Brokers often take a shortsighted view of their careers, and this usually turns an effort to convince them to think about their own retirements into an uphill battle. Indeed, given the average advisor's zeal to earn as much as possible as quickly...
The setting: Wall Street The date: March 31 The scene: An unidentified man, wearing a suit and tie, holding a stack of resumes and carrying a sign that says, Have Series 7 and 63. Will work for salary. (No word on whether the tactic paid off; the...
At least one organization handicapping the future of Morgan Stanley CEO Philip Purcell likes his survival chances: intrade.com. The Dublin-based futures market predicts that Purcell has only a 29 percent probability of stepping down forced or...
It used to be that the NASD’s continuing education requirements covering regulatory issues were for reps that had recently gotten their Series 7 licenses. But, effective this month, the NASD is sending everyone back to the classroom for...
In the first settlement of its kind, the NASD hit Raymond James with a $750,000 fine Wednesday for improperly putting certain clients in fee-based brokerage accounts. The NASD said Raymond James Financial will terminate its fee-based brokerage...
Sometimes it pays to take on securities regulators, despite their financial and legal heft. Consider the case of Charles Elliott. In a rare victory for a broker in a settlement dispute with the SEC, Elliott last week won recovery of over $100,000...