2016 Azbee Awards of Excellence
Category
Print > Feature Article - General Interest > Less Than $3 Million Revenue > Northeast
Awarded to
Andrew Welsch, Senior Editor
Entry details
Andrew Welsch Feature Article — General Interest
Issue date (if applicable): 6/1/2015
Publication name: On Wall Street
Publishing company: SourceMedia
Website home page: http://www.onwallstreet.com/
Please describe the publication's mission and readership:
Since its inception in 1992, On Wall Street has been providing financial advisors at the largest and most prestigious brokerage firms with the best information and analysis in the industry. We cover a wide range of topics, including the latest changes in broker compensation, breaking news on the regulatory and legal fronts, new product offerings, the consolidation of companies and the movement of brokers and top executives between firms. On Wall Street tells its readers how to promote their careers and their practice, and gives a voice to industry experts to offer practical guidance for brokers on maximizing returns in client portfolios.
Please describe the enterprising work that went into this entry and its significance or impact on readers:
This article provides an in-depth look at how the nation's biggest brokerage firms are trying to boost profits – and why those strategies have been drawing increasingly fierce criticism from financial advisors. Senior Editor Andrew Welsch writes about how Morgan Stanley and similar firms are incentivizing their advisors to sell lending products to their clients. The benefit of this strategy, executives say, is that clients have more of their needs met and thus become more loyal to the firm. Plus, it helps boost profit margins.
Yet the approach remains controversial and unpopular with many financial advisors tasked with selling clients securities-based loans, mortgages and other lending products. Many say they feel pressured to sell products that clients don't always need. Drawing on company data and insider accounts and critiques, Welsch lays out in extensive detail why this approach – so favored by executives – rubs so many advisors the wrong way.
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Andrew Welsch Feature Article — General Interest
Category
Print > Feature Article - General Interest > Less Than $3 Million Revenue > Northeast
Description
Publication name:
On Wall Street
Company:
SourceMedia
Winner Status
- Regional Bronze Award
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