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Hydie Sumner is on the cusp of winning a battle many think she was crazy for waging. Sumner, a former broker who successfully sued Merrill Lynch for sexual discrimination, has been trying for seven years to reacquire her job at the firm. Now an...
Unless you're superhuman, chances are good that some aspect of your practice is in need of tweaking. We're here to help. This new column will take challenges confronting real-life advisors and place them in front of a panel of experts who will...
Registered investment advisors continue to take home fatter paychecks than their counterparts at regionals and wirehouses, even after factoring in the RIAs' higher overhead. According to research from Moss Adams, RIAs with a $1 million practice on...
Henry Ford famously offered to deliver his Model T in any color, so long as it was black. Customers in the securities industry have roughly the same amount of choice when it comes to settling disputes it's arbitration or nothing. This is...
A decade ago, when Doug Nani was a rookie rep at Legg Mason Wood Walker in Providence, R.I., the firm started a merchant banking division. Little did Nani know that the move would end up providing him with a lucrative way to supplement his...
Perhaps you've encountered a situation like this: A client loses money in his account but the performance report he receives shows a positive return. The client is understandably perplexed by this and requests an explanation. After kicking around...
By now, financial advisors know the drill. They are supposed to be evolving into wealth managers. This upgrade helps advisors better connect with existing clients, attracts more high-net-worth prospects and improves profitability by broadening the...
ON ITS WEB SITE, THE NASD SAYS THE HEART OF ITS MISSION IS TO ENFORCE SECURITIES LAWS IN A VIGOROUS, FAIR AND EFFECTIVE MANNER. ASK ANY BROKER/DEALER EXECUTIVE OR COMPLIANCE CHIEF AND THEY WOULD LIKELY GROAN, VIGOROUS, YES, BUT FAIR? Executives of...
IT TOOK SOME TIME, but the brokerage industry finally is coming to terms with the death in the family. In this case, the dear departed is a way of operating that is now gone for good. Like any mourner, the industry has collectively gone through...
Surveying the financial services landscape back in April 1998, Raymond Mason, CEO of Legg Mason, told Barron's how he saw the future: I have believed that there are three businesses over the next ten years that all financial-services companies...