Prudential Securities has moved its divisional management to New York, with the goal of better coordinating its strategies and improving communications among divisions.Thomas Owens, formerly from Dallas, is heading...
In what may be the first arbitration award of its kind, Salomon Smith Barney was ordered in June to pay 730,000 dollars to a former branch manager, reinstating his Capital Appreciation Plan (CAP) assets.David Dalton...
Prudential Securities seems to be leading the charge in the undeclared bidding war for brokers."It's the craziest thing," says a Prudential rep on the West Coast. "They'll pay 150 percent of gross, and they won't...
Morgan Stanley Dean Witter is requiring rookie reps to do five financial plans a year in order to meet career targets.Brokers say there is no actual quota, but that selling the firm's Financial Outlook plan is one...
Clients can be happily married and still disagree about their investments. Here's how to "broker" the conflicts.Tim is an aggressive investor. He wants high-risk, high-return stocks, tech stocks and dot-com stocks. He...
The privacy issue is still simmering, and the brokerage industry is worried it may come to a boil.The Gramm-Leach-Bliley Act (GLB) requires regulators such as the SEC to devise privacy rules that parallel provisions...
During his Hall of Fame career as a linebacker, Willie Lanier dealt with complex offenses. Now as a First Union Securities rep, he deals with quite a mix of financial services.Willie Lanier played professional...
The supposed "merger mania" among independent advisory firms is not nearly as prevalent as it is perceived to be, according to a study by Tiburon Strategic Advisors, a Tiburon, Calif., consulting firm.The 102-page...
Former National Hockey League All-Star Paul Cavallini has gone from scoring goals to helping clients reach financial goals as an A.G. Edwards rep.When Paul Cavallini played in the National Hockey League, salaries were...
Some wirehouse proprietary funds are still stuck in the mud. Portability agreements between the major firms are limited to a handful of deals despite SEC pressure to make such products transferable.A Morgan Stanley...
