2009 Articles
- Financial Planning "UBS Recruiting Deal Doesn’t Match Rivals.quot;December 16, 2009
The UBS recruiting deal appears to be about 50% short of their major competitors which may not be adequate, given all the bad press.
View full article… - On Wall Street "UBS’ Deal: Too Little, Too Late?" December 11, 2009
UBS’ “Growth Plus” plan at 65% may not be enough to keep their remaining brokers in their seats. - Financial Planning "Deciphering Morgan Stanley Smith Barney’s New Recruiting Deal."November 12, 2009
MSSB’s new deal is keyed to advisors who can grow their business by 50% in five years.
View full article… - Investment News "Can Sallie Krawcheck restore Merrill’s luster?." August 10, 2009
Large Broker/Dealers will remain a major force but there will be major challenges facing Krawcheck and other leaders. - Dow Jones Newswires "Rivals Gain From Smith Barney Loss." July 22, 2009
Smith Barney has lost more than 450 brokers since the merger with Morgan Stanley; Morgan says they are mostly under $500K producers. - Investment News "Wanted: Execs to lead giant broker’s units." July 13, 2009
UBS is searching for a new head for the U.S. brokerage unit. - Financial Planning "Big Firms Target UBS Brokers."July 7, 2009
UBS brokers are major targets due to no retention deals and low morale.
View full article… - Fundfire.com "Wirehouse Branch Managers Flood Job Market" July 6, 2009
Ongoing consolidation leaves many Branch Managers without jobs and with few options. - Investment News "Breakaway brokers still a trickle, not a tide." June 29, 2009
The move to independence is accelerating and is expected to continue to do so over the next 18 months . - Investment News "Brokerage firm recruitment deals are holding steady for top reps." June 15, 2009
Transition packages have declined only slightly for top producers. - Investment News "Upstart HighTower snags $10B broker." May 4, 2009
Many top brokers are leaving traditional firms for smaller advisory firms. - Fundfire.com "Former Smith Barney Star Lands at Merrill" April 15, 2009
Team with $5.5 billion AUM moves to Merrill after three months at Stanford Group. - Investment News "Wachovia stops offering profit-formula deals" April 13, 2009
Wachovia has stopped offering standard transition packages for this semi-independent channel and has modified the calculation of past production for other recruits. - Dow Jones Newswires "Financial Advisor Recruiting Slows At Major US Brokerages" April 9, 2009
Movement slows as greater numbers of brokers are under contract and as deals come down. - Smart Money "Sizing up the Little Guy" April, 2009
Many advisors, tired of big firm problems are moving to regionals. - Dow Jones Newswires "UBS Hires Two Credit Suisse Financial Advisors" March 19, 2009
UBS boosts HNW operations in San Francisco. - Investment News "Oppenheimer recruiting brokers, advisors from Stanford Group" March 12, 2009
Stanford advisors are getting offers from Oppenheimer but not much of a transition package. - Research Magazine "UBS Taps Top Financial Advisors in Texas, as it Shores Up U.S. Wealth Management" March, 2009
UBS recruits 274 advisors in 4th quarter including a large Goldman team in Dallas. - Investment News "$8B Stanford fraus case will take years to clean up" February 23, 2009
Stanford advisors are trying to find new homes for themselves and their clients but have trouble due to frozen accounts. - Fundfire.com "SEC Charges Stanford Brokerage with $8B Fraud" February 18, 2009
Most of Stanford’s hires the past few years look like most other U.S. brokers but the problems stem mostly from foreign investors. - Bloomberg "UBS Hired Brokers in U.S. With ‘Super-Sized’ Bonuses" February 3, 2009
UBS using very aggressive deals to lure brokers; talked with Morgan Stanley, talking with Wachovia about future of U.S. wealth management unit. - Investment News "Morgan Stanley-Citi combo doesn’t float brokers’ boats" January 19, 2009
Even though the combination may create a great firm, many brokers aren’t interested in such a large firm. - On Wall Street "Packages Get Lowered, Brokers Get Hired" January, 2009
Unrest in the industry causes brokers to continue to move despite deals being reduced.