America’s Top 100 Independent AdvisorsNov 1, 2008
Name Firm (b/d) City Est. AUM in $MM Yrs. In Biz Business Description/Specialty 1 Kevin Myeroff NCA Financial Planners (Royal Alliance) Cleveland $2.650... Meet The IndiesNov 1, 2008
With so many independent b/ds in the industry, it’s not always easy to tell one from the next. In a continuing effort to help our readers become more familiar with their options, we’ve asked the heads of two independent b/ds to answer a few questions about their firms and themselves.... Fix My Business: Working with WidowsNov 1, 2008,BY Anne Field It can be a rewarding and lucrative niche, but you have to know how to price your services and have a lot of patience. ... Outing The Old, Summoning The NewNov 1, 2008,BY JOHN CHURCHILL Michael Corbat certainly has his work cut out for him. Tapped to head up Citigroup's Global Wealth Management unit (GWM) in the middle of the global financial... Expectation ControlNov 1, 2008,David A. Geracioti Editor-In-Chief I have a friend, a financial advisor, who keeps what he calls The Yell-At-Tom Index. (His name is Tom.) Interestingly, The Yell-At-Tom Index (TYAT) is... Small Business Advisor: Gimme Some CreditNov 1, 2008,By Mollie Neal How to help your small-business clients secure their cash reserves and find alternative sources of credit in these difficult markets.... Advisor For Life: Make Like MadonnaNov 1, 2008,By Stephen Gresham Crises are not kind to those who are stuck in ruts. Take this opportunity to make a transformative change.... If Bank of America Signs Protocol, It’s Business As Usual. If Not, Maybe NotOct 31, 2008,By Kristen French and John Churchill If Bank of America signs the broker protocol, it will be pretty much business as usual for Merrill advisors, say securities lawyers. But advisors may not know whether BofA will sign it before they have to sign their own retention agreements—by November 14. If the bank is going to sign, some wonder, what is it waiting for?... Merrill Lynch Says Broker Protocol Still Intact, Clarification ForthcomingOct 30, 2008,By John Churchill and Kristen French Merrill Lynch financial advisors put off by non-compete language in the retention package they received last week—and must now decide whether to sign—are getting assurances from Merrill that it’s not as bad as they think. ... Merrill’s Retention Package: Just For White Guys?Oct 30, 2008,By Halah Touryalai Stowell & Friedman, a Chicago-based law firm, must not want Merrill Lynch to forget about an unresolved discrimination suit it filed against the firm three years ago. ... AIG B/Ds Looking for a New Home. Any Takers?Oct 28, 2008,By Halah Touryalai Now that its parent has announced plans to sell off portions of itself, the AIG Advisor Group is looking for a new home. ... Merrill Retention Package Angers FAs With “TRO” LanguageOct 28, 2008,By John Churchill Merrill Lynch financial advisors are worried about one paragraph in the retention contract they received last Friday, October 24—very worried. ... Separate BofA Retention Package Targets Top Half of BofA forceOct 27, 2008,By John Churchill Bank of America and Merrill Lynch released retention bonus plans for their financial advisors on Friday and both send a consistent message to financial advisors: If you’re a top producer, we want you to stay. (Click here for the Merrill retention package.) If you’re not, see ya. ... Merrill Retention Is Adequate for Top Dogs, Scanty for Lower-Tier ProducersOct 24, 2008,By John Churchill The long-awaited Merrill Lynch retention package has arrived. Not surprisingly, top producers will probably be pleased, but others may not.
The long-awaited Merrill Lynch retention package has arrived. Not surprisingly, top producers will probably be pleased, but others may not. Wachovia Reports Record $24 Billion Loss, Brokerage Results Weak, But With Bright SpotsOct 22, 2008,By John Churchill Wachovia financial advisors don’t have a great story to tell their reportedly fed-up clients today. ... Raymond James Q4 Net Drops 22%Oct 21, 2008,By David A. Geracioti Raymond James Financial net income ($49 million) fell by 22 percent in its fiscal fourth quarter, ended September 30. ... Merrill Posts $5.2 Billion Loss, Fifth In A RowOct 17, 2008,By John Churchill Merrill Lynch reported its fifth straight quarterly loss today. ... Citi Reports Fourth Consecutive Loss, Wealth Management Stops BleedingOct 17, 2008,By John Churchill Citigroup reported a $2.8 billion loss for the third quarter—it’s forth in a row— as the firm announced more than $13.2 billion in charges related largely to its mortgage portfolio. ... Schwab 3Q Earnings Not Bad At All, ConsideringOct 15, 2008,By John Churchill Charles Schwab reported a slight drop in its third quarter earnings today, but excluding the sale of U.S. Trust in the year-ago quarter, results are mostly flat versus last year—which is an achievement considering the market environment. ... Morgan Stanley Sweetens Deal For Mitsubishi, Stock SoarsOct 13, 2008,By John Churchill Morgan Stanley eased investor worries about its future today, closing on its $9-billion deal with Mitsubishi UFJ Financial Group. ... Citi Walks, Wells Fargo Gets Wachovia, Wachovia Reps RelievedOct 10, 2008,By Christina Mucciolo Wells Fargo emerged the victor in the battle for Wachovia after Citi was left at the altar. ... McCann: Merrill Managers Get No Retention, FA Package Due in Two WeeksOct 10, 2008,By John Churchill On a nationwide conference call this morning with branch managers and regional directors, Robert McCann, president of Merrill’s global private client group, told them that they will not be getting anything in the way of retention. He also told them that the retention package for financial advisors would be released in the next week or two, and that only some financial advisors would get a deal. ... Don’t Fear Morgan Stanley, Says Analyst (But Don’t Trust My Buy Rating Either)Oct 10, 2008,By John Churchill Morgan Stanley is having trouble convincing the market it’s a good investment. ... Smith Barney Closing Branches, Letting Managers GoOct 9, 2008,By Kristen French As part of a larger cost-cutting effort, Smith Barney is consolidating some of its branch offices and laying off a number of its branch managers. ... Citigroup, Wells Fargo Still Battling Over WachoviaOct 6, 2008,By John Churchill After a weekend of court battles, Citigroup and Wells Fargo are still battling over who has the right to purchase Wachovia. ... UPDATE 2: Wachovia Hooks Up with Wells Fargo; Citi Says Wachovia In BreachOct 3, 2008,By Kristen French There are some very happy Wachovia shareholders, and advisors, out there this morning. Wells Fargo agreed to acquire all of Wachovia’s operations for $15.4 billion, or about $7 a share, in an all stock deal, the companies announced on Friday--without any help from the government. ... Just Say No To Citi?Oct 2, 2008,By Kristen French Apparently, not everyone is pleased by the Citigroup deal in which Citi would buy Wachovia Corp.’s bank branches, deposits and private bank, for $2 billion, or about $1 a share. ... Thain Gets A Job At Bank Of AmericaOct 2, 2008,By John Churchill Merrill Lynch CEO John Thain has a job. ... The Reinvention of Ladenburg ThalmannOct 1, 2008,By Halah Touryalai Ladenburg Thalmann, a 129-year-old investment bank, is rapidly buying its way into the independent broker/dealer world.... Saying GoodbyeOct 1, 2008,By Anne Field Firing clients is a delicate business... Humbled But (Somehow) TriumphantOct 1, 2008,By Kristen French With reporting from John Churchill and Halah Touryalai Rescued by Bank of America from its near-death experience, Merrill Lynch is still managing to set the industry standard... Editor’s Letter: The Deposit Sugar DaddyOct 1, 2008,By David A. Geracioti Editor-In-Chief Humble pie never tasted so good... Wachovia, The Bank, Saved by CitiSep 29, 2008,By David A. Geracioti Another day, another hasty acquisition of a hurtin’ financial services firm pushed by the government—in this case, the FDIC. ... Ray Jay Wants In On Bank ActionSep 26, 2008,By Halah Touryalai Raymond James said yesterday it plans to convert itself into a bank. ... SEC Charges Miami Broker Gary GrossSep 23, 2008,By John Churchill Gary Gross, an Orthodox Jewish broker who allegedly preyed on elderly members of his own Florida congregation, has been charged with fraud by the SEC for, among other things, selling his clients unsuitable investments. ... |
Blogs & OpinionGet the latest from Registered Rep. Editor-in-Chief David A. Geracioti on his blog Von Aldo.
Get the latest from Registered Rep. Managing Editor Kristen French on her blog The Reformation.
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