The number of Morgan Stanley Dean Witter global financial advisers grew 1,036 over the last 12 months to a record 14,108, according to Robert Scott, the firm’s president and Chief Operating Officer. But Scott said during an investor...

The mutual fund industry is grappling with a declining market as well as potential new competitors. Both issues surfaced at the Investment Company Institute’s Mutual Funds and Investment Management Conference, being held this week in Palm...

Salomon Smith Barney has won two separate arbitrations related to its Capital Accumulation Plan. In Mary Elizabeth Whyte vs. SSB, Whyte claimed that the firm "breached their contract, converted funds and engaged in fraud and deceit in connection...

Merrill Lynch is dividing its sales force of 16,000 retail brokers into three categories: Financial Advisors (formerly called Financial Consultants) for everyday investors with less than $1 million, Wealth Management Advisors serving clients with ...

ON THE FEE SIDE Scott Root Senior Vice President,PaineWebber,San Mateo, Caif. Root started doing managed money about 10 years ago, and now 60% of his business comes from recurring fees. R. Stephen Trudeau Vice President,Senior Financial Consultant...

A study by the SIA on mutual fund portability indicates that more than 90% of mutual funds distributed by top firms are “as portable or more portable than three years ago.” The study’s findings are not surprising to several...

Despite the pervasiveness of online trading, most Web-based financial services have yet to win acceptance among consumers, according to a study by Mercer Management Consulting. The study, which assesses the impact of the Internet throughout the...

Even in this tumultuous market, opportunities are everywhere for brokers who recognize them, according to speakers at the SIA's second annual Financial Adviser conference, being held today and Saturday at the Eden Roc Resort in Miami Beach, Fla...

Merrill Lynch is looking for a few good brokers within its ranks to focus entirely on the firm's ultra-affluent investors--households with $10 million or more to invest. Merrill executives want to expand the firm’s Wealth Management Services...

Salomon Smith Barney on Monday launched two new services for clients with online access--its own account aggregation service (separate from parent Citigroup's “myciti.com") and wireless access. The firm is also preparing to improve its Web...