Research Magazine June 2006
Cover Story
Going Independent
Independent or wirehouse? The question used to be that simple for traditional advisors thinking about an independent alternative. But with multiple platforms gaining traction, advisors...
Features
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Summertime and the Living is Easy
Don Alderman, a Wachovia Securities director of investments, will be hanging ten on a three-week surfing safari in Canada this August. He'd also probably like...
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'&&Boomers Bailing from Businesses
Boomers are hotter than Georgia asphalt these days. The industry has awakened to the fact that these quirky 42-to-60-year olds are going to be everyone's...
News
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Expanding ETF Sales and BLDRs Low-Cost Emerging-Markets Product
During the frigid winter of 1777, Valley Forge, Penn., was home to America's army. It was there a rigorous training regime under the command of...
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Read Their Lips: No New Taxes
For 2005, the iShares funds announced zero capital gains distributions on all 101 U.S. listed exchange-traded funds. It was the fourth consecutive year the company...
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Early-Bird iShares Catch the Shareholders
The ETF business wasn't always this fun. And the people at Barclays Global Investors (BGI), sponsor of the iShares, can attest to it. In 1996,...
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Stock Exchange, Version 2.0
The Nasdaq Stock Exchange has always been an innovator. From its start in the 1970s, when competing stock exchanges were still entrenched in the auction-based...
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New Fundamental Index ETF
PowerShares has launched an ETF that tracks the FTSE RAFI U.S. 1000 index (ticker: PRF). The Research Affiliates Fundamental Index (RAFI) is designed to beat conventional...
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PowerShares Scores $60 Milllion Buyout
AMVESCAP PLC (NYSE: AVZ) has announced its plan to purchase PowerShares Capital Management for $60 million plus added financial incentives. PowerShares, based in Wheaton, Ill., currently has...
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The Latest Funds Focus on Growth, Value and Dividends
The ETF landscape just keeps getting bigger. In March, Rydex Investments launched six funds and First Trust Advisors added one. The Rydex ETFs will track S&P/Citigroup...
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First-Quarter Winners
The first quarter of 2006 is in the history books and except for bond indexes, the performance of exchange-traded funds in most categories was good. Strong...
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State Street Takes Over Three Top ETFs
Boston firm now controls prime properties in ETF marketplace, rolls out fresh product lineup as well. State Street Corporation of Boston, which owns State Street Global...
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Vanguard VIPERs Find Role in Expanding ETF Market
During the frigid winter of 1777, Valley Forge, Penn., was home to America's army. It was there a rigorous training regime under the command of...
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'What's Your Vision?
Although wirehouse employment remains flat or down, and the independent sector is growing rapidly, this trend should not obscure the fact that most wirehouse advisors...
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AARP Sells Funds To 50 Investors
AARP Financial, a new unit of AARP Services, has gotten into the retirement-funding act with the introduction of three index-based AARP Funds. The funds aim...
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T. Rowe Price Expands Its Advisor-Class Lineup
Hoping to boost sales by advisors of its popular no-load global stock fund, T. Rowe Price has added the fund to its list of Advisor...
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LPL Hits the Road to Boost Results
At LPL, which has some 6,400 advisors, the practice-management team aims to host more than 150 face-to-face events nationwide in 2006. That's in addition to...
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Commonwealth Extends Management Program
Early this month, Waltham, Mass-based Commonwealth Financial Network expects to begin the third year of a practice-management program that is nearly doubling revenue growth for...
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Securities America Beefs Up Special Training Programs
Early this month, Waltham, Mass-based Commonwealth Financial Network expects to begin the third year of a practice-management program that is nearly doubling revenue growth for...
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A.G. Edwards Posts Solid Earnings
The St. Louis-based brokerage continues to pick up more client assets and add branches, as demonstrated in its latest quarterly results. Its advisor headcount --...
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'RBC Dain Rauscher Grows on Rivals Home Turf
RBC Dain Rauscher knows how to pick its battles. It's going head-to-head with the likes of Wachovia Securities in, you guessed it, the Southeast. "Their appetite...
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Wachovia to Hire 900 Reps, Again, with New Private Client Exec.
Morgan Stanley isn't the only firm with a new brokerage executive tapped from the ranks of Merrill Lynch: Wachovia Securities has signed James Hays to...
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Wachovia Completes New York Market Team
There's a new face at Wachovia Securities' Park Avenue branch in New York. The office at 250 Park (between East 46th and 47th streets) is...
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Cuts and More at Merrill
What's gone up is now coming down -- at least when it comes to some cash payouts at Merrill Lynch. Merrill brokers will see cash compensation...
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''Morgan Stanley Shakes It Up
After losing out to Merrill Lynch over a deal with investment manager BlackRock earlier this year, Morgan Stanley has come back with a win or...
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NEXT Financial's Auld Has Big Plans
NEXT Financial Group has doubled its size every two years since 1999 and expects to continue its aggressive growth pattern in the near future. Its...
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Raymond James Leader to Head Industry Group
The Financial Services Roundtable has elected Thomas A. James, chairman and CEO of Raymond James Financial as its chairman-elect. He will serve as chairman in...
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UBS-Piper Jaffray Deal: 'It's a Terrific Deal'
UBS is buying Piper Jaffray, which could bring it 800-plus advisors and put it more solidly in fourth place behind Merrill Lynch, Wachovia Securities and...
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Eye on the Consumer
Some firms now enjoy the benefits of restructuring; others should see earnings shift up later in 2006, analysts say. David PalmerUBS212-821-9315david-s.palmer@ubs.com Area of Coverage: Consumer Services --...
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The Advisor Class
Research: Some advisors still consider T. Rowe Price primarily as a direct shop. Why isn't that the case any more? Cammack: To give you a perspective...
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The Matsko Matrix
Where to start with an advisor like Briggs Matsko, except by the numbers? The firm he manages, California Fringe Benefit, handles 33 employer institutions, mostly hospital...
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Taking the Initiative
In a move that is being closely watched on Wall Street, Smith Barney has launched Citigroup Institutional Consulting, a new business unit comprised of the...
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Money and the Professor
Moshe A. Milevsky, a rabbi's son, loves to give advice. But he himself has consistently refused to take any -- at least conventional-wisdom career advice. And...
Voices/Columnists
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Fill in the Blank
Surveys have been a vital part of the focus of this column and in my own business as well. By conducting them periodically and studying...
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All Hail, Gatekeeper!
By the powers vested in me by Research magazine, I am declaring the month of June "National Gatekeeper Month." Have you hugged your gatekeeper today?...
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Evaluating "The Number"
"The Number" was published early this year with a huge marketing budget as well as stellar reviews from the Wall Street Journal and New York...
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For the Long Term
The Deficit Reduction Act (DRA) signed February 8, 2006 revised Medicaid's "look-back period" and set up a nationwide long-term care insurance partnership program. As an...
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Leverage Your Support
Financial advisors in today's firms are typically offered support from sales assistants, branch managers, staff specialists and wholesalers. Given the variety of support available, how...
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How to Succeed at the Fed
In December 1996, with the Dow Jones Industrial Average just above 7,000 and the technology-dominated Nasdaq Composite index under 1,500, Alan Greenspan made his famous...
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