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Registered Rep. January 1, 2005 Brittany Quaid	Where Ethics Don't Exist Fee-based arrangements are not right for all clients, and it's unethical (and illegal) to advise unsuitable clients to convert to them.
Registered Rep. January 1, 2003 Nicholas Ferber	Switching Has Changed During trying times like these, many reps are looking to switch jobs. When pondering a move, no question occupies more time or discussion between brokers, hiring managers and (sometimes) recruiters than the following: "What's in it for me?"
Registered Rep. September 1, 2004 Will Leitch	For Advisors, 2003 Was a Better Year The fortunes of advisors took a turn for the better in 2003, according to the annual report from the Securities Industry Association.
Registered Rep. December 9, 2003 John Churchill	Following the Money Trail It's a testament to the increasing complexity of the advisory business: Many advisors -- people whose very living depends on their ability to track the ebbs and flows of money -- are having trouble understanding whether they're being paid correctly by their own firms.
Registered Rep. December 1, 2004 Mindy Diamond	Packing the Parachute Success in the brokerage industry can be as much about mindset as anything else, so it comes as little surprise that advisors avoid negative thoughts, such as the potential necessity of a quick exit from their practice.
Registered Rep. March 1, 2003 Ross Tucker	Fees? Sigh, Ho Hum Relatively few brokers are increasing their commitment to fee-based advisory practices, even in this everything-to-gain-from-change economic environment.
Registered Rep. September 27, 2002 David A. Gaffen	Bear Market Crushing Transaction Brokers Top advisors have been making the transition to the fee-based, "wealth management" style of advisory. But surveys have shown that many brokers remained resistant to the fee-based concept.
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.
Investment Advisor October 2006 Kathleen M. McBride	What Matters Most Results from a Broker/Dealer of the Year poll offer valuable tools for b/ds to see how they are doing, on average, among reps, and where there's room for improvement.
Registered Rep. April 27, 2011 Diana Britton	Poll: Do Recruiters Promise Too Much? A former Raymond James advisor recently filed suit against the broker/dealer claiming an internal recruiter misrepresented the support, technology and compensation the firm could deliver.
Investment Advisor May 2007	The Original SEC Rule The Security and Exchange Commission's original decision on the broker/dealer exemption rule exempting brokers from regulation as an investment advisor even when they were being paid fees for investment advice.
Investment Advisor June 2008 Philip Palaveev	The New Model: The Fee-Only Broker/Dealer Independent broker/dealers must tackle head-on the causes of their frustration if they wish to survive.
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. September 10, 2003 David A. Gaffen	Existing Clients Want More Advice The good news for reps is that the world doesn't hate you. The bad news is that acquiring clients -- particularly affluent ones -- is getting a lot more tough.
Registered Rep. November 1, 2005 John Churchill	Merrill Carrot to Advest Reps Merrill Lynch has proffered retention packages to newly acquired Advest Group's financial advisors, and according to industry observers, the packages are having their desired effect.
Registered Rep. August 13, 2007 Halah Touryalai	Merrill Grabs Advisors Producing $5.5 million From Rival UBS Merrill Lynch won big last week in the aggressive industry-wide recruiting war for top advisors.
Registered Rep. September 28, 2004 David A. Gaffen	The NASD Has Clients' Number The organization will be increasing its use of unsolicited phone calls to clients within the course of investigations into broker/dealer activities -- including calls to clients who have not lodged complaints, which has angered executives.
Registered Rep. November 1, 2004 John Churchill	Exodus At UBS? This month, the contingent of PaineWebber brokers who remained at UBS following the 2000 merger will receive the final installment of their post-merger retention bonuses, perhaps triggering a mini-exodus of brokers come the first of the year.
Registered Rep. February 2, 2006 Kristen French	Brokers Learning to Play by New Rules It's no longer business as usual on Wall Street. Starting yesterday, broker/dealers must follow a new SEC rule that requires them to disclose at certain times that they may not be acting in their clients' best interest.
Investment Advisor November 18, 2010 Bob Clark	After the Flood How will independent advisors deal with the rising tide of breakaway brokers?
Investment Advisor September 2006	Woodbury Financial services Woodbury Financial is a big firm, with nearly 2,000 producing reps, and a big corporate parent in the form of The Hartford. But a simple comment on a Broker/Dealer of the Year ballot from one of Woodbury's reps was instructive on the firm's personal appeal to reps.
Investment Advisor July 2007 Jonathan Henschen	B/Ds in the Year 2010 What the future holds for independent broker/dealers: technology... outsourcing... marketing... practice management... succession planning... alternative investments... fees...
Investment Advisor September 2009	Broker/Dealer of the Year, Division II Quick company stats of The Investment Center.
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. 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.
Investment Advisor June 2008 Jonathan Henschen	Transfer Time For advisors pondering a move from a wirehouse to an independent broker/dealer with visions of large, forgivable transition loans dancing in their heads, it's time for a reality check.
Investment Advisor October 2007 Kathleen M. McBride	A Shot in the Dark When giving advice on investments as full-service reps do, what is that worth as opposed to taking orders for execution as discount brokers do? It has been difficult to analyze whether full-service representatives are getting paid what they are worth, relative to their peers.
Registered Rep. October 11, 2010 Susan Konig	Advisor Movement Should Pick Up in 2011, Experts Predict Aggressive and lucrative recruitment packages essentially prompted anyone who wanted a big check to move last year, Diamond says.
Registered Rep. January 1, 2005 David A. Gaffen	Wachovia Goes Halvesies Keep it simple. That's the idea behind Wachovia Securities new grid, one that offers a round 50 percent payout to brokers, once they pass a $9,000 production threshold.
Registered Rep. February 6, 2003 Ross Tucker	UBS Continues to Attract Talent UBS PaineWebber recently lured six more high-producing reps into its fold, offering further evidence that the firm is engaged in one of the Street's most vigorous recruiting campaigns.
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. 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.
Investment Advisor September 2009 James J. Green	How the Representatives Voted The year 2009 marked the 19th time that Investment Advisor asked its readers who are representatives of independent broker/dealers to rank their own B/Ds on 14 discrete categories, along with an overall rating.
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. January 1, 2005 Mindy Diamond	A Clean Escape, With an Accomplice Brokers tempted to leap at a lucrative job at another firm are often held back by inertia, but in increasing numbers they are finding the powerful force they need to get moving: hungry branch managers.
Registered Rep. November 11, 2010 Kristen French	Sources: New SEC Rules Won't Kill Upfront Bonuses New rules governing broker recruiting bonuses? The idea, floated by Mary Schapiro on Monday, met with skepticism this week from securities industry attorneys, compensation experts and recruiters.
Registered Rep. May 17, 2011 Diana Britton	Advisors Promised the Moon, But Get Hard Cheese Most advisors said they had been recruited to a broker/dealer at one time or another based on promises that the firm later could not deliver on.
Registered Rep. August 30, 2002 Betsy Riley	Reps' Earnings Suffered Double-Digit Loss in 2001 The SIA surveyed 34 member-firms, finding a drop in broker earnings and a move toward fee-based business models.
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. January 1, 2006 Kristen French	Too Hot to Touch The recent acquisitions of Legg Mason's retail brokerage by Citigroup and Advest by Merrill Lynch brought an interesting recruiting problem into high relief: Raiding.
Registered Rep. April 28, 2003 David A. Gaffen	Wachovia's Banking Unit Has New Deal for Reps Wachovia Securities, which offers reps several different affiliation levels, has predictably come up with a recruiting deal that has several different plans reps can choose from. This particular deal is only for those reps applying to work in the bank branches.
Registered Rep. June 1, 2015 Megan Leonhardt	Compensation Survey 2015: Crunching the Numbers The industry has come a long way in embracing a fee-based business.
Registered Rep. April 29, 2009 Halah Touryalai	Wirehouse Advisors Switch Firms in March The number of reps switching broker/dealers during the month was up 34 percent versus the number who switched in February.
Investment Advisor January 2006 Jonathan Henschen	How to: Producer Group A producer group can extend the reach -- and profitability -- of a financial advisor's practice. However, not all producer groups are created equal.
Registered Rep. November 1, 2005 Mindy Diamond	In Good Company There's a trend brewing among brokers with nascent high-net-worth books. Increasingly, these reps are not interested in making a lateral move to a wirehouse, preferring instead to hold out for a position at a firm whose brand resonates with the ultra-wealthy.
Registered Rep. February 12, 2003 Ross Tucker	Slow Growth in Fee-Based Business Relatively few brokers are increasing their commitment to fee-based advisory practices, a new report indicates.
Registered Rep. May 5, 2010 Kristen French	Small B/Ds in A Crunch, Expect More Closures, Mergers In 2010 Squeezed by investor lawsuits, rising compliance and insurance costs, as well as departing advisors and clients, some of the industry's smallest independent broker/dealers are struggling to stay afloat.
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, 2012 Diana Britton	Breaking Out: A New Era in Insurance Insurance firms constantly go through cycles of acquisition and sale when it comes to their broker/dealer subsidiaries. But the current sell cycle is different, and it may shake up how the business works.
Registered Rep. November 1, 2004 Mindy Diamond	Weighing a Merger's Implications When a securities firm is in the process of merging with another, the knee-jerk response of many reps is to scramble for the exit. Strangely enough, this hasty reaction often is a smart one.