Advertisement
HomeCollectionsDiscount Brokerage
IN THE NEWS

Discount Brokerage

FEATURED ARTICLES
BUSINESS
March 4, 1991
One on One is a weekly feature offering excerpts of interviews conducted by The Evening Sun with newsworthy business leaders. Harold N. Peremel is president of Peremel & Co. Inc., Maryland's largest and oldest locally owned discount stock brokerage firm.Q. Your firm had a 64 percent growth rate in new accounts and a 13 percent jump in revenue in 1990. Considering that other stock brokerage firms lost business during last year, how did your firm manage to grow?A.We made a basic premise and a basic decision, and that decision was to aggressively market in the salary environment.
ARTICLES BY DATE
BUSINESS
By Eileen Ambrose, The Baltimore Sun | December 19, 2011
Jim Loukota of Baltimore County is trying to make the best of a soured investment. The 60-year-old retired electrician owns 100 shares of First Mariner Bancorp that he bought for about $14.50 per share in the late 1990s and closed Monday a little over 5 cents a share. He wants to sell the stock in the Baltimore-based bank holding company before the end of the year so he can use the loss to offset income on his tax return. But the discount brokerage that originally sold him the stock says it doesn't deal in shares trading below $1. And he's having trouble finding anyone else willing to help him sell his paper stock certificate.
Advertisement
BUSINESS
By Bloomberg Business News | July 30, 1994
NEW YORK -- Three former NationsBank Corp. brokers in Florida have filed an arbitration claim against the company's brokerage units, alleging use of misleading sales practices.The three allege they were forced out of their jobs after objecting to the sales practices, which they say deceptively touted securities as safer bank products. They are seeking a total of $560 million in damages on their claims.Charlotte, N.C.-based NationsBank, the fifth-biggest bank company in the country, didn't respond to a request for comment yesterday.
BUSINESS
February 6, 2003
In The Region Founder of NTG pleads not guilty to fraud charges Victor Giordani Jr., a founder of the now closed Network Technologies Group and the company's former chief operating officer, pleaded not guilty yesterday to federal bank, mail and wire fraud charges. Giordani, 55, and three other officers of Network Technologies Group, or NTG, were indicted last month, each on 10 fraud counts. The company folded last summer amid an accounting scheme that involved mis-booked and phony invoices.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | June 11, 1993
There are discounts, and then there are discounts.Thirteen percent of the nation's brokerage commissions today go to discount brokers, who handle transactions but don't offer investment advice, as full-service brokers do.The number of discount firms has grown to more than 100, as sophisticated investors increasingly choose to go it alone.Keep in mind, however, that discount brokers aren't best for everyone, since many investors need advice about financial goals and a bit of hand-holding as well.
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,Washington Post Writers Group | March 28, 1994
NEW YORK -- You can still cut your tax for 1993 by starting an Individual Retirement Account. This year it's especially attractive, because IRA fees are being waived.A survey in November by the trade newsletter, The IRA Reporter, found that 72 percent of 25 representative banking institutions were charging no annual fees for their IRAs, up from 40 percent in 1992. Banking institutions that do levy fixed fees charge around $25 to $50 annually, plus up to $50 when you close the account.IRA fees are far more common at brokerage firms, insurance companies, trust companies and mutual funds.
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,Washington Post Writers Group | April 11, 1994
NEW YORK -- Everywhere you turn these days, you find astory about investing by computer. The cybernuts are already on-line ("on-line" means connected to a web of other computer users, through telephone lines; the prefix "cyber-" means computer). But what promise do the networks hold for investors not on the cutting edge?Most of you will probably conclude that the old technology is simpler and cheaper:* You can pick up the phone and talk to a stockbroker if you like his or her advice and research.
BUSINESS
By CHICAGO TRIBUNE | December 2, 1996
ONLINE TRADING, automatic investing through employer 401 (k) plans, deep-discount brokerage, index funds, financial supermarkets available through toll-free phone numbers.Is the investing business, pressured by price competition and technological innovation, going to become untouched by human hands?Not according to Daniel P. Tully, who has guided the Merrill Lynch & Co. bull for more than four years of incredible prosperity and growth. With the company's stock price up more than threefold and more than $500 million building each day in Merrill customer accounts, Tully steps down at the end of the year with more than $780 billion in client assets under Merrill Lynch's worldwide tent and an average annual return on equity to Merrill Lynch stockholders of 23 percent.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | October 28, 2001
You don't have to be rich to play with the rich on Wall Street. "One of the greatest developments of finance in recent years is the emergence of a variety of investment vehicles that allow people to make investments for small amounts of money," said Charles Carlson, chief executive of Horizon Investment Services in Hammond, Ind., and editor of a newsletter for investors. "There are mutual funds that allow someone to come in with as little as a $50 investment," he said. "There are company 401(k)
BUSINESS
February 6, 2003
In The Region Founder of NTG pleads not guilty to fraud charges Victor Giordani Jr., a founder of the now closed Network Technologies Group and the company's former chief operating officer, pleaded not guilty yesterday to federal bank, mail and wire fraud charges. Giordani, 55, and three other officers of Network Technologies Group, or NTG, were indicted last month, each on 10 fraud counts. The company folded last summer amid an accounting scheme that involved mis-booked and phony invoices.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | October 28, 2001
You don't have to be rich to play with the rich on Wall Street. "One of the greatest developments of finance in recent years is the emergence of a variety of investment vehicles that allow people to make investments for small amounts of money," said Charles Carlson, chief executive of Horizon Investment Services in Hammond, Ind., and editor of a newsletter for investors. "There are mutual funds that allow someone to come in with as little as a $50 investment," he said. "There are company 401(k)
NEWS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 29, 1997
A day after suffering its biggest point loss in history, the U.S. stock market staged a stunning reversal yesterday with the Dow Jones industrial average soaring 337.17 points and volume on the New York Stock Exchange nearly doubling its previous record.The Dow, the closely watched index of 30 blue-chip stocks, rose 4.71 percent to close at 7,498.32.The huge increase was the largest single point-gain in the Dow's 101-year history, and it came just a day after the bellwether index had plunged 554.26 points.
BUSINESS
By CHICAGO TRIBUNE | December 2, 1996
ONLINE TRADING, automatic investing through employer 401 (k) plans, deep-discount brokerage, index funds, financial supermarkets available through toll-free phone numbers.Is the investing business, pressured by price competition and technological innovation, going to become untouched by human hands?Not according to Daniel P. Tully, who has guided the Merrill Lynch & Co. bull for more than four years of incredible prosperity and growth. With the company's stock price up more than threefold and more than $500 million building each day in Merrill customer accounts, Tully steps down at the end of the year with more than $780 billion in client assets under Merrill Lynch's worldwide tent and an average annual return on equity to Merrill Lynch stockholders of 23 percent.
FEATURES
By SUSAN BONDY | June 4, 1995
Q: My son told me I should put my stock certificates in a brokerage account.He said a new regulation will reduce the settlement period and could create problems for me.I'm happy keeping my stock in a bank safety-deposit box and collecting the dividends myself. What is this new law? When does it go into effect? Will it hurt me? What do you recommend I do?A: I've always been in favor of keeping stocks in a brokerage account, preferably at a discount brokerage firm that does not charge an annual fee or an "inactive" account fee.The new rule your son mentioned -- called "T-Plus-Three" in Wall Street jargon -- tightens the current five-day settlement period for trades to three days and takes effect June 7, 1995.
BUSINESS
By Ross Hetrick and Ross Hetrick,Sun Staff Writer | February 24, 1995
Joining a trend to put some meat on what has been a bare-bones service, T. Rowe Price Investment Services Inc. said yesterday that it is starting a dividend reinvestment program for its discount brokerage customers.The free service by the Baltimore-based mutual funds company gives customers the option of having their stock dividends or capital gains distributions from closed-end funds automatically reinvested in additional shares. Before this, the dividends were either mailed to the shareholders or transferred to a Price money market fund, according to Price spokesman Steven E. Norwitz.
BUSINESS
By Bloomberg Business News | July 30, 1994
NEW YORK -- Three former NationsBank Corp. brokers in Florida have filed an arbitration claim against the company's brokerage units, alleging use of misleading sales practices.The three allege they were forced out of their jobs after objecting to the sales practices, which they say deceptively touted securities as safer bank products. They are seeking a total of $560 million in damages on their claims.Charlotte, N.C.-based NationsBank, the fifth-biggest bank company in the country, didn't respond to a request for comment yesterday.
NEWS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 29, 1997
A day after suffering its biggest point loss in history, the U.S. stock market staged a stunning reversal yesterday with the Dow Jones industrial average soaring 337.17 points and volume on the New York Stock Exchange nearly doubling its previous record.The Dow, the closely watched index of 30 blue-chip stocks, rose 4.71 percent to close at 7,498.32.The huge increase was the largest single point-gain in the Dow's 101-year history, and it came just a day after the bellwether index had plunged 554.26 points.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | December 19, 2011
Jim Loukota of Baltimore County is trying to make the best of a soured investment. The 60-year-old retired electrician owns 100 shares of First Mariner Bancorp that he bought for about $14.50 per share in the late 1990s and closed Monday a little over 5 cents a share. He wants to sell the stock in the Baltimore-based bank holding company before the end of the year so he can use the loss to offset income on his tax return. But the discount brokerage that originally sold him the stock says it doesn't deal in shares trading below $1. And he's having trouble finding anyone else willing to help him sell his paper stock certificate.
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,Washington Post Writers Group | April 11, 1994
NEW YORK -- Everywhere you turn these days, you find astory about investing by computer. The cybernuts are already on-line ("on-line" means connected to a web of other computer users, through telephone lines; the prefix "cyber-" means computer). But what promise do the networks hold for investors not on the cutting edge?Most of you will probably conclude that the old technology is simpler and cheaper:* You can pick up the phone and talk to a stockbroker if you like his or her advice and research.
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,Washington Post Writers Group | March 28, 1994
NEW YORK -- You can still cut your tax for 1993 by starting an Individual Retirement Account. This year it's especially attractive, because IRA fees are being waived.A survey in November by the trade newsletter, The IRA Reporter, found that 72 percent of 25 representative banking institutions were charging no annual fees for their IRAs, up from 40 percent in 1992. Banking institutions that do levy fixed fees charge around $25 to $50 annually, plus up to $50 when you close the account.IRA fees are far more common at brokerage firms, insurance companies, trust companies and mutual funds.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.