Over the last twenty-five years, one of the overriding trends in the retail brokerage industry has been consolidation. EF Hutton, Drexel Burnham Lambert, Dean Witter, Shearson, Smith Barney, Legg Mason are all part of what is now Morgan Stanley Smith Barney. And I’ve left off literally dozen
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For wealth managers and advisers, recruiting is a contact sport. But 'contact' is now a four-letter word
Firms pay retiring brokers for their clients' assets, but clients often take their business elsewhere.
Some define it as starting their own firm, while others insist it means having full control over investment products and client relationships
Firms like Schwab are raking in assets at a much faster clip than the big brokerages.
As big brokerages lose their competitive edge, regionals are offering a home to advisers who want to stay in the employee channel.
