Prudential Securities has begun a firm-wide campaign to ax under-producing brokers, according to several Prudential sources. Perhaps as many as 300 reps may be dismissed over the next few months.
Merrill Lynch has issued to all of its brokers a memo that contains "talking points" to address potential questions and concerns from clients on the investigation of its research practices by New York’s...
Investor concern about financial planning has increased since September 11, according to a Financial Planning Association (FPA) survey. Some 53 percent of those surveyed said the terrorist attacks increased the...
In an effort to cut costs, Merrill Lynch, Morgan Stanley and other Wall Street firms have slashed around 43,300 employees since the market tanked, marking the biggest employment cuts in more than a quarter-century.
Following a wirehouse trend of becoming a more complete full-service firm with a range of programs, UBS PaineWebber has formed a mortgage unit for wealthy clients. The move follows a pattern started by competitors...
Now that Merrill Lynch has been slapped with a $3 million judgment in a case that claims, in essence, "financial malpractice," other Wall Street firms fear they could be next in the firing line, according to sources.
