A.G. Edwards in September renamed its producers "financial consultants," dropping the former title of "investment broker." The firm gave reps the option of continuing to use the investment broker moniker, however.
One Northeast-based Edwards rep calls it "earthshaking news" for the stodgy firm. The name change was put to all employees for a vote, the broker says. An Edwards broker in California says some of his colleagues were complaining about the "investment broker" title, so the firm let the sales force vote on several possible new titles.
An A.G. Edwards spokesperson confirms that branch offices were consulted, and says the new name "better communicates the advice and counsel we provide to our clients."
The California rep says he agrees with CEO Ben Edwards, who supposedly told the troops he didn't feel titles were all that important. It's what you know, not what you're called that's important, the rep says. A fancier title "may sound impressive, until you open your mouth and go from first vice president-investments to schmuck."