Merrill Lynch has settled with a broker who claimed the firm forged his signature on a noncompete agreement.Merrill sued Phoenix broker Stephen Callahan in an Arizona federal court Nov. 8, 1999, after he went to PaineWebber. As evidence supporting...

The family limited partnership (FLP) is the ice cream sundae of estate planning strategies. It collects a mound of mouth-watering ingredients (assets) into one bowl that satisfies any invited to taste it.The recipe: Your client, as general partner...

Prudential Securities is revising branch manager compensation to encourage fee-based business.With a targeted July rollout, the new pay plan will move some expenses down to the branch level that were previously absorbed by the corporate office...

Once every few weeks Dave Almquist has floor duty at his A.G. Edwards office in Dana Point, Calif. Some of the phone calls he fields from the public are a little crazy. "People seem to be in a hurry to catch everything before it gets away,"...

In an unusual NASD arbitration settled last summer, a former Edward Jones broker has been barred permanently from accepting business from any prior clients unless those clients sign non-solicitation affidavits before they transfer accounts to him...

So, you're thinking about a career in management? Think again.Although the grass may look greener on the other side of the branch office, having responsibility for an office of brokers is not for everyone. The emotional demands of the job are...

The allure of a six-figure upfront recruitment bonus is virtually impossible for many brokers to resist, so it's not unusual that many switch firms during the course of their careers.It is unusual, however, for brokers not to succumb to those...

North Carolina broker Phil Taylor won a moral victory in arbitration--albeit a "shallow" one, he says. In December, an NASDR arbitration panel agreed that his former firm, Edward Jones, defamed him when it sent derogatory letters to some of his...

The major firms are rolling out a long list of automated functions that seem promising for reps and clients alike. Coming up are:* Better online account statements that incorporate either delayed or real-time quotes;* Software tools that allow...

After facing a threatened member-firm revolt, the NASD last month changed the terms of its proposed Nasdaq spin-off via a private placement. Smaller NASD members now stand to get a 25 percent or larger stake in the market. They will also vote on...