Like Schwab and other discount brokerages, Quick & Reilly is transforming itself into a wealth management company. But for CEO Donald Froude, it hasn't been easy.
On one side is a growing group of WorldCom employee-shareholders, who are looking for more than $35 million that they claim was lost because of improper handling of their brokerage accounts. On the other side is Salomon Smith Barney, a major...
When the brokerage business was simpler, it was common for us to find that a key problem for poorly performing brokers was their inability to stay focused. However, the complexities of the fee-based advisory brokerage model can make even top...