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Contesting arbitrations is often a smart move especially for reps who believe they were unjustly accused or that the settlement demanded by the customer is excessive. At the same time, the case doesn't necessarily end with the issuance of an award...
When Smith Barney and Legg Mason announced a deal to swap the wirehouse's asset-management business for Legg's brokerage unit, a lot of Legg reps saw an ugly storm brewing. Some made calls to recruiters and began to prepare for a move they wish...
Q: I just opened an account for a new client who said he had lost a lot of money with another firm. The ACAT (automated customer account transfer) delivered securities purchased at the earlier firm. In reviewing the client's monthly statements it...
Who would have thought that a piece of regulatory paperwork could rank among an advisor's best friends? But it's true. The piece of paperwork in question is the client account form. It's important because the financial services industry relies on...
Five years ago, Dave was a rookie rep in a UBS training class, but the former muni-bond trader could easily have been mistaken for an instructor. At 43 years old, Dave (not his real name) was an anomaly at the time an experienced businessman...
The House of Representatives has approved a bill that would stiffen rules governing the way mutual funds, high-cost loans and other financial products are marketed to military personnel. The House bill, called the Military Personnel Financial...
Eight years ago, Jed Schlanger got an inspiration: to focus on small business owners whose companies produced tangible goods. I felt I'd get a vicarious thrill from working with people who made something real, he says. So, Schlanger, who heads The...
The industry's focus on high-net-worth clients has been a boon to many advisors, but the high energy focus required to succeed in the high-net-worth game is not always easy to sustain. An advisor I know named Marsha admitted: Sometimes I wonder if...
The pioneering ways of registered investment advisors (RIAs) are coming back to bite them, according to a report from Cerulli Associates. Once on the cutting edge of financial planning and fee-based client relationships, RIAs are now just one of a...
