In a move that goes against the grain of broker compensation trends, Philadelphia-based regional Janney Montgomery Scott has increased payouts on agency stock business and managed accounts.Beginning this past month...
Forget the stories about full-service brokers going out of business. Heated competition for reps shows that full-service advisers have value, said Mark Sutton, PaineWebber's retail chief, at a media briefing Nov. 23...
Beginning this month, Prudential Securities will offer higher payouts on fee accounts and trim payouts on transaction business. The firm is also rolling out a new deferred compensation plan.At press time in early...
While the industry lauded Congress for passing the Gramm-Leach-Bliley Act, the new law also gave the Federal Reserve an entree into the SEC's turf.The law sweeps away the last remnants of Depression-era legislation...
Anyone remember when firms were partnerships?"Sure, there was a time when they didn't allow corporations in this industry," remembers James Bradford Jr., senior partner with Nashville, Tenn.-based J.C. Bradford & Co...
So, your branch manager is a cheapskate, a penny-pincher and a real tightwad when it comes to spending money on you. Here are a few suggestions on how to loosen those purse strings, offered by speakers at the National...
An arbitration panel has awarded the former manager of Salomon Smith Barney's branch in Providence, R.I., more than 1.9 million dollars in damages.Branch manager Richard Morsilli says he was ousted in April 1998 after...
Merrill Lynch brokers aren't the only ones suffering from commission-cut anxiety. Over at Prudential Securities, President and CEO Hardwick Simmons says he has taken steps--including providing brokers with ...
Salomon Smith Barney clients don't seem enamored with after-hours trading.About a month into the program, clients have placed "only a handful of trades each day," a firm spokesperson says.Most late-trading clients are...
Charities are big business in America. Community foundations alone had assets of more than $21 billion in 1997, a 24 percent increase from the previous year, according to the Columbus Foundation. And Americans also...
