With the ink still drying on its deal to purchase Piper Jaffray’s brokerage arm, UBS announced today it will now buy Cleveland-based McDonald Investments, KeyCorp’s brokerage unit.
The New York Stock Exchange released second-quarter 2006 earnings data showing significant aggregate increases in revenues and profits for member firms today. But is the party winding down for brokerage firms?
In an environment where traditional stockbrokers are being encouraged to offer broad financial-planning services, reps may not realize that, on the contrary, offering a specialized service is the key to success.
You might have to move to another brokerage house or go independent to offer your better clients the kind of treatment tehy want and can afford ... but aren't getting
What's an acquisition worth these days? Much more when you can deliver most of the reps, as UBS seems to be doing in its takeover of Piper Jaffray. As of the close of the deal on Aug. 14, UBS had retained a solid 85 percent of Piper's 840 reps
Plenty of advisors shun global funds, which own a mix of U.S. and international stocks. The problem is that global portfolio managers can adjust their allocations, holding 40 percent of assets in the U.S. one year and 60 percent the next.
It's been five years since my brother Matthew Burke was murdered when terrorists flew an airplane into the north tower of the World Trade Center, trapping him and his colleagues above the burning crash line and dooming them to a horrible death.