Broker-Dealers
From Merrill Lynch To TD Ameritrade, Broker Performance Hit A Wall Last Quarter
As more earnings reports trickle in, it looks like both wirehouses and discount brokerage firms found it tough to attract new accounts and fresh transactional revenue last quarter.
Morgan Stanley Is Not Planning Thousands Of Layoffs, But They've Considered The Concept
Reports that Morgan Stanley is gearing up to cut "several thousand" jobs may have been a little too quick to interpret the giant firm's contingency planning as a done deal.
Merrill Lynch Reportedly Flirting With Bonus Pay For Running Fewer, Bigger Accounts -- But The Bugs Might Not Be Worked Out Yet
Memos have been flying around Merrill Lynch about ways to get the Thundering Herd to court higher-quality clients and stop simply gathering the assets.
FINRA Forces Wedbush To Pay Trader $3.5 Million In Back Commissions
It's not clear whether Wedbush Securities simply forgot to pay one of its traders in a timely fashion or not, but either way, FINRA calls the case "reprehensible."
Analysts Point To Stifel As Likely Morgan Keegan Buyer
With so many broker-dealers like Securities America and Morgan Keegan putting themselves up for sale, analysts are having to dig deep to uncover just who might emerge to buy them.
