Tag:
Smith Barney
Latest Headlines
Latest Headlines
Morgan Stanley loses discs with critical customer data
For all the talk of cyber-criminals and the threat they impose to computer networks, there are a myriad of other threats to data security that are hardly high-tech in nature.
Consider Morgan Stanley, which has just suffered the dumbest of all data breaches. Computer discs containing sensitive
Citigroup loses big in arbitration
Citigroup's ( NYSE: C ) Smith Barney has suffered the biggest loss ever in a FINRA securities arbitration case. Two investors, apparently neighbors, were awarded a total of $54.1 million, the New York Times reports.
What could a broker possibly do to merit that kind of an award? The two
Morgan Stanley Smith Barney to cull low producers
The life of a stockbroker at one of the big wirehouses is not easy, especially if you are just starting out. Let's just say the whole idea of cold calling is not passé at every firm. But if you want to make it in the big leagues, you've got to find a way to produce. If you don't ...
Morgan Sta
Small tech and services start-ups target wirehouses
Top producers continue to stream out of the traditional wirehouses like Bank of America Merrill Lynch and Morgan Stanley Smith Barney. Many of those leaving have aligned with an independent advisory firm or started their own. These firms are usually built on platforms offered by the likes of Charl
Fiduciary vs. suitability debate comes to a head
Investment advisors and brokers are watching the industry change before their very eyes. It could change a lot more depending on how the SEC handles some big issues. The biggest of these is the "fiduciary standard vs. suitability" issue, which has defined the adviser vs. broker debate for a de
More brokers flee the wirehouses
Are wirehouse brokerage firms doomed? Let's just say they are finding it hard to hang on to their top brokers. We've noted before that top producers are continuing to be recruited by independents, and despite some rules that make it hard to switch, more top producers are doing so.
This is bad
James Gorman stamps his brand on Morgan Stanley
One issue about the ascension of James Gorman to CEO of Morgan Stanley ( NYSE: MS ) was whether he would truly be the man in charge or a man simply answering to the former CEO but current chairman, John Mack, a big personality to be sure. Turns out Gorman has had no trouble stamping his brand on
Fidelity aims at top producers at wirehouses
So who's winning the war between the independent financial advisors and the behemoth wirehouses? Fidelity Investments thinks the independents are winning big.
The custody units of Charles Schwab and Fidelity took in $80 billion in the first nine months of 2010, according to a Fidelity executiv
Morgan Stanley: No buyers remorse over Smith Barney
We've speculated whether Bank of America regrets its deals for Countrywide and Merrill Lynch. We've also wondered if perhaps JPMorgan has had second thoughts about its Washington Mutual deal. But no one thinks Morgan Stanley has any buyer's remorse over its Smith Barney deal.
James Gorman, CEO
Model for U.S. brokerages: European private banks
David Carroll, Wells Fargo's executive vice president for wealth, retirement and brokerage, made an interesting projection about the brokerage business at a recent Reuters summit. He predicted that within five years many top U.S. brokerages will resemble European private banks. That is they wi
