The Smart MoneyApr 1, 2008,David A. Geracioti Editor-In-Chief Talk about embarrassing: The credit debacle has shown just how dumb and greedy the (supposedly) smart money really is. Bear Stearns, natch, is the poster... Runaway Growth: Rep-As-Advisor Assets ExplodeApr 1, 2008,Kristen French Just over a year ago, fee-based brokerage accounts got the ax when the Financial Planning Association (FPA) successfully sued the SEC to overturn the... Take it or leave itApr 1, 2008,By Mindy Diamond The market may be ugly, and the economy may be teetering, but the major wirehouse firms aren't cutting back on the dough they're throwing at new recruits.... Mini MessApr 1, 2008,Christina Mucciolo Fidelity Investments is paying big bucks ($3.75 million) in fines for, among other things, playing with little people. Thirteen Fido employees accepted... COMINGS & GOINGSApr 1, 2008,Halah Touryalai Wilkes Thomas Martin III joined Morgan Keegan & Co., Inc. as a financial advisor and senior vice president in the firm's Greenville office. Prior to joining... THE ECLIPSE OF PAPERApr 1, 2008,BY CHRISTINA MUCCIOLO RegentAtlantic Capital was ahead of the game. In 1996, the fee-only RIA in Chatham, N.J., went paperless a move that put it a decade ahead of its peers.... Raymond James Financial ServicesApr 1, 2008
Raymond James Financial Services 880 Carillon ParkwaySt Petersburg, FL 33716866.905.6333www.advisorchoice.com Number of Back-Office Employees*: 2,051... First Allied SecuritiesApr 1, 2008
First Allied Securities Advanced Equities Plaza655 W. Broadway, 12th Floor; San Diego, CA 92101619.702.9600www.firstallied.com /www.joinfasi.com Number... Will Dimon Offer Retention Package To Coveted Bear Advisors?Mar 24, 2008,By Halah Touryalai JP Morgan’s chief may have asked asked rival firms to back off from hiring Bear Stearns advisors, but that doesn’t mean competitors have stopped offering recruiting deals to anxious Bear reps. ... Earnings, Wealth Management Still Truckin’ at Morgan StanleyMar 19, 2008,By John Churchill Morgan Stanley reported better-than-expected first-quarter earnings today, at least temporarily easing investor nerves. Still, overall revenues and earnings were well below last year’s levels: Net revenue was $8.3 billion for the quarter, a 17-percent decline from last year’s first quarter. Earnings were $1.5 billion, down 42 percent from $2.3 billion in the first quarter of last year. But the wealth-management unit was again a bright spot, reporting increases in both revenues and earnings. ... Morgan Stanley Reorganizes Wealth-Management UnitMar 17, 2008,By Christina Mucciolo Morgan Stanley is streamlining its Global Wealth Management unit, reducing its four U.S. divisions (Northeast, South, Central, West) to two (South/West and Northeast/Central), according to an internal memo sent last week by Andy Saperstein, head of national sales. ... UBS Says U.S. Wealth Management Not For SaleMar 17, 2008,By John Churchill A spokesperson for UBS denied rumors, aired by CNBC last week, that the Swiss firm is contemplating a sale of its U.S. wealth-management business in order to raise capital. UBS has written-down billions of dollars related to mortgage-securities losses. ... Bear Sells To JP Morgan, Advisors Prepare For FlightMar 17, 2008,By Kristen French Bear Stearns reached a deal Sunday to sell itself to J.P. Morgan—at a fire-sale price. J.P. Morgan will pay $2 a share for the teetering bank, less than one-tenth of the price that its shares were trading for on Friday. That day, Bear’s stock plunged 47 percent to close at $30. Just a year ago, Bear shares were trading at $170. Recruiters say Bear advisors are very determined to leave, but the deal at least buys them some time to look for a new home. ... For Bear Reps, It’s Decision TimeMar 14, 2008,By Halah Touryalai By now, everyone on Wall Street knows Bear Stearns is in deep—well, you know what. But where does the firm’s state of emergency leave its 500 or so advisors? That depends on whom you ask. ... Conflicted? Et Tu, Peter Lynch?Mar 5, 2008,By David A. Geracioti The conflict of interest/mutual-fund scandal continues to play itself out. How does one win the trading business of a big mutual fund? Take some traders and executives to, say, the Super Bowl. Well, that was business as usual in those glorious, bull-market days of yore. ... Krawcheck Says Advisors Not Forced Into Wealth Silos: UPDATEMar 3, 2008,By Christina Mucciolo Citigroup’s reorganization of its private bank and Global Wealth Management division, announced Tuesday, will absolutely not force advisors into silos based on client wealth, said Sallie Krawcheck, Chairman and CEO of Citigroup's Global Wealth Management division, in an interview Wednesday. The reorganization of Smith Barney and the private bank into four separate units according to wealth (institutional, ultra high net worth, high net worth and emerging affluent) is purely a management move, she said, and is intended to help the firm serve these wealth segments better.... THE FEVER FOR STRUCTURED PRODUCTSMar 1, 2008,BY BRIAN WARGO Long a Favorite of Investors in Europe, structured products are rapidly gaining popularity in the United States. Last year, $114 billion in structured... To Heck With Modern Portfolio TheoryMar 1, 2008,By Stan Luxenberg With markets soaring last year in places such as India and Turkey, investors poured cash into international funds. Of the $6.6 trillion invested in equity... To Short An ETFMar 1, 2008,By Stan Luxenberg When markets turn down, the hated short sellers appear. The volume of short sales bets that stocks will drop spiked after technology shares began collapsing... INDEPENDENT TOGETHERMar 1, 2008,BY HALAH TOURYALAI Felipe Luna is on the Prowl for More Advisors particularly wirehouse reps who are lusting after the independent life for his RIA firm, San Jose, Calif.-based... THE LENDING SQUEEZEMar 1, 2008,By Kristen French Did you think financial advisors would be immune to the sub-prime crisis? Think again. Sure, you've heard that credit markets are tight. Capital is obviously... HOW TO DANCE THE WALL STREET SHUFFLEMar 1, 2008,BY HALAH TOURYALAI There's no such thing as an easy route to independence. But there are some things reps can do to ease the transition. Consultants say the most critical... Tom Ruggie,Mar 1, 2008,Christina Mucciolo Registered Rep: Describe your ideal client in three words or less. Tom Ruggie: Wealthy, decisive and appreciative. RR: Piece of sports memorabilia you... [AMERICA'S TOP RIAS]Mar 1, 2008
Firm City Phone Website Total AUM (millions) Total Accounts Number of investment advisors Number of clients 1 Veritable LP Newtown Square, PA 610-640-9551... Wall Street Competes For Transgender TalentMar 1, 2008,John Churchill Wall Street's got balls or does it? Kidding aside, the major wirehouse firms all offer special benefits to employees who want to undergo sex-change surgery.... [WHERE THE MONEY LIVES]Mar 1, 2008
(Bold Indicates Top 100 RIA) Firm City Phone Website Total AUM (millions) Total Accounts Number of investment advisors Number of clients CALIFORNIA Kochis... The Baby Boomer's Inner 800-Pound GorillaMar 1, 2008,Christina Mucciolo The 97.5 million viewers who tuned into this year's Super Bowl got a little dose of retirement reality from AXA Equitable Life Insurance Company, which... THE ACCOUNTANT DOWN THE HALLMar 1, 2008,By Anne Field It seemed like a guaranteed homerun. Eight years ago, Janet Stanzak joined forces with a nearby accounting firm in Minneapolis to launch and run a new... Across the PondMar 1, 2008,Halah Touryalai Deal making in the wealth-management space has been rampant lately, and some holding companies and individual RIAs are beginning to see opportunities... Small Businesses Need New BootstrapsMar 1, 2008,By Mollie Neal Times are tight for small-business owners. Not immune to the sub-prime mortgage collapse, many are finding their best sources of capital home equity financing... PLAIN ENGLISH: THE COST OF COMPLIANCEMar 1, 2008,John Churchill The SEC voted in February to propose changes to the structure of the Form ADV, the disclosure document that all investment advisors must complete. Instead... Gimme A BreakMar 1, 2008,By Kevin McKinley When your clients complain to you about paying their taxes this April 15, don't roll your eyes when they claim, It's not about the money. Because their... Sonya MorrisMar 1, 2008,Kristen French Registered Rep.: Why has there been so much buzz about actively managed ETFs? Sonya Morris: The ETF market has grown at a torrid pace in recent years,... Change The RulesMar 1, 2008,David A. Geracioti Editor-In-Chief There are some topics in this business that seem to pop up again and again. This month's cover story addresses one of them: The difference between registered... FIX ADVISOR LAWS!Mar 1, 2008,By John Churchill One more time: Retail investors your clients are confused about the definition of a financial advisor. That is, they don't understand the difference between... |
Current Issue Whole Lotta LoveBy Stephen Webster These days the wealth management divisions are the shining stars of wirehouse firms. advertisement Recent NewsREP. RESEARCHadvertisement BOOKS
This reference book was updated for 2008 and now contains over 900 pages of information on essential financial concepts and wealth management strategies for your work with wealthy clients. The book not only contains brief summaries of each topic, but it also contains many useful diagrams and charts that can be used with clients when explaining difficult financial concepts. The information in this book meets current FINRA/NASD guidelines. Click here. Bookstore
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