Firm says 75% of brokers who stuck around will collect $100,000 or more.In February, an undisclosed number of Merrill Lynch reps will begin receiving $100,000 checks from the firm. The bonuses were promised to brokers in 1991 as part of a 10-year...
Starting in January 1999, Morgan Stanley Dean Witter will charge an annual $50 service fee for some accounts. The fee will be charged each January based on activity in the account the previous year, the firm says. Morgan Stanley Dean Witter is...
Merrill Lynch and Charles Schwab are jockeying for position to capture the small but growing share of the U.K. retail market.Although neither firm is officially discussing its plans, both have strategies in place that are intended to reach into...
Chuck Volz is the owner of Finnegan's Wake, a Philadelphia pub. That's how he got to know a young Temple University professor named Todd Napolitano who lived down the block.In 1997, Napolitano asked Volz for help in starting a new career as a...
Merrill Lynch has set up a separate marketing unit to sell its Mercury mutual funds through outside channels. A.G. Edwards brokers are among the first to sell the product.Mercury Asset Management now has six funds in the United States, the first...
Merrill Lynch brokers are buzzing about the firm's expansion into banking, most notably Merrill's sweep of cash into an FDIC-insured deposit account instead of a money market."This is huge," says one Merrill producer on the East Coast. "All the...
E*Trade, which once urged investors to "boot your broker," has relented somewhat and will start referring clients with larger accounts to full-service advisers.The firm could be providing adviser referrals by the end of the first quarter...