On Wall Street
Morgan Stanley Smith Barney Boosts Recruitment Package
June/08/2010
Let the game begin! With MSSB's move, can Merrill be far behind? Read more . . .
Under Pressure
June/01/2010
Last month AFA Financial followed GunnAllen in shuttering its doors. Will more small independents close? Read more . . .
Surveying the Advisor's Job Market
May/28/2010
Opinionated recruiter Danny Sarch gives a no-holds-barred view on what type of firm advisors should be choosing. Read more . . .
UBS Wealth Unit Makes Progress, Still Has a "Way to Go"
May/04/2010
UBS Wealth Management Americas had $6.6 billion in outflows, but less than the previous quarter. Read more . . .
Morgan Stanley Shuffles The Deck
April/01/2010
Depending on who you ask, the executive changes at the firm are either business as usual, or another indication of the Morgan Stanley culture overtaking Smith Barney. Read more . . .
UBS Casts Itself As The Goldilocks of Wealth Management
April/01/2010
It’s not too big and it’s not too small. It’s just right, CEO Robert McCann says. Read more . . .
Wells Fargo Looking To Add 1,400 Advisors
February/05/2010
Second major hiring move this week by a banking company, following BofA's announcement that it would add 2,000 advisors. Read more. . . .
The Hire Powers Speak Out
January/01/2010
Whatever direction you take your career next, our Recruiters Roundtable will tell you the opportunities and pitfalls that await you at the wirehouses, regionals, boutiques and independent shops. Read more . . .
Update: Experts Reexamine UBS Recruiting Plan
December/17/2009
One source familiar with the deal says it also includes bonuses in the second and third years. Read more . . .
Back on the Front Lines
November/01/2009
As Morgan Stanley Smith Barney and UBS move to a complex management structure, many long-time branch managers are scrambling to rebuild their client books.
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Fewer Advisors Are Switching Firms
October/06/2009
Wirehouse advisors are sticking with their channel. Read more . . .
Your Manager's Job is Worse Than Yours
May/01/2009
Less money, less security and an absurd level of responsibility have conspired against the branch manager. Read more . . .
Uncertainty Changes The Rules
February/23/2009
On Wall Street's Annual Advisor Compensation Report: Values are down, anxiety is up, loyalty is gone and uncertainty hovers over everything. When it comes to advisor compensation, the only thing certain this year is the uncertainty of it all. But that's enough to change all the rules. Read more . . .
Morgan Stanley To Take Over Smith Barney
January/29/2009
Morgan Stanley is in talks to take over Citigroup's Smith Barney brokerage division, according to a person familiar with the situation. Read more . .
The Long Winding Road To Recovery
January/27/2009
We all know tough times await us over the next few months. Just take a look at the recent conclusions of SIFMA's Economic Advisory Roundtable.
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Four Easy Ways To Screw Up Your Career
January/27/2009
Remember: If you cross the line of propriety, your boss might not be the understanding type. Read more . . .
McCann To Leave Merrill
January/06/2009
Bob McCann, the chief of Merrill Lynch's brokerage unit, is leaving the firm just five days after the acquisition by Bank of America was completed. Read more . . .
10th Annual Recruiters Roundtable
January/01/2009
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, if you know where to look. Read more . . .
This Is Your Career, So Start Acting Like It
December/01/2008
Like any labor market, this one comes down to supply and demand and a number of forces are in line to start pushing values down. Read more . . .
Bank of America Gets on Board
December/01/2008
Merrill Lynch's new owner joins the protocol, but will it be enough to keep advisors from leaving? Read more . . .
Headhunters Weigh in on Advisor Mobility
November/01/2008
The wealth management landscape has been reshaped and advisors are contemplating their future. Read more . . .
Proving Your Worth in Today's Tough Markets
October/01/2008
As we head into the final months of the year, volatility in the markets remains unchecked, Fannie Mae and Freddie Mac have been bailed out and (as I write this) Lehman is the next firm on the verge. Read more . . .
Seven Reasons Why Advisors Move
October/01/2008
A firm that's hemorrhaging money isn't the only reason advisors leave. Company polices and management attitudes also play a part. Read more . . .
The Next Step on the Career Path for Merrill and Lehman Advisors
September/16/2008
As the reality of this week sinks in, Merrill Lynch advisors are asking themselves the question many never thought they would: should I stay or should I go? Read more . . .
Historic Weekend on Wall Street, Fate of Largest Broker Unit Unknown
September/15/2008
The landscape of Wall Street and the wealth management industry were dramatically reshaped just since the close of business Friday and the markets are getting set for a tumultuous opening Monday. Read more . . .
The Transition to Transparency
August/01/2008
The mobility of advisors in the industry is just one part of the overall trend of transparency, which will only increase. Read more . . .
No Need To Panic After Collapse
June/01/2008
The storm is mostly over, so keep a clear eye out for your best opportunity—and don't jump just to jump. Read more . . .
The Sins of Arrogance and Hypocrisy
April/01/2008
The fall of former Gov. Eliot Spitzer. Read more . . .
Everything You Always Wanted To Know About Upfront Money
April/01/2008
Transition deals can be very good for you, if you understand how they work. Read more . . .
The War for Talent
March/01/2008
Brokerage firms are fighting for the top 2% of financial advisors. But can the industry afford to take this short-term strategy as the number of producers continues to dwindle? Read more . . .
Something Feels Awfully Familiar
February/01/2008
Here we are again, with an overheated recruiting market on top of a scandal. Those who forget history are condemned to repeat it: Three lessons from 2000 to 2002 can help advisors. Read more . . .
The Deal Makers
January/01/2008
Eight industry headhunters face off over the fallout at Merrill Lynch and Smith Barney, the biggest compensation packages and expectations for the new year at our Ninth Annual Recruiters Roundtable. Read more . . .
Two Powerhouses In Search of Leaders
December/01/2007
Brokers at both Merrill Lynch and Smith Barney are saying change is good. Read more . . .
Advisory Finally Debuts At Morgan Stanley
October/01/2007
Last wirehouse to offer alternative to fee-based brokerage. Read more . . .
The Most Valuable Advisor
October/01/2007
The battle between commissions and fee-based service rages on. Read more . . .
Taking Stock of an Acquisition
August/01/2007
Your firm's getting bought, and you've got decisions to make. But how? Read more . . .
Wachovia's Bright Ideas
July/01/2007
Wachovia's investment unit is the first bank brokerage to link advisors' bonuses directly to customer satisfaction—and that's just one of its new initiatives. Read more . . .
Merrill Plays Bonus Card
July/01/2007
Firm aims to stay in recruiting game via new deal offering up to 200%. Read more . . .
There's No "I" in Teamwork
June/01/2007
Working with a partner or group could be quite rewarding. But is it for you? Read more . . .
The Hiring Frenzy
April/01/2007
Competition for top producers reaches a fever pitch as financial services firms staff up to handle the boomers' retirement. Read more . . .
The Best Of All Possible Deals
April/01/2007
It's out there, but you may have to wade through the muck. Be careful. Read more . . .
Compensation 2007: A New Ball Game
March/01/2007
Litigation is in the spotlight as firms decide how to pay their advisors. Read more . . .
Bad Branch Manager Mistakes
February/01/2007
You've got to watch out for these, whether you're hiring or getting hired. Read more . . .
Talent Brokers
January/01/2007
They're frank. They're opinionated. They know the deal. OWS' annual Recruiters Roundtable. Read more . . .
Five Ways to Kill Your Interview
December/01/2006
Some things just won't fly with prospective new employers. Here's a list. Read more . . . .
Advisors Living In Glass Houses
October/01/2006
You know the rest. So don't malign a peer for leaving. You could be next. Read more . . .
Looking into the Crystal Ball
August/01/2006
Are the big deals here to stay? Here are one recruiter's predictions. Read more . . .
Skeletons in the Closet
June/01/2006
Your background can be the dealmaker--or dealbreaker. Read more . . .
The Job Hunting Hop
May/18/2006
With consolidation on the rise, financial advisers at bigger firms are well to keep their résumés updated and knock the cobwebs off their contact list. Read more . . .
Master Builders of RJA
May/01/2006
Free the adviser. It's the credo of Dennis Zank and Chet Helck, the architects of Raymond James & Associates. Our cover story tells you the choices they're making. Read more . . .
In Praise of Transactional Pros
April/01/2006
Commission-based brokers get a bad rap, but that's not quite fair. The best ones aren't just pitchers--as their loyal clients will tell you. Read more . . .
The Hire Authorities
January/01/2006
Recruiters see richer deals in 2006--but only for those signing up for longer. Our annual roundtable. Read more . . .
A Short Primer on Leadership
January/01/2006
An overly lax or harsh approach can lead you out the door in a flash. Think ahead and be consistent. You'll be a great branch manager. Read more . . .
The New Guard
November/01/2005
All five wirehouses are making top-level management changes. Here's what the new bosses are up against. Read more . . .
Want to Be a Branch Manager
November/01/2005
Recruiting, relocating and dealing with a potentially fractious workplace are all in the job description. The trick is balancing it out. Read more . . .
Morgan Wields Axe in Retail Unit
September/01/2005
The cuts have come swiftly at Morgan Stanley under new CEO John Mack. The firm has laid off at least 1,000 brokers--including many low producers--amid its search for a retail chief. But all is not lost for these newly freed reps, as some regionals and independents are jostling for a chance at them. Read more . . .
To Move or Not to Move
September/01/2005
Here are five questions you should ask yourself if you're thinking of leaving for another firm. Read more . . .
Morgan Stanley Reps Stick With Firm
July/01/2005
It appears an exodus of brokers from Morgan Stanley won't happen anytime soon. Many reps remain loyal, and the firm is hiring bigger producers. But recruiters are making overtures anyway. Plus, a change at the top of Merrill's retail unit. Read more . . .
Unto Himself
June/01/2005
If Phil Purcell can't get more out of his retail brokers, he won't be on top of Morgan Stanley for long. Read more . . .
The Hiring Squad
April/01/2005
Wall Street headhunters on the pressure branch managers are under--and the resultant richness of the deals. Read more . . .
At Wirehouses, Some Dramatic Changes
April/01/2005
The streamlining by Wachovia solves two problems at once. Read more . . .