Morgan Stanley spokeswoman Christine Jockle confirmed the change in the broker compensation policy.
And let's not forget the federal government's proposal to eliminate the mortgage interest tax deduction for high-income earners; the changes in the way brokers will be compensated because of new regulations; and the fact that banks — despite recent profits — are still leery of lending.
In the contract change process, the broker pool renews the end customer's current insurance contract by buying a comparable or standardized product in consultation with the end customer.
BLOOMBERG NEWS For Brokerage Firms, Brand Names Matter Less | Reuters reports: "Frequent consolidations and name changes in the industry have jaded many brokers and advisers.
This paper shows a broker's positioning to the role of principal and how this is negotiated and re-negotiated in changes of footing in which the broker can assume this role and then relinquish it.
If the broker does not want to change the current contract personally, the broker must update the customer's insurance-specific information (e.g., the customer's residence) in the broker pool's CRM system.
With more brokers and investors on the electronic exchange, he said changes in the Nasdaq screen are also necessary.
That will mean changes in how brokers operate and are paid.
That apartment was listed for $32 million in the spring, and after two changes in brokers and several price cuts, it is now available for $22 million.
"The phone numbers changed in the middle," she said, "and the broker.
