Edward Jones—a firm that hasn’t attracted much regulatory scrutiny over the years—has been under considerable fire of late, thanks mainly to previously undisclosed revenue-sharing arrangements. The company has been loath to make...
Lehman Brothers hired Holly Isdale as managing director and head of strategic wealth services within its private client group. She focuses on providing wealth services to ultra-high-net-worth clients, foundations and endowments, and reports to...
MFS Investment Management and Morgan Stanley's announcements in March that they will no longer pay soft dollars to brokerages for third-party research might be the snowflake that causes an avalanche. Many observers believe the announcements signal...
To measure Janus Mercury's fortunes in newspaper column inches is to believe the fund is a disaster. An aggressive growth specialist, Mercury suffered big losses in 2000 and 2001. That was followed by New York State Attorney General Eliot Spitzer...
Back in 1981, when Philip J. Purcell helped engineer the odd-sounding merger of Sears Roebuck and Dean Witter, he had a vision. He knew the 401(k) legislation encouraging people to invest for retirement would create a voracious appetite for mutual...
The long parade of securities scandals has convinced broker/dealers to apply some prophylactic measures to their fee-based accounts. Registered reps at the major b/ds say their managements have been heavily scrutinizing whether certain accounts...
Much of the noise in the broker/dealer industry lately is coming from the halls of Washington rather than from the trading desks all over the country. Ask an average registered rep what the most time-consuming portion of his day is, and more often...
