RJ & Makay

Our view of news, events and human capital trends in the financial services industry.

Is Financial Advisor recruiting stabilizing?

Posted by: Darin Manis in Untagged on Jan 25, 2010

Financial Advisor recruiting has seen a boom over the last two years. Will the boom continue or has Financial Advisor (FA) recruiting stabilized?

In the 15 month period from August 2008 to Nov 2009 there were 11,875 wirehouse reps and 1687 regional firm reps who switched firms. Wirehouse reps are Financial Advisors from either Morgan Stanley Smith Barney, UBS, Merrill Lynch/BofA and Wachovia/Wells Fargo.

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I'm still a pessimistic optimist on this job market

Posted by: Darin Manis in Untagged on Dec 04, 2009

The unemployment rate dropped from 10.2% to 10% for November. Economist thought that the rate would maintain 10.2% for November so the news I’m reading is overly positive about the .2% drop. Most of these same economist however thought the unemployment rate would peak at 10.2% in February of 2010 but we saw that number 4 months earlier in October of this year. So forgive me if I am cautiously optimistic.

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The Job Seeker Competition Principle

Posted by: Darin Manis in Untagged on Nov 30, 2009

The Competition Principle is a formal title I gave to what I believe to be a fundamental truth. The Competition Principle simply states, “There are others more qualified or talented than you who want what you want.” To make this principle specific to jobseekers I have defined the tenet as the Jobseeker Competition Principle. The Jobseeker Competition Principle states: “There are others more qualified or talented than you who want the same job you want.”

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Merrill brokers pressured to also be bank tellers

Posted by: Darin Manis in Untagged on Nov 18, 2009

About a week ago I read an article in the New York Post entitled “Merrill Flinch: Retail banking push meets broker resistance.” I’ve read similar articles in Registered Rep and so on. Anyone could have (and many did) predict that this and more would happen. This is one of many instances where completely opposite and conflicting corporate cultures are going to clash.

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Twenty percent true unemployment in 2010?

Posted by: Darin Manis in Untagged on Nov 06, 2009

On October 9th I posted a blog about how it might take 4 years to get unemployment back to normal. I referred to a Wall Street Journal survey of 48 economists which shows that on average these economist believed that the official unemployment rate would peak at 10.2% in February of 2010. They were half right.

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The Great Recession is Over?

Posted by: Darin Manis in Untagged on Oct 12, 2009

A survey done by the National Association of Business Economists (NABE) found that 80% of the 44 professional forecasters believed the economy is growing again. The economy has suffered four straight quarters of decline. The NABE President stated, “The great recession is over.”

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Might take 4 years to get unemployed back to "normal"

Posted by: Darin Manis in Untagged on Oct 09, 2009

The Wall Street Journal just released a survey they did with 48 economists which shows that on average these economists don’t expect unemployment (the U3 official unemployment percentage not the true “underemployment” U6 rate) to fall under 6% until 2013.

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Futures point to higher open on Wall Street 9 Feb 2010 | 4:44 am Reuters: Business News
(Reuters) - Stock futures rose on Tuesday, pointing to a higher start for Wall Street after sharp falls in the previous session, but with some caution expected to persist over euro zone debt concerns.
China's CIC gives breakdown of U.S. equity stakes 9 Feb 2010 | 4:41 am Reuters: Business News
BEIJING (Reuters) - China Investment Corp , the country's $300 billion sovereign wealth fund, has made its biggest U.S. equity bets in natural resources and financial stocks.
Oil rises above $72 on weaker dollar, buying 9 Feb 2010 | 4:40 am Reuters: Business News
LONDON (Reuters) - Oil rose above $72 a barrel on Tuesday due to a weaker U.S. dollar and robust buying interest as investors looked for bargains following last week's price slide to near two-month lows.
Trichet To Greece's Rescue? 9 Feb 2010 | 4:30 am Forbes.com: News
ECB president's abrupt meeting exit sparks talk of coordinated E.U. support for Greece, while UBS reports its first quarterly profit in more than a year.
Corn Ethanol Gets Obama's Support 9 Feb 2010 | 4:00 am Forbes.com: News
EPA mandate for more corn ethanol puts brighter sheen on the biofuel.
Riding The Rocky Recovery 9 Feb 2010 | 4:00 am Forbes.com: News
The Forbes Investor Team weighs recent developments and comes up with a game plan for the remainder of 2010.

RJ & Makay

Our view of news, events and human capital trends in the financial services industry.

Is Financial Advisor recruiting stabilizing?

I'm still a pessimistic optimist on this job market

The Job Seeker Competition Principle

Merrill brokers pressured to also be bank tellers

Twenty percent true unemployment in 2010?

The Great Recession is Over?

Might take 4 years to get unemployed back to "normal"

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