Householding accounts of unrelated clients

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Apr 6, 2010 1:36 pm

A broker/dealer executive recently told me that this was going on at the wirehous firms....because FAs had some smaller clients they didn't want to have to give up, or dump into call centers, despite rising client account minimums.....can anyone tell me if they have done this, or seen others do it?

Apr 6, 2010 3:08 pm

[quote=RR editor]

make that "wirehouse" not wirehous

[/quote]Irony - RR editor not being able to edit his original post...

As for your question, I would be surprised for someone to admit this even if it is true.