Fee-based discretionary portfolio management began with a handful of brokers in the late 1970s, but the approach was an oddity. Back then, who would want to do stock business any other way than get a commission for a great idea? Today, every...
Brad Frederickson hit the production wall four years into the business. He had fulfilled a childhood dream to pick stocks for a living and it felt pretty good to be a $500,000 producer. Until he stayed there the next year. And the next.I found I...
Edmund Finder, Salomon Smith BarneyPicture a veranda overlooking the ocean with a 20-foot polished mahogany desktop supported by driftwood. On the desk are two television sets, a laptop computer, a fax machine and two phones. Just 10 steps away is...
In a Feb. 1 filing with the SEC, the NASD is proposing that member firms be required to provide brokers with an arbitration disclosure statement. The statement would be provided whenever a rep signs a new or amended U-4, and would explicitly point...
If you think that potential clients obtain a list of brokers, devise a slate of questions and go on a round of interviews, think again.The reality of how clients hook up with brokers is much more disorganized. They bump into brokers on planes...
A majority of consumers saw 1998s market drop as an opportunity to buy, according to a December 1998 survey by Boston-based Dalbar. Fifty-nine percent saw the drop as an opportunity--a dramatic reversal of earlier Dalbar studies that showed...
For the first two weeks in August, the Central Registration Depository (CRD) will shut down to allow conversion to a new Internet-based system. The result: Brokers changing firms at that time could experience registration delays.According to Derek...
What is the biggest identifiable problem producers ask about when they walk through your door?Saenz: How do I get control? I speak in front of a lot of top producers at a lot of firms, and its astounding how many producers out there feel the same...
Traders die broke. Cut your losses, and let your winners run. Trees dont grow to the sky. Bears get fat and bulls get fat, but hogs get slaughtered.No matter what happens on Wall Street, there has always been a bull market in axioms of investing...
Instead of servicing hundreds of accounts, brokers who embrace technology will soon be servicing thousands--a shift that could drastically reduce the broker workforce, and dramatically reduce costs for firms, said several speakers at the...
