American Express Financial Advisors (AEFA) is hoping to become more competitive in the independent contractor arena by letting reps choose among several new work options.The new career platforms, scheduled to be unveiled later this year, will...
A 20-something construction worker walked into Jeff Young's office with the idea of starting an investment plan. But in the course of collecting basic personal information, Young soon learned that the man--a referral--had a child out of wedlock...
1) Delegate.Loosen up and don't be afraid to share the load. But make sure you know whom you are entrusting. "Financial consultants should take the time to get to know their sales assistant, new accounts clerk, operations staff and even the...
On April 19, Citigroup quietly let it be known--with a one-liner in its first quarter earnings report--that "Salomon Smith Barney plans to roll out online trading capabilities later this year." That was the first indication that SSB would join...
Do you find yourself daydreaming about spending the day golfing, walking along the ocean or traveling to Europe on a whim? Such mental wanderings are an indication that it may be time for you to ride off into the sunset after years of hard work...
Following Merrill Lynch's lead, Salomon Smith Barney has become the second major retail firm to offer free research to nonclients as a prospecting tool via a new Web site called www.smithbarneyresearch.com, announced in late March.Brad Rubin, an...
Merrill Lynch's June announcement that it would be slashing pricing on fee accounts, starting a discount business and offering unlimited online trading to fee and discount customers has the industry buzzing about the future of full service. But...
Operational complaints now lead the list of complaints the SEC gets from investors about broker/dealers--surpassing sales practice-related problems for the first time ever."This is not surprising in a bull market," says Nancy Smith, director of...
Two years ago, 40-year veteran broker Alan Lertzman was approached by Bob Harden, principal of Silicon Valley Capital Management in Palo Alto, Calif., to join the money management firm. The timing was right since Lertzman, a rep with D.E. Frey in...
In early April, brokers at Salomon Smith Barney got a wire telling them that a new "employee handbook" was available on the firm's intranet, replacing the interim handbook that went out a little more than a year earlier. This time, "we didn't get...