News

Former SSB Broker on Grubman, IPO Allocations and the "Telecom Mafia"

Wealthy clients are becoming more savvy about investment opportunities, and that’s leading to a more collaborative relationship between them and their advisors, according to a Spectrem Group study.

 

When account aggregation was first introduced four years ago, many brokers were ecstatic. With the new technology, clients could view all their account information via a single website. But interest is still low, according to a Spectrem Group report.

Investors of late have been more impressed by regional brokerage firms, which they feel are providing better services than most industry giants, according to J.D. Power and Associates’ first Full-Service Investor Satisfaction Study.

It’s official: 2001 stunk, with average total earnings plummeting by 17.7 percent in 2001 compared to 2000. But, on the bright side, more reps are switching to the much-extolled fee-based business model.

SSB’s Grubman Tells House Committee that He Had No Knowledge of WorldCom Fraud “Saddened†that Investors Lost Money.

Faced with first quarter results well below expectations, continued weak economic conditions and withering investor confidence, the Securities Industry Association lowered second-quarter and full-year profit estimates and forecast more layoffs.

he NASD has launched a new Web-based tool to help brokers identify terrorists and avoid doing business with potential money launderers, the firm says.

The number of wealthy women is growing globally and is "destined to rise" even further, according to a Merrill Lynch study.