaller NASD members now stand to get a 25 percent or larger stake in the market. They will also vote on...
His life is like a history book, having spanned 17 presidents, the sinking of the Titanic and the first radio broadcast.And yet C. Howard Wilkins Sr., a 91-year-old Prudential Securities rep in Wichita, Kan., continues to work five days a week.In...
In a move that goes against the grain of broker compensation trends, Philadelphia-based regional Janney Montgomery Scott has increased payouts on agency stock business and managed accounts.Beginning this past month, payouts jumped from 37 percent...
Canadian securities regulators released a long-anticipated proposal to create a uniform standard for financial planners.The proposal, floated in late December, aims at eliminating confusion among consumers by creating a competency test for all...
Prudential Investments Advisory Group's (PIAG) Advisor 2000, a marketing and training program for independent advisers, is being made available to Prudential brokers.PIAG provides outside advisers access to Prudential Investments' products...
The controversy over Salomon Smith Barney's Capital Appreciation Plan (CAP) is heating up.Four class-action suits have been served against the firm; the latest is a Jan. 4 filing in Florida. Former SSB reps have also filed in California, New...
Gathering assets and delivering advice for a fee are what count, and firms are rewarding brokers accordingly. Prudential Securities is a good case in point, instituting this year a higher payout for fee-based business. Last year, Merrill Lynch and...
Registered reps wanting to do advisory business get a bit of a break beginning this year with the rollout of a revamped Series 66 exam.The redesigned Series 66 has been dubbed "65 Lite" and is for Series 7 reps who want to add investment adviser...
