Dow Jones' "scoop" about how Merrill Lynch will begin firing aging financial advisors who don't produce at least $250,000 isn't a scoop at all. It's called the "penalty box" and most firms have such a thing. Wall Street has always operated on the...
So we read a Reuters story about how the CEO of Wells Fargo said that he would be open to acquiring another b/d. Gosh, Wells Fargo is still trying to digest the Wachovia and A.G. Edwards acquistions. Our annual Broker Report Card survey found that...
The headlines today describe how the liberal wing of the Democratic party is apoplectic over Obama's tax compromise. Why? As we reported yesterday, The Tax Policy Center says that 99.8 percent of deaths trigger no estate tax liability. In short...
James Gorman, CEO of Morgan Stanley, made a speech recently where he crticized the "hero" culture that runs rampant among institutional traders and investment bankers. (Not to worry; he wasn't criticizing the ridiculous recruiting packages doled...
Our Broker Report Card Survey has turned 20 years old with the publication of the report online today. Twenty years is a long time, which is why we still use the archaic name “broker” — out of respect for tradition. ...
When you meet with a husband and wife to discuss their retirement plans, do you only look at the guy? I mean you must figure the woman doesn't know a thing about investing, right? Or perhaps doesn't care? After all, women are from Venus and men...
Our sister publication, Trusts & Estates magazine, writes that giving by HNW individuals is the heart and soul of philanthropic activity in the United States. Alas (but not unsurprisingly), that figure dropped in 2009. What happened? Can you guess...
Would you buy shares in a financial company that trades at about 40 times trailing earnings (based on Q3 numbers) and boasts (if that’s the right word) a net profit margin of not even 2 percent? That’s rich. Oh, and none of the proceeds will go to...
