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Morgan Stanley wins reps over
A year after taking over retail at Morgan Stanley — amid much skepticism — James Gorman has made believers out of most of the firm’s troops.
Fundamental differences over Schwab funds
Charles R. Schwab last week called the fundamental indexes underlying his company’s three newest mutual funds “a better mousetrap,” but The Vanguard Group Inc. and Barclays Global Investors smell a rat.
Merrill bars non-clients from research
Merrill Lynch & Co. analysts are mad as hell that people are simultaneously belittling and stealing their investment ideas, according to Crain's New York Business.
OptionsXpress reshuffles execs
OptionsXpress Holdings Inc. announced today that it promoted its chief financial officer to the role of president and its chief operating officer to the role of executive vice-chairman, according to published reports.
Morgan Stanley profits soar 69%
Morgan Stanley today posted a 69% increase in first-quarter profits on strong advisory fees from higher trading levels and increased investment banking fees.
Wachovia launches 4front client loyalty program
IRVINE, Calif. — In an expected move, Wachovia Securities LLC this month launched a client loyalty program called 4front.
Merrill seeks to expand in India
Merrill Lynch & Co. Inc. is planning to increase the scope of its Indian private banking business, with a focus on providing financial services to that country’s growing wealthy population, according to the Economic Times in India.
Indies are too tempting to be ignored
Intrigued wirehouse executives who are looking for a change are beginning to check out independent-contractor broker-dealers, and what they see interests them more and more, industry executives, consultants and recruiters say.
Schwab, Cambridge blend efforts
After 15 years of serving their common clientele separately, Schwab Institutional and Cambridge Investment Research Inc. are showing those dually registered advisers a united front in recruitment, service and reporting.
Wirehouse accounts don’t match client goals
In a huge survey of its clientele, Schwab Institutional documented what financial advisers have been screaming about for years.
