Tracy Herman

This past November, the SEC proposed an industry-supported rule to exempt broker/dealers from being subject to investment adviser rules when using nondiscretionary fee accounts. The exemption would apply as long as...

Twenty years ago, on his second day as a broker, Brian Tremain came out of the closet. He was working for Merrill Lynch in Detroit.Years later, in 1988, Tremain moved to Prudential Securities, finding the firm ...

As 77 million baby boomers have moved through life, they have made their economic mark--from baby food and toy sales to a huge labor supply and inflated housing prices. They also created an echo boom, producing 72...

Prudential Securities is revising branch manager compensation to encourage fee-based business.With a targeted July rollout, the new pay plan will move some expenses down to the branch level that were previously...

Gathering assets and delivering advice for a fee are what count, and firms are rewarding brokers accordingly. Prudential Securities is a good case in point, instituting this year a higher payout for fee-based business...

The stereotypical CPA is trustworthy, conservative, knowledgeable about taxes and good with numbers. Sounds like the qualities needed in a good investment adviser. Clients think so. They have been demanding investment...

Brokers report that a few anxious clients have actually pulled money out of the market--and out of banks--in anticipation of Y2K problems. Others are simply concerned about operational snafus and are holding off on...

A new player is emerging in the financial services industry. Several "consolidator" firms are buying up independent financial advisers and promising to deliver some of the efficiencies and camaraderie of a traditional...