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The Motley Fool
March 17, 2006
Selena Maranjian |
Beware of Revenue Sharing Have you ever heard of a practice called "revenue sharing" by mutual fund companies and brokers? It isn't as magnanimous as it sounds. You could lose $213,000.   |
Registered Rep.
April 1, 2005
Luxenberg & French |
A Pile of Reasons Regulators and broker/dealer management have gone overboard with mutual fund disclosure. Take the case of the B-share class of mutual funds. |
BusinessWeek
June 28, 2004
Emily Thornton |
Mutual Funds: The Cost Of Full Disclosure With Securities & Exchange Commission Chairman William H. Donaldson pushing for new rules aimed at providing greater safeguards for mutual-fund investors, brokerages worry that implementing them will cost billions of dollars. |
The Motley Fool
July 19, 2006
Selena Maranjian |
Find the Right Broker When it comes to handling your investments, one size doesn't fit all. Shop around. |
The Motley Fool
November 14, 2006
Selena Maranjian |
How Steep Are Some Brokerage Fees? Investors, make sure you do your homework before you choose a broker. |
Registered Rep.
August 18, 2004
Will Leitch |
SEC Unanimously Votes to Ban Directed Brokerage The 5-0 vote surprised few. Perhaps more worrisome was the call for comment on overhauling or banning outright 12b-1 fees, which were described as disguised commissions. |
BusinessWeek
February 21, 2005
Palmeri & Carter |
American Funds' Dilemma Will too much growth make the mutual fund firm a victim of its own success? |
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. |
Registered Rep.
March 24, 2005
Kristen French |
Mutual Fund Enforcement Picks Up Steam On March 23, the SEC and NASD handed out fines in mutual fund-related punishments totaling more than $80 million to five firms. And that is likely just the beginning of a coming avalanche of similar regulatory actions, legal experts say. |
Registered Rep.
April 29, 2005
Kristen French |
Raymond James Fined, Drops Fee-Based Brokerage---Will Others Follow? Following the NASD fine of Raymond James for pushing fee-based accounts on the wrong clients, the next question is how the settlement will affect other firms that offer the same accounts, including wirehouse giants Morgan Stanley, Merrill and Smith Barney. |
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. |
The Motley Fool
December 8, 2006 |
Questions to Ask Your Broker Here is some good advice regarding questions you might want to ask your broker before handing over your hard-earned cash. Make sure you get the right answers before you start investing. |
Registered Rep.
July 2, 2003
David A. Gaffen |
Morningstar Editors Differ on Fund Disclosures Among the proposed revisions to mutual fund disclosure rules, the one relating to "soft-dollar" arrangements between fund companies and brokerages is touching off particularly spirited debate. |
Registered Rep.
February 17, 2005
John Churchill |
NASD Charges American Funds with Directed Brokerage Violation Saying it's just as impermissible to make directed brokerage payments as it is to receive them, the NASD charged American Funds---one of the country's most reputable asset managers---with paying kickbacks to brokerages for selling its funds. |
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. |
Registered Rep.
February 1, 2005 |
By the Numbers Top 10 Broker/Dealers, by Advisor Headcount: Merrill Lynch... Wachovia... Smith Barney... Morgan Stanley... etc. |
Registered Rep.
July 28, 2005
Kristen French |
Morgan Confirms Trainee, Broker Cutbacks In an internal memo, co-president Zoe Cruz announced the company would reduce the number of trainees it hires to 1,000 in 2006, from 2,400 this year, while continuing to recruit experienced brokers who focus on high-net-worth clients. |
Registered Rep.
February 1, 2006
Kevin Burke |
Hired and Fired Up The biggest brokerage businesses are showing that even in a modest market upswing they now have in place a strategy for delivering stronger and steadier sales and earnings growth. |
The Motley Fool
February 28, 2006
Selena Maranjian |
Brokerages Misbehaving The SEC has gotten an earful about brokerages upsetting customers. Investors, the more you know about the stock market and how brokerages and brokers work, the better off you'll likely be. |
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. |
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.
December 21, 2004
Will Leitch |
Ed Jones Agrees to Pay $75 Million in Revenue-Sharing Case Edward Jones has agreed to a $75 million settlement with the SEC, the NASD and the New York Stock Exchange as punishment for failing to disclose to clients information about the firm's revenue-sharing arrangements with mutual funds. |
Registered Rep.
June 1, 2004
Will Leitch |
Accused A recent mutual fund scandal at Edward Jones causes a temporary hiccup in the firm's reputation. |
Registered Rep.
July 1, 2006
Mindy Diamond |
Culture Shock Two questions that should be on the mind of regional brokers are: "Would I want to work in a wirehouse, and will it serve my clients' needs?" |
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. |
Investment Advisor
August 2009 |
B/D News Broker/Dealer news: SEC Enforcement... BOA and broker protocol... FINRA surveys retail sales practices... |
The Motley Fool
February 17, 2005
Tim Beyers |
Is American Funds Un-American? And you thought the fund scandal was over. But don't despair; there is something you can do. From now on, recognize that your broker and advisor are often salespeople first. Your portfolio will thank you for it. |
BusinessWeek
August 16, 2004
Anne Tergesen |
The 529 Ate My Tax Break The high fees that some 529 college savings plans charge can substantially erode, or even erase, their tax advantages. |
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. |
BusinessWeek
September 2, 2010
Moore & Mildenberg |
In the Battle of the Big Brokers, Merrill Is Winning Merrill Lynch earns higher profits with fewer advisers, thanks to a smooth integration with Bank of America and more cross-selling. |
Financial Planning
May 1, 2006
Bob Veres |
False Fiduciaries The so-called resolution of the SEC's "Merrill Lynch rule" does nothing to keep brokers from providing financial advice without assuming legal responsibility. |
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.
August 1, 2005
Kristen French |
Next Year's Model If the one-stop shop is out, what new formula will take its place? In many ways, the Citi/Legg Mason swap looks like an ideal prototype. The thing is, a swap like that is not likely to be repeated. |
The Motley Fool
August 2, 2005
Selena Maranjian |
Questions to Ask Your Broker You may be surprised at how your broker makes his money. Here are some important questions to ask your broker or financial advisor, as not all financial professionals operate by the same rules. |
Registered Rep.
September 1, 2004
Will Leitch |
Directed Brokerage Goes Down for the Count The first target has been hit: Directed brokerage is no more, and 12b-1 fees might be in more danger than had been thought. |
Registered Rep.
December 1, 2005
Kristen French |
Morgan Brokers Still Heading for Exits There has been a parade of top brokers who have left Morgan Stanley in recent months. The losses, which began under embattled former CEO Phil Purcell, have not abated since his replacement, John Mack, arrived in June. |
Registered Rep.
March 3, 2006
Halah Tourylai |
Third Wirehouse Coughs Up Millions In Overtime Cases Yesterday, Morgan Stanley became the third wirehouse, after Merrill Lynch and UBS, to settle class action suits with California brokers over overtime pay in the past seven months -- the second in three weeks. |
Registered Rep.
December 1, 2005
Kristen French |
Where's My Money? After California brokers won $37 million in an overtime lawsuit against Merrill Lynch in August, a slew of copycat lawsuits have been filed against other brokerage firms, many of them in New York. |
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.
March 1, 2005
John Churchill |
Earnings Forecast: Clouds Give Way to Sun The past year's earnings troubles belie the brokerage industry's sunny prospects for 2005. For advisors, the industry's recent troubles have translated into fewer jobs, but many firms are recruiting aggressively again. |
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.
October 1, 2005
John Churchill |
Fighting for Dollars The retail brokerage model in the U.S. is flawed. Why? Because advisors get too much of the revenue pie. |
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.
February 18, 2004
John Churchill |
SEC Puts Forth Mutual Fund Rules Proposals The SEC has put forth three proposals that could drastically change the way mutual funds are sold. |
Registered Rep.
August 1, 2004
Will Leitch |
The Reformation When the scandal craze that has gripped the securities industry first began two years ago, few in the industry recognized how deep it might go. |
The Motley Fool
May 20, 2004
Tim Beyers |
American Express Unit in Scandal The broker could be a target of a regulatory inquiry into mutual funds revenue-sharing. How can you tell if your own broker or advisor has a conflict of interest? |
Registered Rep.
November 1, 2002
David A. Geracioti |
Looking for Work -- On the QT Are you a broker looking for a job, but afraid you'll be found out? A new Web site, privateclientpro.net, provides a fast, anonymous and comprehensive listing of opportunities. |
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.
October 1, 2002 |
Warm Bodies Brokerages ranked by number of reps. |
The Motley Fool
November 21, 2006 |
How to Open a Brokerage Account Before you buy stocks, you have to figure out how you'll buy them. |
