In this section we present key findings and insights from our survey questions on practice management and operations, including services offered, the most time-consuming activities, professional designations, custody relationships and documentation trends.
Wachovia announced today that CEO and chairman, G. Kennedy “Ken” Thompson had retired, at the Board of Director’s request. Thompson worked 32 years at the bank, and acted as chairman and CEO from 2000 to May 2008.
Richard Zinman, a star Smith Barney broker, and his team left the bank for Credit Suisse on Friday, Business Week reports. Zinman is consistently ranked among the top broker’s in the country in terms of assets under management; he tied for...
WHEN YOUR FIRM BEGINS TO GROW, YOU HAVE TO HIRE MORE STAFF BUT THAT'S NOT ENOUGH. YOU HAVE TO DEVELOP SOLID PROCESSES TO HELP THEM WORK EFFICIENTLY AND EFFECTIVELY. Systems: John Vance knew he needed them and immediately. Three years ago, Vance, a...
California sure lives up to its name as the Golden State: It hogs the list of U.S. counties with the most millionaire households, taking four of the top 10 slots, according to market research house TNS. Topping that list of counties is L.A. County...
Recently, I got a call that startled me. Mr. Reinfeld, this is Congressman Smith's office. Can you hold? The congressman would like to talk to you. I answered. I straightened my tie and closed the game of scrabble on my laptop. Suddenly, I...
Registered Rep: You recently joined Morgan Stanley from Bear Stearns. What do you miss most? Ed Moldaver: The Bear Stearns mentoring program, where I was assigned two kids and met with them bi-weekly. Also, senior managing directors had the use of...
I'd hate to run into Michael Panzner at a cocktail party. Talk about bringing a person down. In his revised and updated book, Financial Armageddon: Protect Your Future From Economic Collapse (Kaplan Publishing), Panzner argues that America and the...
Once upon a time, Ma Bell owned the phones, the U.S. Postal Service delivered all the mail, and for emergencies you sent a Western Union telegram. Then came faxes, email, instant messaging, bulletin boards, chat rooms, blogs, podcasts, WiFi and...
If there is any lesson for advisors in the recent Bear Stearns implosion, it might be this: In times of market crisis it can't hurt to have an exit strategy planned. In fact, I've heard from many advisors at major Wall Street firms that their...
Small-business owners are well aware of today's harsh economic realities. How could they not be? Some companies especially those in real estate and construction are already feeling the pinch of a slowing economy and rising energy and gas costs...
