Prudential Investments has launched a new service called the Prestige Program that offers reps with wealthy clients a liaison to firm experts.Under the program, the firm pairs a "Prestige Analyst" with a broker or insurance agent. A rep then...
Prudential Securities seems to be leading the charge in the undeclared bidding war for brokers."It's the craziest thing," says a Prudential rep on the West Coast. "They'll pay 150 percent of gross, and they won't spend one dime to retain...
In what may be the first arbitration award of its kind, Salomon Smith Barney was ordered in June to pay 730,000 dollars to a former branch manager, reinstating his Capital Appreciation Plan (CAP) assets.David Dalton says he was a producing branch...
Nine years ago, Fred Hensler had second thoughts about being a broker. Today he's making strides toward 1 million dollars in production.When Fred Hensler graduated from his wirehouse's month-long training program in 1989, he was confused and...
John Williams, A.G. Edwards, Paducah, Ky.Outside of his work, music and religion are John Williams' primary interests. So when he decided to make a concerted effort to double his production from 250,000 dollars, he aimed to tie the three together...
Several wirehouses have formed online bond-trading consortiums in the past few months in an attempt to compete with independent bond-trading Web sites.PaineWebber, Goldman Sachs and Spear Leeds & Kellogg were expected to launch a Web-based bond...
The privacy issue is still simmering, and the brokerage industry is worried it may come to a boil.The Gramm-Leach-Bliley Act (GLB) requires regulators such as the SEC to devise privacy rules that parallel provisions in the law. But in May...
Chuck Volz is the owner of Finnegan's Wake, a Philadelphia pub. That's how he got to know a young Temple University professor named Todd Napolitano who lived down the block.In 1997, Napolitano asked Volz for help in starting a new career as a...
Steve Rodemer, Cascade Investment Group, Colorado Springs, Colo.After nearly 25 years at Salomon Smith Barney, Steve Rodemer wanted more control of his business. Retirement might be in his future, he thought, and a wirehouse wasn't a place to...
Edward Jones has lost another battle in its attempt to nullify a $750,000 arbitration award won in 1995 by a former rep at the firm, Channing Schwartz, of Alliance, Neb.The Missouri Court of Appeals, Western District, on May 26, rejected the St...
