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Registered Rep. November 18, 2005 Kristen French	Smith Barney Cuts Pay for Smaller Brokers The new pay scale was announced to brokers internally in October and will take effect in January.
Registered Rep. January 1, 2003 Gaffen & Geracioti	The Future of the Industry The broker has to be a person who can handle every aspect of a client's financial life. The broker must evolve into a kind of chief financial officer for the client -- managing everything from investments to insurance to estate planning to mortgage banking.
Registered Rep. January 31, 2006 John Churchill	A.G. Edwards Cutting Compensation As the brokerage industry moves upmarket and seeks better return on equity and profit margins, the pressure for reps (and their firms) to produce continues to increase.
Registered Rep. December 1, 2002 David A. Gaffen	Light A Candle, or Curse the Darkness For brokers and financial advisors, 2002 may be remembered as the year in which those who knew they had the right stuff redoubled their efforts to elevate their skills and become the kind of advisors who could survive the bear market and build a 21st century practice.
Registered Rep. December 1, 2002 David A. Gaffen	Manning the Phones When wirehouses and other major brokerages introduced the notion of call centers a couple of years ago, brokers were suspicious. Although they understood the logic behind the move, it was a difficult adjustment. But call centers are here to stay and brokers are learning to live with them.
Registered Rep. October 1, 2002 Rick Weinberg	Morgan Stanley Boosts Pay for Fee Business Morgan Stanley unveiled a new compensation plan for brokers that rewards fee-based business and penalizes transactional business.
Registered Rep. December 12, 2006 Halah Touryalai	Smith Barney Pay Package: Perks Balance Cuts? This week, Smith Barney will become the first firm to make a change to its payout grid as a result of the securities industry's recent battle over broker overtime pay and so-called chargebacks.
Registered Rep. February 1, 2003 David A. Gaffen	An Employer's Market It's a hirer's market out there, but brokerage firms have not stopped recruiting. In fact, although it is quieter than usual, many firms are still willing to pony up big bucks in hopes of attracting top-shelf talent.
Registered Rep. November 1, 2006 John Churchill	A.G.E. to Catch a Rep Instead of buying brokers like its peers with offers of big upfront forgivable loans, A.G. Edwards is offering its own reps bonuses for successfully recruiting good reps.
Registered Rep. March 18, 2005 Will Leitch	Wachovia: On the Recruiting Warpath Wachovia Securities, the third-largest brokerage in the country, has announced an "aggressive" new strategy: the creation of the Individual Investor Group, entirely devoted to the recruitment and retention of individual brokers.
On Wall Street January 1, 2009 Frances A. McMorris	The 10th Annual Recruiters Roundtable Packages get lowered. Brokers get hired. Markets have tanked. Retention offers are shrinking. And yet, according to the experts in our 10th Annual Recruiters Roundtable, there are still opportunities in the retail brokerage arena, if you know where to look.
Registered Rep. April 1, 2003 David A. Gaffen	Your Book or Your Life! What would you do if you lost your book? Where would you turn for new customers? Where could you be hired? Those are questions that keep many advisors up at night.
Registered Rep. November 1, 2005 John Churchill	The Money Squeeze There's one thing that stands between the big retail brokerage firms and the high profit margins that the executives of these firms and their investors seek: the financial advisor.
The Motley Fool August 25, 2005 Selena Maranjian	Should Brokers Get Overtime Pay? Commissions. That's an important word to consider when you think about how your broker may be serving you. For most investors, a solid online brokerage with low fees and a broad range of services is all one needs.
Registered Rep. February 23, 2007 Kevin Burke	Disgruntled Smith Barney Brokers Are Voting with Their Feet Sixty-nine brokers left Smith Barney, just ahead of a three-day weekend. Fridays before a long weekend are historically prime times for unhappy brokers to make a clean break, but the large number of brokers taking off on a single day is alarming.
Registered Rep. September 25, 2002 Rick Weinberg	The Axe Falls at DB Alex. Brown Deutsche Bank Alex. Brown yesterday began laying off employees.
Registered Rep. November 22, 2005 John Churchill	For Merrill and Smith Barney Acquisitions, It's Wait n' See The financial firms' respective purchases would have added hundreds of regional brokers to their retail brokerage units, but many of these departing brokers have decided they don't want to work for a big firm and are finding sweet recruiting deals at smaller shops.
Registered Rep. September 1, 2005 Kristen French	Ready to Punch a Time Clock Merrill Lynch paid $37 million to settle claims that it owes thousands of former brokers overtime pay. Now, class-action attorneys smell blood.
Registered Rep. July 26, 2005 Kristen French	Morgan Trainee Program Could Get Whacked John Mack is moving quickly to get Morgan Stanley's ailing retail brokerage in shape.
Registered Rep. December 1, 2002 Ross Tucker	Happy Holidays! You're Fired. The ax will fall at year's end for some 700 of 13,500 Morgan Stanley brokers. Some branches will be closed entirely.
Registered Rep. January 7, 2011 Kristen French	Will the SEC Curtail Recruiting Bonuses? With brokerage revenues getting squeezed and regulators sniffing around compensation issues and potential conflicts of interest, it's possible that 2011 could bring some changes to broker comp plans.
Registered Rep. March 1, 2005 Steve Watkins	Money in the Bank Bank-owned brokerage companies have awakened to the changes they need to make to attract top-shelf talent, and brokers are taking notice.
Registered Rep. January 13, 2003 Gaffen & Geracioti	Wachovia-Prudential: For Real This Time? Can you say Pru-chovia? Prudential Securities and Wachovia Securities are very close to an agreement to join forces, one that was scuttled earlier in the year, reportedly due to differences in who would control the unit.
Registered Rep. August 10, 2004 David A. Gaffen	Fleeing Brokers Can Take Some Client Info Three of the nation's largest brokerage firms have agreed to make it easier for registered reps to take clients with them when they change firms, eliminating a lot of the cloak-and-dagger antics that brokers often suffer when making a move.
Registered Rep. December 11, 2002 Rick Weinberg	PaineWebber Cuts Bonuses, Expense Accounts Brokers at UBS PaineWebber received a double hit of bad news this week in this tough time for brokerages. Not only were they informed that the bonuses they receive for bringing in new assets were being cut, but expense accounts are being trimmed as well.
Registered Rep. March 1, 2003 David A. Gaffen	Wach-Pru: Rock Steady, or Not Ready? Wachovia's courtship of Prudential Securities, for months one of the worst kept secrets on the Street, has come to fruition. Is the new organization capable of competing in the elite league it has entered?
Registered Rep. October 1, 2002	Warm Bodies Brokerages ranked by number of reps.
On Wall Street September 1, 2009 Helen Kearney	On Life Support a Year Ago, Merrill Pays for Top Producers Merrill, under BofA, seems to be on the hunt to add to its ranks, and it's offering a very competitive package that has almost unlimited upside for top producers.
Registered Rep. January 1, 2003 Rick Weinberg	UBS PaineWebber Cuts Bonuses, Expense Accounts Brokers at UBS Securities received a double hit of bad news in early December. Not only were they informed that the bonuses they receive for assets under management were being cut, but expense accounts are being trimmed as well.
Registered Rep. February 1, 2005 Mindy Diamond	Customize Your Career As a result of broker dissatisfaction with the status quo, the increasing clout of top producers (at some firms) and the need for firms to keep successful reps happy, we're beginning to see quite a bit more flexibility.
The Motley Fool September 24, 2004 Nathan Slaughter	A.G. Edwards Misses the Mark The full-service broker reports Q2 earnings just shy of estimates.
Registered Rep. October 1, 2002 Rick Weinberg	Brokers Fear Arbitration... With arbitration cases on the rise, many brokers are worried about the prospect of being dragged through a legal process that, because of the current environment, some believe is heavily slanted toward the client.
Registered Rep. November 21, 2002 Rick Weinberg	Morgan Stanley Firing 950 Brokers Morgan Stanley is firing 950 brokers, according to the various sources.
Registered Rep. April 1, 2006 Mindy Diamond	On the Rebound Big firms are sending low-producing brokers messages that they are no longer as wanted as they once were. Brokers who see the handwriting on the wall, may have better options if they jump to another firm before being pushed.
Registered Rep. May 31, 2007 Kevin Burke	Wachovia Buys A.G. Edwards for $6.8 Billion, Creating New Rival to Merrill, Smith Barney The deal puts Wachovia among the top three competitors in retail brokerage -- in terms of both assets and advisors -- and retail banking.
Registered Rep. May 1, 2006 Kevin Burke	Failure to Launch Last year, Merrill Lynch's deal to buy Advest was regarded as a savvy transaction. Eight months later, with about 100 reps left, the deal math looks considerably worse. But Merrill may soon have an opportunity to see if it can do better.
Registered Rep. December 1, 2005 Kristen French	Merrill Lynch: Still Wirehouse Queen Merrill reps like what they see. This year, the firm kept top honors among wirehouses in the Broker Report Card surveys, and beat its own overall score from last year.
Registered Rep. October 1, 2004 Mindy Diamond	Prospects Grim for Wirehouse Brokers with Hybrid Books of Business Hybrid brokers -- those with both retail and midmarket institutional accounts-- at wirehouses might soon be a thing of the past, but that doesn't mean those with this business model have no options.
Registered Rep. June 1, 2005 John Churchill	Wall Street's Big Curtain Call How baby boomer brokers move into retirement over the next 10 to 15 years will change the face of the industry in many ways.
Registered Rep. November 1, 2005 Kevin Burke	Reshuffling the Decks There is an unusual amount of reorganization afoot, with Merrill, Wachovia, UBS, Morgan Stanley and Smith Barney all shaking up their retail brokerage operations. Some of the moves have direct implications for retail advisors.
Registered Rep. March 1, 2007 John Churchill	Sallie's Back At first glance, this second coming of Sallie Krawcheck probably looks like a cakewalk compared to her first adventure in 2002. But, make no mistake: Smith Barney is not the awesome brokerage it appears to be on paper.
BusinessWeek August 30, 2004 Amy Borrus	Brokers Aren't Advisers The line between brokers and advisers was clear for decades. But in 1999, the Securities & Exchange Commission blurred that line. Now, to protect investors, the SEC must redraw a clear line.
Registered Rep. November 30, 2005 Kristen French	Wachovia Shaves Payout, Levels Charges on In-House and Outside SMAs After simplifying it's payout structure earlier this year, Wachovia Securities announced that it would make some more tweaks in 2006 and raise ticket charges on some in-house money-management products to match those of third-party products.
Registered Rep. September 1, 2005 Kristen French	Gorman to the Rescue? Morgan Stanley brokers should expect a revolution when James Gorman takes the helm of the retail unit.
Registered Rep. July 1, 2006 Kristen French	James Gorman's First Marking Period In his first four months as head of Morgan Stanley's brokerage unit, James Gorman wasted no time showing that a new regime was in place. But he hasn't convinced all the troops that it's worth sticking around to see how his turnaround plans play out.
Registered Rep. June 1, 2012 Jerry Gleeson	Rep.'s Annual Compensation Report 2012: The Chink in the Ka-Ching Small household accounts have always been the bane of brokerages' existence, and advisors who work with such clients do so at the peril of their own compensation.
Registered Rep. July 13, 2007 Susan Konig	Post Acquisition, A.G. Edwards BOMs Have Tough Job to Do With the Wachovia purchase of A.G. Edwards, it's not just A.G. Edwards reps (some of whom fear that the AGE corporate culture will change) who are worried. So are acquired firm's branch managers.
Registered Rep. June 1, 2005 Kristen French	Star Wars Recruiting competition between the top brokerage firms is fiercer than ever, and Morgan Stanley is currently wielding one of the most powerful deals on Wall Street.
The Motley Fool October 25, 2007 Dan Caplinger	Brokers for Expert Investors Have you outgrown your brokerage account? When you're just getting started with investing, comparing brokerage firms is pretty easy. But when you go beyond the basics, you need a broker who provides more.
Registered Rep. February 21, 2006 Kristen French	At Morgan Stanley, the Gorman Era Dawns At Merrill, James Gorman was able to take a top team and make it more effective -- at Morgan Stanley, he inherits a demoralized, decimated sales force that trails its peers in assets under management, productivity and profit margins.