Disgruntled Smith Barney Brokers Are Voting with Their FeetFeb 23, 2007,By Kevin Burke Sixty-nine brokers left Smith Barney Friday, Feb. 16, just ahead of the three-day weekend—a fact confirmed by the brokerage firm. Fridays before a long weekend are historically prime time for unhappy brokers to make a clean break, but the large number of brokers taking off on a single day is alarming, according to one recruiter.... Smith Barney Comp Pleasant SurpriseFeb 21, 2007,By John Churchill After two frustrating months of worry and speculation, Smith Barney advisors have gotten the final details on their new compensation plan, and many are pleasantly surprised. The outlines of the plan were announced last December, but the firm released a written plan, with some improvements, just last week.... Most Unusual Posting of the MonthFeb 20, 2007
Check out this posting by a wannabe broker who asks if it's cool to date hot, rich clients.... Desperately Seeking Advisors for Rep.’s 27th Annual Outstanding Advisor AwardsFeb 13, 2007,By David A. Geracioti We, the editors of Registered Rep. magazine, are officially opening our annual hunt for the best in the business. That’s right, we’re asking for nominations for the 2007 Outstanding Advisor Awards (formerly the Outstanding Broker Awards). Now in its 27th year, the OAAs are awarded to 10 veteran financial advisors who exemplify the highest standards of professionalism. Entrants are judged on productivity (must be among the top 25 percent of their firm in gross production to be considered), but winners possess other qualities. We’re looking for FAs who are civic-minded (community charitable work is one example), and FAs who are known to be mentors at their firms or advisory practices.... A Toast to the ManFeb 1, 2007,John Churchill Three brokerage firms graced Fortune's 100 Best Companies to Work For this year: Edward Jones, Robert W. Baird, and A.G. Edwards... Keep Em HappyFeb 1, 2007,John Churchill Wachovia Securities, the brokerage arm of Wachovia, is going to start offering its advisors bonuses tied to client satisfaction. ... Seeing GreenFeb 1, 2007,By Christie Matheson It's never been as trendy as it is right now or as crucial, many agree to take care of the environment. Indeed, more and more folks with funds want to invest in the future of the planet... Sacked!Feb 1, 2007,BY KEVIN BURKE On June 12, 2004, Miguel Garcia lost his job at Smith Barney. It brought an abrupt end to a stellar 10-year stint with the firm. The day was unusual from the very start, he recalls.... First, Hire the LawyersFeb 1, 2007,By Mindy Diamond A good, independent lawyer can be a financial advisor's greatest partner and advocate before, during and after moving to a new firm. But most advisors take the plunge without one.... Merrill Offers Big Bonus, with StringsFeb 1, 2007,John Churchill Merrill Lynch has announced that it will offer fat bonuses for increased production from either fees or commissions in 2007. But, only certain brokers are eligible... Davids Quietly Challenging GoliathsFeb 1, 2007,By Halah Touryalai If you work in a wirehouse or regional brokerage, you may have attended a lot more going-away parties in 2006. Across the industry, there was a migration of financial advisors to the independent RIA channel... Keep It SimpleFeb 1, 2007
The Indie ManNov 1, 2006,By Halah Touryalai The independent contractor broker/dealer model is growing to put it mildly. In fact, between 2003 and 2005, the sector saw a 32 percent increase in revenue.... The Right StuffNov 1, 2006,By Anne Field It takes some planning to identify and woo advisors who will be the right fit for a boutique advisory firm and broker/dealer... A Big Trade Off?Nov 1, 2006,By Susan Konig When going independent, your payouts rise substantially. But what about your compliance responsibilities?... Bust a Move...CleanlyNov 1, 2006,By Christopher O'Leary Going indie with your book without going to court... Comings & GoingsNov 1, 2006
Wachovia Securities promoted Mary Mack to president of its Investment Services Group. She will replace Dwight Moody, who is scheduled to retire in 2007.... Seek Professional HelpNov 1, 2006,By Kevin Burke Hiring a CPA or other skilled specialist to be your sales assistant could catapult your practice to the next level... Golden Handcuffs StickNov 1, 2006,John Churchill Another assault on deferred compensation fails. After going two for three in a unique tug of war involving both the arbitration and court systems, former Smith Barney broker James McCarthy is likely throwing in the towel in his three-year fight for the money left in his deferred-compensation plan.... Take Their MeasureNov 1, 2006,By Susan Konig How profitable are your clients? Most advisors don't know. And thats bad for business... Please Don't GoNov 1, 2006,By Mindy Diamond For brokers and branch managers, the process of switching broker/dealers inevitably involved bad blood... To Market, To MarketNov 1, 2006,By Tami Kamin-Meyer A few simple rules to remember when you're creating a marketing plan for your advisory business... Don't Be a Dick or a SamNov 1, 2006,By Jennifer Bennett Think you are a dream boss? Ask your sales assistant.... The Entrepreneur EquationNov 1, 2006,By Halah Touryalai Wirehouses are now offering impressive upfront bonuses. But going independent may still not make sense for some advisors. How to do the math... How to Protect Client AssetsNov 1, 2006,By Jason Van Steenwyk Liquidity claims against professionals, business owners and wealthy individuals are rising. What can you do to help clients minimize risk of losses... A.G.E. to Catch a RepNov 1, 2006,By John Churchill AG Edwards wants to recruit top dogs, but it doesn't want to pay out the ear for them. The midwestern regional is trying a different tack... Cold Call: Jeff GersonOct 1, 2006,Kristen French What is the view from your office window today? Opportunity, and oh yeah, the most spectacular view of New York you have ever seen. How did you get your... Is Bigger Always Better?Oct 1, 2006,By Richard Hunter You don't have to be supersized to be profitable... Morgan Joins TRO PactOct 1, 2006,Halah Touryalai Morgan Stanley has officially opted to join the inter-brokerage pact, first created in the fall of 2004, which stipulates that members will not sue brokers departing to other firms... Comings & GoingsOct 1, 2006
Howard Schnoll and Richard Schilffarth joined RBC Dain Rauscher's Milwaukee office, and have brought more than $4 billion in assets under management with... UBS Offers Hot Retention BonusOct 1, 2006,Halah Touryalai UBS is doing all it can to hold onto as many of the newly acquired Cleveland-based McDonald Investments advisors as possible beginning with a retention package that will be hard to refuse... Crackberry Addicts Fight BackOct 1, 2006,John Churchill Run afoul of the law while tapping or yapping into your Blackberry and you may have a case-against your employer. ... Creepy ConversationsOct 1, 2006,By Anne Field It may be uncomfortable but conversations about death are important - particularly for elderly clients with "interesting" family dynamics... The Devil You Know, The Devil You Don't KnowOct 1, 2006,By Mindy Diamond Changing firms is never an easy undertaking. It requires serious research and due diligence. So much so, that you'd think every person who makes a change would know what they are getting into but that is not always the case.... A Special(ized) BunchSep 1, 2006,By Halah Touryalai In an environment where traditional stockbrokers are being encouraged to offer broad financial-planning services, reps may not realize that, on the contrary, offering a specialized service is the key to success.... |
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