Wachovia advisors (including legacy A.G. Edwards types) are clearly exhausted from the ride their firm has taken them on this year and it's not over yet. Wachovia has been near the bottom of the heap in our Broker Report Cards for the last five...
Just a few months ago, working for Merrill Lynch was the pinnacle of achievement for many in the Merrill herd: Eighty percent of Broker Report Card respondents from Merrill said their firm was the best in the business. Only Edward Jones, where...
Schwab Institutional had an awesome year in 2008, stealing clients and assets from wirehouse advisors and expanding its lead in the RIA custodian business.
But not the bad kind. Now that the wirehouse model is kaput, working for a bank has new appeal. The bank brokerage space has come a long way from its free toaster days.
Two years ago, Morgan Stanley had an image problem. Financial advisors were so down on the firm then plagued by executive infighting, badly in need of investment in retail brokerage and bleeding advisors you couldn't have paid a broker 500 percent...
The ongoing debate about who owns client relationships has yet to be won. Last week, the comment period closed on a proposed SEC amendment to existing client-privacy rules, which would suggest that, ultimately, broker/dealers own the client...
Regardless of where you work, or what kind of practice you have, the last nine or 10 months have probably been tough on you and your clients. Of course, some firms have fared better than others, so what better time than now to hear what clients...
It has been an embarrassing time for most big Wall Street banks. In the third quarter of 2007, NYSE-reporting firms posted their worst quarterly performance on record, collectively amassing $3.8 billion in losses. Of course, their balance sheets...