Prudential Insurance Company of America today officially changed its name to Prudential Financial. The name and logo of Prudential Securities will remain unchanged. Prudential will use its new name for its U.S. financial services business and its...
Should payments made to brokerage firms by fund companies be disclosed? Most, if not all, outside fund groups make payments to brokerage firms that sell the funds' shares. Vendor payments are typically in the range of 30 to 40 basis points of new...
Falling stock prices have shaved stock-fund assets, yet sales themselves have softened only modestly. Most brokers probably don't feel particularly buoyant right now, given what's been happening in the stock market lately. But as several mutual...
Since January, Prudential Securities has been requiring a basic risk-tolerance profile called the Financial Blueprint be completed when an account is opened. If not, commissions generated in the account are withheld until the blueprint is done. A...
Benjamin Franklin's quest for perfection and personal growth involved setting benchmarks to develop certain qualities in his daily life, including frugality, truthfulness, industriousness and good-naturedness. He then linked 13 virtues to those...
Investors will now listen to reps when they suggest orderly exits from investments. Risk management and sell disciplines are popular again. The legacy of the recent bear market will be greater attention to exit strategies, sell disciplines and...
Saying goodbye to nonproductive clients is a great way to build a solid business. I call it weeding out the garden. However, too many sales manuals teach reps to hang on to everyone, instructing them how to overcome objections. These training...
Morgan Stanley Dean Witter officially became Morgan Stanley on April 2. The firm had announced in January that it planned to shorten the name. In March, Morgan Stanley's board approved dropping the Dean Witter moniker. The new brand name of Morgan...
In 1994, John Schneider decided to sneak away from the office for an afternoon of fly-fishing at nearby Beaver Creek, Pa. In order to justify the workday field trip, he invited along a few clients. The getaway was strictly spontaneous, says...
Engaging in an outside business activity puts your career at risk. Why? Because your firm will be on the hook if things go wrong. Lets start with this assumption: Youre not a modern day Charles Ponzi, engaging in nonexistent securities...