In the past, full-service brokerages benefited from the fact that comparison shopping was an arduous task.
Brokerage stocks, benefiting from the announced takeover of PaineWebber by UBS of Switzerland, joined high-technology as the session's best-performing group.
But the privately held company, which also runs retirement services, brokerage and benefits outsourcing businesses, said it posted record sales of bond and money market funds last year, helping offset stock fund declines.
Wachovia, the nation's fourth-largest bank, said Tuesday it agreed to acquire insurance brokerage and benefits consulting firm Palmer & Cay, in a move to form one of the top ten U.S. insurance brokerage firms.
Brokerage provides benefits for the individual based on the idea that non-redundant actors are sources of unique information that can be used by the broker for personal advantage by increasing their social capital [ 5].
Among the investment banks and brokerage firms to benefit from the rumors surrounding Donaldson , Lufkinwas J. P. Morgan & Company, which rose $3.88, to $149, and Lehman Brothers Holdings Inc. up $3.34, to $140.59.
Profits rose 8percentt in its brokerage division, which benefited from a recovery in the stock market.
But this can benefit the brokerage at the expense of its customers.
Besides lawsuits by individual investors, the group has also been sued by Irving H. Picard, the trustee liquidating Mr. Madoff's brokerage business for the benefit of his victims.
"I.R.S. Offers Amnesty to Companies That Admit Tax Indiscretions" (Business Day, Dec. 26) describes the odorous if not illegal tax shelters promoted largely by accounting and stock brokerage firms for the benefit of corporations.
None of the individual partners in Fairfield Greenwich were named in the lawsuit, filed by Irving H. Picard of Baker & Hostetler, the court-appointed trustee managing the liquidation of the Bernard L. Madoff Investment Securities brokerage firm for the benefit of Mr. Madoff's victims.
