RIVALS for the RICHE$T Five Firms Fight It Out For the Wealthiest Clients
On Wall Street, August, 2006 by Tony Chapelle
They have thrived on high-net-worth and ultra-high-net-worth clients-generally customers with assets of $10 million or more-long before those labels were in vogue. Bear Stearns, Credit Suisse, Deutsche Bank Alex. Brown, Goldman Sachs and Lehman Brothers have earned their elite status because of their high-end customers, superior levels of broker production and tony bank pedigrees.
And they've done so with fewer advisers compared to the sales forces of giant financial services firms like Merrill Lynch and Morgan Stanley. But some observers question the growth prospects for the group as a whole. These firms suffer from a lack of scale, says Michael Campbell, former retail chief at Donaldson Lufkin & Jenrette and Credit Suisse First Boston. "The bigger firms [such as Merrill]...
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Most Recent Business Articles
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- LIFO vs. FIFO: a return to the basics
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Using object-oriented analysis and design over traditional structured analysis and design
- Design a commission plan that drives sales - Sales Commissions



