Tag:
stockbrokers
Latest Headlines
Latest Headlines
High net worth customers use multiple advisors
Nearly 57 percent of U.S. households with at least $10 million in assets are working with five or more advisers, according to a new Cerulli Associates report. And about 64 percent are working with at least four advisers. That is a huge jump from 2008, when barely 16 percent of such wealthy ho
Merrill Lynch to better train novices
Bank of America Merrill Lynch seems bent on creating a stronger, more laden crop of young brokers. This seems like an inevitable way to grow your ranks, as recruiting fully formed brokers has proven prohibitively expensive. And the concept makes sense, as long as the novices stick with the firm.
FINRA wants to regulate advisors
The battle over who will regulate investment advisors continues to rage. Dodd-Frank had directed the SEC to conduct a study and gave the agency the right to make rules in this area . The SEC subsequently came out with a proposal to impose a uniform fiduciary standard, as of now undefined, on br
Are branch managers expendable?
If you talk to hardcore wirehouse stock brokers about their branch managers, you might hear some condescending talk about how the guy--they are invariably guys--is freeloading off the big producers in the office and whatnot. Some think the manager really ought to be working for them. Others might
A lot of decisions to be made after Dodd-Frank passage
The Dodd-Frank bill may be historic but the final impact on the financial services industry will not be known for years, as many planks require a lot of study and subsequent decisions by regulatory agencies. The proliferation of these study-now-act-later provisions amounts to a huge win for the in
Bank of America's Merrill Lynch conundrum
If you take a look at the package that Bank of America is offering Merrill Lynch brokers, it's clear that it is mainly interested in keeping the really top producers--the big bulls in the Thundering Herd, the ones generating more than a million in commissions. Incentives for the lesser ones are no
