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.
In the week following the implosion of Brookstreet Securities, a disaster caused by massive margins calls on highly leveraged CMO derivative investments held for the firm's clients, the firm's brokers were inundated with calls from independent...
The securities industry has been doing an awful lot of hiring lately. June 2007 saw an increase of over 10,000 new jobs in the industry the biggest increase since June 2000, according to Brokerhunter.com. Most notably, this sets a new record for...
Michael McNamara, McNamara Financial Services Firm: Commonwealth Financial Network City: Marshfield, Mass. Established: 1987 AUM: $306 million Number of Clients: 500 Education: Tufts, Boston College After graduating from college, putting in three...
Lincoln Financial Group's chairman and CEO, Jon A. Boscia, has announced his retirement from the company effective Sept. 1, 2007. The company's board of directors has elected J. Patrick Barrett chairman of the board, and named current president...
Stephan Cassaday, Cassaday & Company Firm: Royal Alliance City: McLean, VA Established: 1993 AUM: $263 million Number of Clients: 265 Education: Radford University One week before his departure from Prudential in 1993, Stephan Cassaday's branch...
Trudy Haussmann, Haussmann Financial Inc. Firm: Securities America City: Newport Beach, Calif. Established: 1990 AUM: $465 million Number of Clients: 1,500 Education: UCLA Trudy Haussmann got no respect during her first year as an independent...
For top-producing wirehouse advisors in mid-sized cities (say Baltimore, Maryland or Salt Lake City, Utah), the career-change opportunities can sometimes seem limited. But a growing number of these advisors are taking a new route: creating...
Registered Rep.: Strangest request you ever received from a client? Helene Robertson: In 1982, a retired schoolteacher asked me to find a mutual fund that had no weapons manufacturers in it. We went through every individual stock in every fund we...
Creating lists such as this can be a notoriously capricious business. For starters, why only 10 people? Good question. But it forces a silly answer: The number 10 is a good number simple as that. Yes, it's somewhat arbitrary, but the object is to...
So maybe his reputation wasn’t so damaged after all—or maybe it’s just made a comeback. The former Merrill Lynch sales manager who sued Hydie Sumner and her lawyer Linda Friedman in September of 2006 on grounds that the women...
