Any mutual fund executive who made a deal to allow institutional investors to trade forward (also called late trading) mutual fund shares should be taken out and flogged. Oops. Did I say flogged? I meant that he should be prosecuted to the full...
Paul Santucci recently left Wachovia Securities, where he had been a regional manager, to move to UBS Securities, where he will be covering the New Jersey region. He had been at Prudential for four years prior to its acquisition by Richmond-based...
For a minute or two at a recent SIA conference in Boston, Morgan Stanley's John Schaefer sounded optimistic, saying he envisioned a time when advice can once again be a growth business. He then proceeded to list a fistful of reasons why no one in...
Those of us who can still remember what it's like to be a teenager know the feeling well: I've got to get out of this house. These rules are driving me nuts. I'm an adult now. I need my independence. The drive to be out on your own, to slip free...
Yes, the rich are different from you and me, most notably in terms of the financial advice they seek. If you aspire to serving these folks and who doesn't these days? be prepared to bone up on the special issues and problems of the ultra-wealthy...
Hayley Arp, a rep who left her job at Morgan Stanley in Atlanta to appear on Fox's reality TV show Mr. Personality, which featured Monica Lewinsky and a bunch of guys in multi-colored masks, has broken up with her television boyfriend, Will Dyck...
When it named Robert Bagby as CEO in March 2001, A.G. Edwards all but staked a For Sale sign in front of its St. Louis headquarters. Or so everyone thought. Bagby, despite being an A.G. Edwards lifer (he has been with the firm since 1975), was...
When New York Attorney General Eliot Spitzer announced his investigations into improper mutual funds trading practices, the reaction in the press and on the Street was swift and overwhelmingly breathless. In a headline, Money magazine announced...
The average production in the room was $1.5 million, the length of service 20 years, but the trepidation was the sort of thing you might feel at a freshman orientation. This was at a workshop called Skating to the Money Mastering High-Net-Worth...
The formation of private wealth groups is continuing as a trend in the brokerage world, and the most recent additions are UBS Securities and Wachovia. Both companies have announced strategies that take aim at a highly specialized, high-income...
