Merrill Lynch has formed a new business unit within its U.S. Private Client group. The new unit is called the Multicultural and Diversified Business Development group. It was formed to help establish Merrill’s...
Merrill Lynch’s focus on building its Private Wealth Management division has taken a giant leap forward. Private Wealth Management, which caters to high net worth clients with $10 million or more in assets, just...
Charles Schwab acquired $3.6 billion in new client assets in January, but it was its lowest level in nine months, according to the company’s monthly report, which was announced today. It was also the seventh...
Merrill Lynch CEO David Komansky said that he plans to step down from the top job at the firm before retiring in 2004, a move that will allow President Stanley O'Neal to take full control of the company. Komansky made...
For years, Merrill Lynch, UBS PaineWebber, Salomon Smith Barney and Prudential Securities have waged a fierce war in the battle to snag multi-million producers. Now they have some additional competition in—...
First Union Securities will announce Wednesday that it has been renamed Wachovia Securities, Registered Rep. magazine has learned. The name change is effective May 2002. This is the fourth name change in the past 10...
Good news for brokers planning to change jobs: Their employers can no longer freeze the accounts of clients who want to follow them to their new firm. The bad news, however, is that defectors still face landmines when...
When Bonnie Raitt and Jackson Browne blow through Seattle to perform at a downtown nightclub or charity event, First Union Securities rep Joel Tepp often shows up. Onstage. Over the years, Tepp has backed up rock...
Fee-based business at retail brokerage firms is booming. The percentage of retail brokerage firms moving from per-trade commissions into new fee-based arrangements has almost doubled in the past two years, going from...
Saying that the anthrax scare has caused an increase in bio-hazard-type “investment scams,” the SEC secretly launched a Web site designed to warn investors about stock market scams. The Website, www...
