Brokers Rate Their Firms – RR Mag’s 2001 Survey –


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Registered Representative’s Annual Broker Survey

Reps remain generally satisfied with their firms. Our surveyors this year collected good scores and kind words for technology advancements, product innovations and the ubiquitous, but favored, strategy of targeting the wealthy with fee-based services.

By comparison, brokers criticize wirehouses’ current cost-cutting measures as shortsighted. The paltry quantity of sales assistants and spotty quality of operations impact production, they say. And brokers always have anxieties. Two years ago, they worried about the Internet. Last year, consolidation was causing concerns. And the survey this year uncovered a loss of faith in analysts (what little there was to begin with). The believability of analysts came into serious question, of course, after the tech bubble popped.

Some brokers feel they were downright misled by analysts more concerned with landing banking business.

However, quality of research has never been highly ranked by brokers. So, add up the numbers, factor in brokers’ comments, and judge the firms yourself.

For all of the comments from the 400 brokers polled, see

© 2001, PRIMEDIA Business Magazines & Media Inc. All rights reserved. Provided under license to This article is protected by United States copyright and other intellectual property laws and may not be reproduced, rewritten, distributed, redisseminated, transmitted, displayed, published or broadcast, directly or indirectly, in any medium without the prior written permission of PRIMEDIA Business Magazines & Media Inc.. Registered Representative magazine is online at

Nothing herein is intended as legal or financial advice. The law is different in different jurisdictions, and the facts of a particular matter can change the application of the law. Please consult an attorney or your financial advisor before acting upon the information contained in this article. 

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