Sallie Krawcheck Expects Each Financial Advisor to Double Production to $1 Million IN AMERICA
New York, NY – June 4, 2003 — PRIMEDIA’s Registered Rep. the leading magazine for investment professionals, turns its discerning eye on “The New Smith Barney” in its June cover story. Registered Rep. is among the first publications to take an in-depth look at Smith Barney as Sallie Krawcheck, the firm’s new CEO, unveils her ambitious plans to rebuild the legendary brokerage firm in the wake of the $1.4 billion research scandal and in the midst of one of the toughest market environments in decades.
David A. Gaffen, senior editor of Registered Rep. analyzes Smith Barney’s new sales strategy that will require their financial advisors to increase productivity and more than double their average annual production to $1 million, from their 2002 average gross production of $386,000. The article looks at their efforts to broaden their base of high net worth clients and expand the products and services they offer clients to include banking, mortgages, insurance and annuities. It also addresses their continued focus on selling stocks and attempts to resurrect the morale and motivation of Smith Barney’s 12,500 financial advisors. Gaffen provides a closer look at Krawcheck and the management team she has put in place to lead these efforts to create a bold new business model and a retail brokerage firm for the 21st century.
“Smith Barney is at a pivotal point in its history,” said David Geracioti, editor of PRIMEDIA’s Registered Rep. “Perhaps, no firm has as much riding on the need to get it right this time both for its brokers and its clients. Sallie Krawcheck is a new, young and ambitious leader for this firm who has put forth a very bold and aggressive plan to turn things around.”
Added Gaffen, “As the magazine for investment professionals, we’ve offered a close examination of Sallie Krawchek’s ‘march to a million’ sales strategy and provided our readers with an assessment of the challenges Smith Barney faces and the plans they’ve put forth to address them. How well this works could change the retail brokerage business significantly and our readers need to know what they should be looking for to measure its success.”
The full story will appear in the June issue of PRIMEDIA’s Registered Rep. magazine and is currently available online at www.registeredrep.com.
About PRIMEDIA’s Registered Rep. Registered Rep. is the preferred magazine of retail investment professionals. Each monthly issue reaches more than 93,000 loyal subscribers who control trillions of dollars of assets for more than 30 million investors. These powerful financial advisers are licensed to sell a broad range of investment products and rely on Registered Rep.'s rich portfolio of timely features, articles, departments and columns. Registered Rep. is part of PRIMEDIA's Financial Services group which also includes Trusts & Estates, National Real Estate Investor and Retail Traffic. These are among the 90 PRIMEDIA Business Magazines and part of PRIMEDIA (NYSE: PRM), the world's largest targeted media company. More information about the Registered Rep. can be found at www.registeredrep.com.
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