Why the ‘one bad broker’ rule matters
One bad broker making big bets or selling lousy or misunderstood products can damage or even ruin a firm. Are firms doing enough to keep those brokers and high-risk behaviors in check?
Wall Street rewards high-risk behavior in its salespeople, be they deemed brokers, the old-fashioned term, or financial advisers, in the more commonly accepted contemporary tongue.
To illustrate that point, look no further than the widely disparate cases of a hedge fund blowing up and brokers a
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