The Gorman Miracle?
Ok. Morgan employees seem to LOVE rumors. No surprise, considering there was plenty of stuff worth rumoring about last year, and the mill hasn’t yet shut down. But what’s this about Mack routing revenues from other parts of the firm to retail? With some managers, internally, calling it, jokingingly, “The Gorman Miracle” ? anyone think this holds water? Or are people just surprised and impressed by how quickly, and how well, the numbers have improved on the retail end?
1.8% proft margin. offering 200% deals. I smell prep for a sale or merger.
1.8% profit margins? the retail brokerage had margins of 11 percent in the second quarter – and average annualized revenue per advisor of $653,000…
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