A Morgan Stanley advisor sat at his desk a few months ago, reviewing his professional life. During the late 90s boom, he had been trading millions of dollars a day. When, like many reps, he crashed to earth in the boom's aftermath, he had to re...
When the scandal craze that has gripped the securities industry first got its kick in the pants two years ago from Eliot Spitzer and his crew, few in the industry recognized how deep it might go. Sure, some nefarious conflicts of interest would be...
Daniel Yasharel learned his most important lesson about the financial advisory business even before he became a full-fledged member of it. It was 1992, and Yasharel was working as an insurance agent. He'd sold a policy to a client who called him...
A small-town, Midwestern Edward Jones rep is sitting at his desk on a brisk Friday morning in January, checking his messages, returning some emails, preparing for the day's meetings. His assistant comes through on the speakerphone. One of his...
Freedom has its price, the saying goes, and perhaps nowhere is that price more frequently calculated than in the brokerage industry. Year after year, captive financial advisors, dreaming of independence and of the promises of an untethered...
Paul Roye Blasts Revenue Sharing at ICI Conference; Richard Strong and Strong Capital Management Settles
Edward Jones—a firm that hasn’t attracted much regulatory scrutiny over the years—has been under considerable fire of late, thanks mainly to previously undisclosed revenue-sharing arrangements. The company has been loath to make...