By some estimates there are now 200, 000 financial planners in the U.S. Their training ranges from none at all to courses and a series of exams given by the College for Financial Planning in Denver or a few months at a brokerage house, such as Hutton, to schooling leading to CPA, J.
If you work with independent investors or brokers, your investments are housed at a large brokerage house where you should be able to verify your investment holdings independently of statements your advisor issues to you.
According to a report published by the London Times on Monday, the brokerage house is preparing a plan to split the firm in two with its third-quarter earnings.
The brokerage house recorded a wider than expected loss for the second quarter and announced asset sales to shore up its capital base.
They would go a long way to protect retirement and brokerage house investors from getting ripped off.
FORBES: The 'Other' Fiscal Cliff: Unfinished Financial Reforms
The six-month program included a three-month internship at the brokerage house Salomon Smith Barney, where he got plenty of experience in building out networks.
The brokerage firm reserved a hearing room in a House office building for briefings by several lawmakers and aides.
Even Panglossian brokerage houses have warned that if a recession occurs, house prices could tumble 10% this year and the stock market could decline by 30%.
In the past, the argument has been that in-house ownership of both a mutual fund group and a retail brokerage could increase revenues through cross selling.
It is demonstrably false to allege that the customer was induced to sell some of his holdings in favor of a new issue based on assurances of quality from the employee of the brokerage house.
FORBES: Taped Phone Conversations Discredit Customer And Exonerate Stockbroker
You'd think determining the basis of a security would be easy, and in fact, in the majority of cases where a customer buys and sells stocks and mutual funds within one account at one brokerage house, it would be.
Terri McCullough, a 41-year-old aide to House Speaker Nancy Pelosi, had several successful trades in 2008 in a Charles Schwab brokerage account with her husband, Howard Wolfson, a former spokesman for Hillary Clinton's 2008 presidential campaign.
We gave special honors to Philweb of the Philippines (top profitability, based on operating income as a share of sales), to Royal Ceramics Lanka of Sri Lanka (return on investment, a near quintupling) and to E-House (China), the real-estate brokerage, for overall best composite score.
In America, where commercial bankers still face restrictions when it comes to selling shares and insurance, Sanford Weill, the boss of Travelers Group, has moulded Smith Barney, a brokerage, and Travelers, an insurer, into a huge stocks-funds-and-insurance house.
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