With the phase-in of its new computer system within the past two years, Edward Jones has increased the monthly cost of technology for reps to $1,300 from $900, Jones reps report. An additional $1,000 monthly cost is absorbed by the firm, according...
Companies like mine will have to compete through global brand names--much like Coke and Pepsi now compete.--Philip Purcell, Morgan Stanley Dean Witter CEOIf youre thirsty, youre never far from a can of Coke--whether you live in Chicago, London...
In a ruling that tests the limits of the know your customer rule, the Texas Supreme Court found that a broker isnt responsible for deciding whether a client is competent to make financial decisions. The unanimous opinion overturned a $2.3 million...
By the end of 1998, Merrill Lynch and Prudential Securities will be ready to launch Web-based trading for some of their retail clients, and PaineWebber will be at the pilot stage, if not beyond that.When it comes to the firms making greater use of...
For the second time in a year, Bank of America's brokerage unit, BA Investment Services, is experimenting with a new compensation plan for its 500-plus brokers in the Western United States. Called a "structured program" by company officials at the...
The NASDR in late March began making basic employment and licensing information about brokers available over its Web site (http://www.nasdr.com/2000.htm).Despite some press reports to the contrary, the information given is bare bones: the broker&...