It's not too early to start thinking about taxes. Here are a few sites to help lighten the burden for you and your clients. TaxPlanet.comwww.taxplanet.com The Website advertises itself as offering All things tax for individuals. Most of the year...
Barring a miraculous rebound in the economy, broker-dealer firms will continue to whack reps this year. And, let's be honest, if you're on the short-list to be let go, you probably already know it. If you're wondering, here's a hint: What do your...
After receiving hundreds of complaints from brokers, UBS PaineWebber switched gears and decided it will not penalize reps whose clients quickly sell shares in new IPOs, a practice known as "flipping." The firm issued an e-mail to brokers on...
The NASD’s new ruling on client account transfers “is a clear victory for brokers and customers,” securities attorney Jim Eccleston said today. The NASD announced Wednesday that it will bar member brokerage firms from blocking...
The hotly-debated and controversial question of “who owns the client” appears to have been answered by the NASD and the SEC: it’s the broker, not the firm. The NASD announced today it will bar member firms from blocking customers...
For years, delays in client account transfers have been a controversial issue. But the NASD has put an end to the debate, announcing today that it has adopted a new rule interpretation prohibiting "any NASD member firm from taking action that...
UBS PaineWebber brokers claim their firm's "flipping" policy of charging two times gross commissions when clients sell newly issued stock is "illegal" and that the firm "has never put it in writing." During the past 1 1/2 weeks, branch managers...
A.G. Edwards is reducing its workforce through voluntary retirement and attrition because of diminishing revenue, the firm announced today. Yet brokers will not be directly affected by the move, according to producers from the firm. The job cuts...
As Morgan Stanley's earnings continue to plummet, the firm's brokers are doing all they can to weather the market's storm mainly by maintaining their existing client base. "That's what I'm doing," says a Morgan Stanley West Coast-based producer...