Merrill Lynch turns bullish on hiring brokers again.
The way for financial advisors to get a bonus from Wachovia Securities, is to join the firm, not stay with it.
As Congress rakes the heavyweights of the financial world over the coals for their use of government money to pay executive bonuses, it seemed only a matter of time before the spotlight was turned on financial advisors’ retention packages.
You’re glad 2008, the year from hell, is over. But will 2009 be any better?
While it’s true that actions speak louder than words, the fact remains that words are easier. So it should be no surprise that wirehouse advisors talk about going independent much more than actually walking out and making it a reality. Many can talk the talk, but then they balk to walk, held back by the practical considerations and a good bit of fear. The question now, though, is whether they will be more inclined to make that move in this new age of Wall Street.
“We’re still running into mergers and acquisitions that look like they [were] put together on a napkin over the weekend.” — Mickey Wasserman
Training programs for brokers are falling victim to the corporate budget ax, cutting off a source of new talent for financial firms.
For executives in Credit Suisse Group’s (CS) U.S. private bank, it’s back to the drawing board on their 2009 compensation plan for financial advisors.