Brokers are bitter—and for good reason. Since the sub-prime slaughter began this summer, many of those at Merrill Lynch, Smith Barney, Morgan Stanley and the other wirehouse firms, have seen their net worth, tied up largely in deferred stock...
San Antonio -- "The volatility is the killer," bemoaned a frustrated Russell. "I know I should be calling my clients, but everybody is in a panic and they're calling me. I feel like I'm spending most of my time trying to talk my clients down from...
As if banks needed any more bad press: Wachovia Corp. is in the hot seat for shady deals it allegedly had doing business with telemarketers accused of stealing hundred of millions of dollars.
Actively managed ETFs are ready to hit the market. Industry executives and regulators have been talking about this moment for years, as low-cost, tax-efficient passive ETFs surged in popularity. But it’s looking like final approval for the...
Morgan Stanley announced plans this week to sell its Spanish brokerage- and asset- management business to La Caixa, a Spanish financial-services firm, for $885 million
A financial advisor we know recently left his big brokerage firm to go independent completely independent, as in setting up his own registered investment advisory firm. How is the technology search going? we asked him. It's kind of a baffler, he...
It has been an embarrassing time for most big Wall Street banks. In the third quarter of 2007, NYSE-reporting firms posted their worst quarterly performance on record, collectively amassing $3.8 billion in losses. Of course, their balance sheets...
THIS MONTH'S CONTEST BRAINTEASER #1: RED BULL DELIVERY A brokerage has to deliver 3,000 cans of Red Bull to desperate colleagues in a retail office exactly 1,000 miles away. The firm hires a driver to transport the Red Bull; the driver can carry...
