March 1, 2007
REPorts
The New SRO
Mar 1, 2007 12:00 PM, By Kevin Burke
Plans for the NYSE/NASD regulatory consolidation are moving quickly toward a projected April 2 deadline. If approved by the SEC, the new single self-regulatory...
Arbitration Tweaks
Mar 1, 2007 12:00 PM, Karen Donovan
Nearly everybody seems to complain about arbitration (well, accept for the firms). In late January, the SEC tried to help improve the system by offering...
Comings & Goings
Mar 1, 2007 12:00 PM
President and CEO of Janney Montgomery Scott, James Wolitarsky, will retire from the firm on June 30, 2007. PIC UBS appointed Michael Roberts managing...
No Love for Ameriprise
Mar 1, 2007 12:00 PM, Kevin Burke
A disgruntled YouTube subscriber, who goes by the screen name has posted a video that parodies Ameriprise's baby boomer retirement campaign. The mock...
60 Seconds...Mark Salzinger
Mar 1, 2007 12:00 PM
It's hard to pick a great mutual fund. By now, everyone knows that past performance is no guarantee of future performance. But, somehow, the editors at...
Blotter
Mar 1, 2007 12:00 PM, John Churchill
SEC Front Running Probe: The SEC is investigating at least 10 securities firms for leaking mutual fund stock-trading data to hedge fund clients and others....
How Sweet It Is?
Mar 1, 2007 12:00 PM, Kevin Burke
Working as a financial advisor is a pretty sweet gig. A recent survey conducted by Money magazine and Salary.com ranked financial advisor as third-best...
International Flight
Mar 1, 2007 12:00 PM, Kevin Burke
Retail investors are notorious for chasing performance, and they may be at it once again. Over the last three years, foreign mutual funds have posted...
Depressing
Mar 1, 2007 12:00 PM, Kevin Burke
Last year Americans spent all of their money, and then some, buying stuff: The U.S. personal savings rate fell to -1 percent, its lowest level in 73 years,...
Cold Call: Mark Hall
Mar 1, 2007 12:00 PM, Halah Touryalai
Registered Rep.: The ideal client is (in three words) Mark Hall: Willing to listen. RR: The ideal advisor is MH: An excellent listener. RR: You've partnered...
Going Out on Top
Mar 1, 2007 12:00 PM, Kevin Burke
Numeric Investors has exited the mutual fund business. On Feb. 23, the boutique Cambridge, Mass., money manager liquidated all of its retail mutual funds...
Gobbling Up RIAs
Mar 1, 2007 12:00 PM, Halah Touryalai
The folks at Focus Financial are on a roll. The RIA holding company, which began operating just over a year ago, snatched up three more RIA firms in late...
Correction
Mar 1, 2007 12:00 PM
In The Glitch (January 2007), it was reported that NASD had not corrected the CRD record of former Piper Jaffray broker trainee Mark Schley after the...
Cover Story
Sallie's Back
Mar 1, 2007 12:00 PM, BY JOHN CHURCHILL
When she was brought in to run Smith Barney back in 2002, Sallie Krawcheck was heralded as a savior the single best person possible to buff Smith Barney's...
Features
Gorman Gets It
Mar 1, 2007 12:00 PM, BY KRISTEN FRENCH
Morgan Stanley's retail brokerage is humming. Is it the magic of one man? One man can't take all the credit for a $5.5 billion-a-year revenue organization....
Defamed?
Mar 1, 2007 12:00 PM, BY KAREN DONOVAN
YOU CAN BARELY MAKE OUT THE FACE of Chaskie Rosenberg in the photocopy of a newspaper advertisement in his court file. In the late 1990s, Metropolitan...
Investing
Aging Bull
Mar 1, 2007 12:00 PM, By Stan Luxenberg
After stagnating in 1999, real estate funds soared. During the next seven years, the fund category returned 21.8 percent annually, according to Morningstar....
The Sun Is Rising
Mar 1, 2007 12:00 PM, By Liz Peek
Over the past 15 years, the Japanese stock market has had more false starts than a high school track meet. Last April, for instance, the Nikkei 225 index...
The Independent Life: Special Report
The Road to Independence
Mar 1, 2007 12:00 PM
Those are the words uttered by many independent reps who have made the leap from a large national full-service firm to independence. For so long, they...
The Process
Mar 1, 2007 12:00 PM, BY HALAH TOURYALAI
Ask five reps what they consider the most important feature at an independent broker/dealer and chances are they will give you five different answers....
Aftermath
Mar 1, 2007 12:00 PM, BY HALAH TOURYALAI
On Sunday evening, Aug. 28, 2005, the night before Hurricane Katrina was to hit Gulfport, Miss., financial advisor Bob Sawyer reckoned it might be a good...
The Practice
Meet Your Future Clients
Mar 1, 2007 12:00 PM, By Anne Field
Last November, Michael Domingo and his partner, John Hetzel, launched their own advisory firm in Dallas with their eyes on an unusual prize: 20-somethings...
Signature Guarantees
Mar 1, 2007 12:00 PM
I am a registered representative and work out of a credit union. The credit union has a Medallion Stamp Signature Guarantee. We try to follow the guidelines...
Sticker Shock
Mar 1, 2007 12:00 PM, By Stephen D. Gresham and Glen E. Gresham
My father and I had the same reaction when we looked at our copies of The New York Times on a Saturday morning at the end of January. On the front page,...
Don't Mess with Suspension Rules
Mar 1, 2007 12:00 PM, By Bill Singer
If you are like most working people, you go to the office every day. And, if you like your job, it can even be hard to stay away. But if you get a suspension...
Of Myths and Moving: Revisited
Mar 1, 2007 12:00 PM, By Mindy Diamond
It is hard to believe that it has been two-and-a-half years since the inaugural Career Moves column, entitled Of Myths and Moving, was published in the...
Business Goals: Motivators or Mirages?
Mar 1, 2007 12:00 PM, By Matt Oechsli
As the first quarter of 2007 draws to a close, it's a good time to revisit your business plan: those goals you established at the end of last year, the...
A Last-Minute Stop at the IRA Shop
Mar 1, 2007 12:00 PM, By Kevin McKinley
Clients are bombarding you with cost-basis questions. There's a steady stream of new directives from It's becoming impossible to find a couple hours a...
Custody and Clearing Special Supplement
The Upstarts
Mar 1, 2007 12:00 PM
Let's face it: The custody and clearing business isn't exciting to most advisors. Execution of trades is regarded as an invisible utility. Advisors just...
Meet the New Davids
Mar 1, 2007 12:00 PM, BY CHRISTOPHER O'LEARY
For several years, Regal Securities, a Glenview, Ill.-based brokerage firm, handled its clearing in-house. But, then the firm handed off the job of settling...
The Cost-Basis Headache
Mar 1, 2007 12:00 PM, BY CHRISTOPHER O'LEARY
Steve Burnett, the president of Sacramento, Calif.-based Hanson McClain, once went to a client's house to get some information about the stocks he held....
The Small Business Advisor
It Takes a Team
Mar 1, 2007 12:00 PM, By Glenn R. Ayres, partner, Doud Hausner & Associates, San Diego, and Michael J. Jones, partner, Tho
The most common sticking point for the family-business owner and his successors is driven by fear. Even though succession planning promises great financial...
The Retirement Game
Mar 1, 2007 12:00 PM, By Anne Field
Want to goose your revenues? Of course you do. But how? For an increasing number of advisors, one solution is targeting small companies' 401(k) plans....
Endpiece
Are You the Peyton Manning Type?
Mar 1, 2007 12:00 PM, By Kristen Dodge
I was watching the Indianapolis Colts play football last season (pre-Superbowl victory) with my husband and couldn't help but notice quarterback Peyton...
