Shortly, Treasury Secretary Paulson and President Bush will announce their plan to freeze sub-prime loan rate “resets.” Is it any wonder why we like to call Democrats and Republicans, “Remocrats” and “Depub
You may have heard by now that there is a talent-squeeze in the wealth-management business. In fact, one quarter of recruitment openings for wealth managers could not be filled during the past year
The punches keep on coming for some of Wall Street’s biggest firms. A handful of firms were sent subpoenas late this summer courtesy of New York State Attorney General Andrew Cuomo
John Thain wasted no time calling on his friends during his first week on the job as the head of Merrill Lynch. The former NYSE Euronext CEO, Thain was appointed CEO
Frank Bluestein is reportedly under investigation, and is no longer registered with FINRA, but media reports suggest he continues to hawk investment advice under a new name.
Edward Jones at a Glance Total client assets: $539 billion Number of advisors: 10,136 Average annualized revenue per advisor: $291,229 Pretax profit margin: 11.39% Motto: Making Sense of Investing Best Management move: (Finally) Developing a fee...
Merrill Lynch at a Glance: Total client assets: $1.8 trillion Number of advisors: 16,610 Average annualized revenue per advisor $794,702 Pretax profit margin: 26.0% Mascot: Bull Best management move: Acquiring First Republic Bank Worst management...
The third quarter was tough on all of the major brokerage firms as bets on mortgage derivatives came home to roost. According to an October 26 story in The New York Times, it got so hot at Merrill before the third-quarter earnings announcement...
It was a less than ideal situation. When Jeffrey Keefe left his job as a financial advisor with Ameriprise to start his own Portsmouth, New Hampshire-based firm two years ago, he decided he'd just stay put in the office he shared with several...
