Charles Schwab & Co. has committed some $5 million dollars to an advertising campaign designed to make investors aware of the multitude of virtues of independent fee-based advisers. The ads, which will run in selected national media throughout...
If justice is indeed a blind date, she sure isn't a cheap one. Especially not in the investment business where individual parties have to pay some costs up front, and can even get hit with a large bill smack dab in the middle of a hearing.This...
Although some brokers complain about the industry's continuing education requirements, others are starting to see a benefit: Rave reviews about improvements in ongoing training are coming from brokers at Prudential, Dean Witter and PaineWebber...
There are more than a few similarities between EVEREN Capital Corp.'s recent purchase of the ailing Dallas-based Principal Financial Securities and its own employee-led buyout of Kemper Securities in 1995. For one, the purchase price, $75 million...
When brokerage firms ask judges to enjoin departing brokers, emotions run high. Like a bitter divorce, the issue involves custody as well as egos. Firms cite theft of trade secrets, confidentiality breaches, violations of non-compete and non...
Tampa, Fla.-based plaintiffs' attorney Jonathan Alpert has filed a total of five "collective actions" in federal district courts against Prudential, Smith Barney, PaineWebber, Raymond James and Sutro, asserting that the firms make a regular...
The NASDR has asked the SEC to approve interim U-4 forms that contain new reporting requirements. As of November, the rule proposal was expected to go into effect this month. Here is a summary of some of the proposed changes.* The new Question 22G...
Salomon Bros. $10 billion merger with Smith Barney is poised to give the new entity a big presence in trading and research, but for retail sales, the merger may mean little more than perhaps better bond prices."I'm told that our fixed-income...
While most firms put at least as much thought into the unveiling of new customer-service technologies as they do their creation, A.G. Edwards has taken a step in the other direction. They have launched their new customer-only Web site with the...
