Merrill Lynch, continuing to attract talent to its upper tier of brokers serving clients with more than $10 million in investable assets, bagged a big gun in the last week. Michael Russ, a large producer who oversees several billion in assetsâÂ&...
In a little-publicized move, the NASD has formed a Public Information Review Initiative, which would radically expand investors access to information about brokers.
According to a report from Celent Communications, the effects of prolonged market difficulties and last years Wall Street scandals are forcing a transformation of traditional retail brokerage firms.
This poses a big problem for Wall Street firms, who often send lawyers from HQ in New York to respond to arbitration claims and to handle related legal matters.