If you're looking for high-net-worth clients and who isn't? there are a few tried and true ways to find them. One is to be the manor born. If you have a III at the end of your name, three generations of Ivy League alumni behind you and cousins who...
James Gorman, head of Merrill Lynch's private client group, believes the brokerage industry will continue to consolidate in the coming years. He remains coy about what type of firm interests Merrill, but he was firm on one matter: the fact that...
November's news that Bob Mulholland was leaving Merrill Lynch wasn't entirely a surprise. He had been co-head of the 14,000-strong retail brokerage unit, but Merrill insiders figured all along that only one boss would prevail. The news is...
The overhaul of the mutual fund industry spearheaded by Eliot Spitzer is widely viewed as a victory for investors, but some analysts are challenging that notion. In September 2003, Spitzer set off a firestorm, charging mutual fund companies with...
It seems the more you get involved in your clients' charitable intentions, the likelier it is that you end up giving away your two most precious commodities: your time and their money. But the fact remains that assisting benevolent activities...
Q: I have about $154,000 remaining on a forgiveable loan that I received when I joined a major wirehouse in 2001. Recently I was terminated for unauthorized trading in a client's fee-based account. About 3 percent of it was invested in stocks. On...
In Case You Missed What That Glauber Guy Said: There has been a real sea change in the quantity and nature of regulation, and I don't think it's going to abate. Marc Menchel, general counsel, NASD, June 2004. Don't Go To Forums Like This At the...
High-net-worth brokers Ken Moffet, Tom Bres and Drew Anton moved to Morgan Stanley's private wealth management group in the firm's Houston office, according to sources. The three come over from Goldman Sachs. Moffet was a 16-year veteran of that...
Eliot Spitzer has gone on the warpath again, this time against insurance companies, leaving their stocks wounded some critically along the trail. When Spitzer guns for an industry, investors typically get out of the way, and it was no different...
As the holiday season approaches, the SEC is getting daily entreaties from registered investment advisors seeking an end to the broker/dealer exemption rule. The rule says brokers who charge fees for their services are exempt from regulation under...
