Wachovia Securities in Technological PurgatorySep 27, 2004,By David A. Gaffen Glitches aside, former Prudential Securities advisors are concerned that the new technology doesn’t measure up to Pru’s old system.... SIA Reports Big Drop in Second-Quarter ProfitsSep 16, 2004,By Will Leitch Is a 61 percent decrease in profits from one year to the next a “reversion to the mean” or an ominous sign of cloudy skies ahead? It depends on whom you’re talking to.... A Broker or An Advisor?Sep 13, 2004,By John Churchill If you are like most registered reps, your card probably says you are a financial advisor—and not a stockbroker. Indeed, whether you work at a large Wall Street brokerage or a small broker/dealer, the odds are you are holding yourself out as a well-rounded financial advisor and not just, say, a stock jockey.... College Savings Boot Camp in New YorkSep 10, 2004,By Anne Field Ask a roomful of advisors what they think about 529 college savings plans and you’ll get a roomful of answers. That’s why about 25 of them converged in New York for the first day of a one-and-a-half-day workshop, called 529 Boot Camp, held by 529 guru Joe Hurley, in New York.... Sharp Words for the NASD By Raymond James’ AverittAug 31, 2004,By David A. Gaffen The CEO of RJFS doesn’t hold back at the firm’s conference in sunny Utah; meanwhile, RJFS’ growth has so far been strong in 2004.... SEC Fines Seven More Broker/DealersAug 26, 2004,By Will Leitch The SEC has nailed some additional broker/dealers for failing to disclose payment relationships they had with companies their research departments covered.... Meting out Justice: NASD Issues 'Extraordinary Remedy' on Broker/Dealer for Market-Timing AbuseAug 20, 2004
The regulator also temporarily suspended the firm’s ability to open mutual fund accounts for new clients.... SEC Unanimously Votes to Ban Directed BrokerageAug 18, 2004
In a move that surprised few, the SEC voted 5-0 Wednesday to ban “directed brokerage,” in which mutual fund managers direct trades through brokerages’ trading desks as a reward for them selling their funds to retail clients. Perhaps more worrisome was the SEC’s call for comment on overhauling or banning outright 12b-1 fees, which it described as disguised commissions.... FRC Says Wholesalers About to Go Through Wholesale ChangesAug 18, 2004,By Will Leitch A new study from Boston-based Financial Research Corp. confirms what many in the industry have suspected for a few years now: The world of wholesalers is about to change dramatically. ... Hidden Market-TimersAug 10, 2004,By John Churchill A new study says enforcement policies don’t work at fund intermediaries.... Fleeing Brokers Can Take Some Client InfoAug 10, 2004,By David A. Gaffen Three of the largest firms—Merrill, Smith Barney and UBS—have a common plan for reps switching firms now.... The Beginning of ReconstructionAug 3, 2004,By John Churchill A little more than a year after the historic $1.4 billion settlement, the securities industry has quietly begun the process of winning back what it gave away in those scandals.... Fallout From Schwab Shake-Up BeginsAug 2, 2004,By Will Leitch It didn’t take long for Charles Schwab to start making wholesale changes after taking back control of his firm last week.... Back to the Future?Jul 20, 2004,By Stan Luxenberg Schwab’s decision to replace CEO David Pottruck may signal a return to its discount-broker roots.... Several Large Producers Leave Smith BarneyJul 19, 2004,By David A. Gaffen Smith Barney has been hit with a few high-profile defections in the last month or so, as several large producers have taken their lucrative businesses to other firms.... Ryan Beck Increases Recruiting Offers, Starts Ad CampaignJul 7, 2004,By David A. Gaffen Ryan Beck, a regional firm concentrated in the Northeast, is stepping up efforts to improve its name recognition and is also getting more aggressive in recruiting.... Merrill Shuffles Branch ManagersJul 7, 2004,By David A. Gaffen Merrill Lynch in recent weeks has shuffled a number of branch managers to new offices. The new assignments are partially due to promotions and partially a reaction to managers leaving the firm, according to sources.... Prudential Deferred Comp Under Fire AgainJul 1, 2004,By John Churchill In recent years, Prudential Securities has fended off numerous challenges to the legality of its deferred compensation plan, known as MasterShare, but it might have more than the usual amount of trouble shaking Yaakov Holansky’s case.... Hard Questions at Soft-Dollars ConferenceJun 29, 2004,By Will Leitch The SIA Soft Dollars and Institutional Brokerage Conference took aim at a wide range of issues related to soft-dollar payments in the brokerage industry, but most of the conference’s attendees were there to find out one thing: Can the practice be saved?... Advisor Concern and Heated Exchanges at Morningstar ConferenceJun 25, 2004,By David A. Gaffen The ability to sell mutual funds effectively was on the minds of advisors at the 16th annual investment conference.... Morgan Stanley Sued by New Hampshire RegulatorsJun 24, 2004,By John Churchill New Hampshire securities regulators are suing Morgan Stanley, charging that in 2002 the firm encouraged its brokers to sell proprietary mutual funds by using sales contests, a violation of NASD rules.... UntitledJun 18, 2004
A tactic traditionally known as the 90/10 strategy enables retail and institutional investors to achieve two goals simultaneously: capital preservation... UntitledJun 18, 2004
The covered combination is a three-part strategy that sets targets to sell/reduce your current stock position or accumulate additional shares. The first... Wall Street’s Profits, Jobs, Compensation Are On the RiseJun 15, 2004,By John Churchill Wall Street had its third best year ever in 2003, and 2004 is shaping up to be at least as good, according to the Securities Industry Association.... BofA Makes Quick Work of QuickJun 10, 2004,By Will Leitch After ownership changes, management musical chairs and shifting business plans, Rhode Island-based Quick & Reilly is about to be a name of the past. Bank of America announced Thursday that the discount brokerage will be folded into Banc of America Securities and that the firm’s upper management is being reshuffled. At the end of the year, the Quick & Reilly name will be gone. ... |
Current Issue Promises Will Be BrokenBy Addison Wiggin Are you factoring future Social Security payments into your clients’ financial plans? Bad idea. advertisement
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