Securities brokerage firms: ranked by number of full-time, registered securities brokers in L.A. county.EXECUTIVE SUMMARY UNSEATED by Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. moved to second place,
having shed shedrural building used for agricultural pursuits. shed hands miscellaneous workers in a shearing shed at shearing time, i.e. persons other than the shearers, wool classers. close to a third of its L.A. County brokers since its peak of 746 brokers in 2001. Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. and UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Inc., formerly UBS PaineWebber, traded places, with only one broker separating third and fourth place. Both brokerages trimmed their ranks in L.A. County, with Merrill Lynch shedding shedding, n See exfoliation. shedding 1. exfoliation of entire skin, called also ecdysis, exuviate. 2. falling out of haircoat. 3. putting animals into a shed. 4. 54 brokers, to 406, and UBS decreasing by 84 brokers, to 405. Wachovia Securities Wachovia Securities, located in Richmond, Virginia (soon to be moved to St. Louis), is the third largest brokerage firm in the United States as of 2006 with $689 billion retail client assets under management. It is a subsidiary of Wachovia Corporation. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control more than tripled its L.A. County brokers when it merged its retail operations with Prudential Prudential is the name of two different companies and buildings named after them: Companies:
No. 5 Farmers Financial Solutions LLC and No. 10 Jefferies Jefferies may refer to: People with the surname Jefferies:
Overall, the 25 largest security brokerages in L.A. County employed 3,863 securities brokers. THE TRENDS [GRAPHICS OMITTED] The Pacesetter SMITH BARNEY SMITH Barney claimed the title of largest securities brokerage BROKERAGE, contracts. The trade or occupation of a broker; the commissions paid to a broker for his services. in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County from Morgan Stanley, which has been scaling back its retail brokerage operations here over the past few years. Smith Barney, a unit of New York-based Citigroup Citigroup U.S. holding company formed in 1998 from the merger of Citicorp (itself a holding company incorporated in 1967) and Travelers Group, Inc. The $70 billion merger included one of the largest U.S. investment banks, Salomon Smith Barney Inc. , reported 543 brokers in 17 county offices, compared with 545 brokers across 19 offices in 2002, the last time the firm reported data. Jerrold Jerrold may refer to: People with the surname Jerrold:
"A year ago people were very quiet, paralyzed par·a·lyze tr.v. par·a·lyzed, par·a·lyz·ing, par·a·lyz·es 1. To affect with paralysis; cause to be paralytic. 2. To make unable to move or act: paralyzed by fear. ," said Eberhardt. "Beginning in March last year people started looking at investments, gaining confidence, and that grew throughout the year. There is a fair amount of enthusiasm and investors are being more active." With the large fluctuations in the stock market, Eberhardt noted the trend of clients taking a more long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. approach to their assets. "Clients have experienced one of the biggest bull markets and bear markets in their lifetime and people are looking beyond stock and asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. ," said Eberhardt. "They are looking beyond to life plans." Coupled with growing wealth management, Smith Barney's high net worth segment has seen growth over the past few years as well, with substantial investments for clients and financial consultant training, said Eberhardt.
Rank Brokerage L.A. County Services Offered
(Ranking in 2003) Employment (partial list)
* name * securities
* address brokers
* investment
bankers
* total
employees
1 Smith Barney 543 private investments,
444 S. Flower St., 0 lending services, hedge
26th Floor 819 funds, cash and portfolio
Los Angeles 90071 management, retirement,
education and estate
planning
2 Morgan Stanley (1) 530 investment banking,
601 S. Figueroa St., 0 financial planning,
Suite 4575 712 equities and fixed income
Los Angeles 90017 investments, annuities,
equity syndicate, equity
research
3 Merrill Lynch (3) 406 full-service financial
650 Town Center 15 services, financial
Drive, Suite 500 670 planning, business
Costa Mesa 92626 financing, comprehensive
cash management products
4 UBS Financial 405 full-service brokerage,
Services Inc. 55 wealth management,
(4) (2) 690 retirement planning,
725 S. Figueroa St. insurance, investments,
Los Angeles 90017 lending services
5 Farmers Financial 367 mutual funds, 529 college
Solutions LLC (5) 0 savings plans, retirement
2423 Galena Ave. 406 plans, qualified tax
Simi Valley 93065 saving investment plans,
variable life insurance,
variable annuities
6 Wachovia Securities 246 securities transactions,
LLC (13) 0 financial planning,
2 N. Lake Ave., 452 banking and financial
Suite 130 products, estate planning,
Pasadena 91101 trust services, corporate
executive services
7 Transamerica 197 advisory services,
Financial Advisors 0 financial planning,
Inc. (6) 252 retirement planning,
1150 S. Olive St., education planning, estate
Suite T-2501 planning, full range of
Los Angeles 90015 investment products
8 Crowell Weedon & 132 investment advisory
Co. (7) 2 services, personal
1 Wilshire Blvd. 314 financial planning,
Los Angeles 90017 fee-based investment
programs, customized
retirement strategies,
common and preferred
stocks
9 Charles Schwab & Co. 119 investment advisory
Inc. (8) 0 services, fee-based
1900 Avenue of the 120 investment programs,
Stars, Suite 101 personal financial
Los Angeles 90067 planning, active trader
services, banking
services, estate
planning, 401(k)
administration
10 Jefferies & Co. 105 sales and trading,
Inc. (19) 27 investment banking,
11100 Santa Monica 212 security underwriting,
Blvd. financial advisory,
Los Angeles 90025 capital raising, mergers
and acquisitions,
recapitalization and
restructuring
11 Wells Fargo 100 (6) retirement planning,
Investments 3 financial modeling,
Inc. (11) 400 (6) private banking,
333 S. Grand Ave. brokerage, mortgage,
Los Angeles 90071 trust services, portfolio
management
12 A.G. Edwards & 92 securities and commodities
Sons Inc. (9) 0 brokerage, investment
6695 E. Pacific 135 banking, trust, asset
Coast Highway management, retirement
Long Beach 90803 and college planning,
insurance products
13 Western 82 full-service independent
International 2 brokerage
Securities Inc. 82 (7)
70 S. Lake Ave.,
Seventh Floor
Pasadena 91101
14 Wedbush Morgan 75 brokerage, investment
Securities (10) 25 banking, research,
1000 Wilshire Blvd. 310 correspondent clearing,
Los Angeles 90017 client banking, online
trading
15 Bear Stearns (12) 67 private client services,
1999 Avenue of the 14 investment banking,
Stars, Suite 3200 201 municipal bonds, public
Los Angeles 90067 finance, institutional
equity sales, fixed income
sales, commercial
mortgage, clearing
services
16 Zahorik Co. 58 mutual funds, life
Inc. (21) 0 insurance, variable
150 E. Colorado 77 annuities, retirement
Blvd., Suite 100 planning, retirement
Pasadena 91105 plans: 403(b), 401(k),
IRAs
17 M.L. Stern & Co. 47 municipal bonds, stocks,
LLC (14) 0 corporate bonds, stocks,
8350 Wilshire Blvd. 104 mutual funds, annuities,
Beverly Hills 90211 insurance
18 RBC Dain 45 full-service securities
Rauscher (15) 5 firm
9665 Wilshire Blvd., 91
Fourth Floor
Beverly Hills 90212
19 Edward Jones 45 stocks, bonds, mutual
23548 Calabasas 0 funds, CDs, financial
Road, Suite 101 88 services
Calabasas 91302
20 Imperial 44 corporate finance, sales
Capital (18) 10 and trading of high yield
150 S. Rodeo Drive, 64 and distressed bonds,
Suite 100 convertible bonds, bank
Beverly Hills 90212 debt, equities
21 TD Waterhouse (17) 44 brokerage, banking, mutual
9470 Wilshire Blvd. 0 funds, cash management,
Beverly Hills 90212 44 insurance, fixed income,
portfolio planning
22 Brookstreet 35 equities, bonds, mutual
Securities 0 funds, insurance,
Corp. (20) 35 annuities, commodities,
9300 Wilshire Blvd., direct programs
Suite 420
Beverly Hills 90212
23 UB0C Investment 31 mutual funds, annuities,
Services 0 fixed income, insurance,
445 S. Figueroa St. 92 discount brokerage, trust
Los Angeles 90071 services, managed accounts
24 First Republic 29 stock and option trading,
Securities Co. LLC 0 fixed income trading,
1888 Century 76 online and broker
Park East assisted trading,
Los Angeles 90067 portfolio evaluation and
construction, margin
lending, corporate
services, employee stock
option execution
25 Ernst & Young 19 mergers and acquisitions,
Corporate Finance 19 restructuring advisory,
LLC (25) 32 (7) capital markets
733 S. Figueroa St.
Los Angeles 90017
Brokerage Parent Company Profile Top Local
(Ranking in 2003) Executive
* name * headquarters * name
* address * year * title
established * phone
(1)
* offices
(county/
total)
Smith Barney Citigroup New York Jerrold
444 S. Flower St., 1863 (2) Eberhardt
26th Floor 17/500+ sr. v.p.,
Los Angeles 90071 divisional
director
(213) 244-1500
Morgan Stanley (1) same New York Margaret Black
601 S. Figueroa St., 1930 managing
Suite 4575 14/600+ director
Los Angeles 90017 (213) 553-3500
Merrill Lynch (3) Merrill Lynch New York Guy Williams
650 Town Center & Co. Inc. 1925 regional
Drive, Suite 500 14/663 (3) managing
Costa Mesa 92626 director
(714) 429-2820
UBS Financial UBS Zurich, Mike Davis
Services Inc. Switzerland division
(4) (2) 1946 manager
725 S. Figueroa St. 8/341 (213) 253-5458
Los Angeles 90017
Farmers Financial Farmers Simi Valley Brian Cohen
Solutions LLC (5) Insurance 2000 president
2423 Galena Ave. Group 50/472 (866) 888-9739
Simi Valley 93065
Wachovia Securities Wachovia Corp. Charlotte, Terry Chase
LLC (13) N.C. sr. managing
2 N. Lake Ave., 1935 (5) dir., reg.
Suite 130 14/3,300 director
Pasadena 91101 (800) 627-8625
Transamerica Aegon N.V. The Hague, Sandra C.
Financial Advisors Netherlands Brown
Inc. (6) 1967 president
1150 S. Olive St., 15/243 (213) 741-7705
Suite T-2501
Los Angeles 90015
Crowell Weedon & same Los Angeles Donald W.
Co. (7) 1932 Crowell
1 Wilshire Blvd. 5/10 managing
Los Angeles 90017 partner, ceo
(213) 620-1850
Charles Schwab & Co. same San Francisco Hal Smith
Inc. (8) 1975 regional vice
1900 Avenue of the 15/339 president
Stars, Suite 101 (800) 435-4000
Los Angeles 90067
Jefferies & Co. Jefferies New York Chris Kanoff
Inc. (19) Group Inc. 1962 exec. v.p.,
11100 Santa Monica 1/21 dir. of inv.
Blvd. banking
Los Angeles 90025 (310) 445-1199
Wells Fargo Wells Fargo San Francisco Richard Byrd
Investments & Co. 1855 (2) reg. managing
Inc. (11) 3/71 dir.,
333 S. Grand Ave. private
Los Angeles 90071 client svs.
(800) 464-6027
A.G. Edwards & A.G. Edwards St. Louis John Lee
Sons Inc. (9) Inc. 1988 regional
6695 E. Pacific 8/705 manager
Coast Highway (800) 876-0889
Long Beach 90803
Western Concept Pasadena Donald Bizub
International Brokerage 1996 ceo
Securities Inc. Holding Corp. 6/34 (888) 793-7717
70 S. Lake Ave.,
Seventh Floor
Pasadena 91101
Wedbush Morgan E*Capital Los Angeles Edward W.
Securities (10) Corp. 1955 Wedbush
1000 Wilshire Blvd. 6/25 ceo, president
Los Angeles 90017 (213) 688-8000
Bear Stearns (12) Bear Stearns New York John R. Loftus
1999 Avenue of the & Co. Inc. 1968 senior
Stars, Suite 3200 1/20 managing
Los Angeles 90067 director
(310) 201-7700
Zahorik Co. Aegon U.S. Pasadena Randy Russell
Inc. (21) 1953 president
150 E. Colorado 1/same (626) 792-0835
Blvd., Suite 100
Pasadena 91105
M.L. Stern & Co. Pacific Life Beverly Hills Milford L.
LLC (14) Insurance Co. 1980 Stern
8350 Wilshire Blvd. 1/6 ceo, president
Beverly Hills 90211 (323) 658-4400
RBC Dain Royal Bank of Minneapolis Chris Horner
Rauscher (15) Canada (8) sr. v.p.,
9665 Wilshire Blvd., 1929 managing
Fourth Floor 4/140 dir.
Beverly Hills 90212 (310) 205-7745
Edward Jones same St. Louis Maria Pisa
23548 Calabasas NA regional
Road, Suite 101 45/9,075 leader,
Calabasas 91302 principal
(818) 999-4944
Imperial Imperial Beverly Hills J. Reese/
Capital (18) Capital Group 1997 R. Wooster
150 S. Rodeo Drive, LLC 1/3 co-presidents
Suite 100 (310) 246-3700
Beverly Hills 90212
TD Waterhouse (17) same New York Kevin
9470 Wilshire Blvd. 1981 Gallagher
Beverly Hills 90212 8/150 group vice
president
(800) 934-4448
Brookstreet same Irvine Pamela Wilson
Securities 2000 branch manager
Corp. (20) 20/200 (800) 268-2578
9300 Wilshire Blvd.,
Suite 420
Beverly Hills 90212
UB0C Investment Union Bank of Los Angeles Ken Lepore
Services California 1983 president
445 S. Figueroa St. N.A. 62/280 (800) 634-1100
Los Angeles 90071
First Republic First San Francisco Dennis Joe
Securities Co. LLC Republic 1999 manager
1888 Century Bank 8/20 trading and
Park East sales
Los Angeles 90067 (310) 407-7036
Ernst & Young Ernst & Young Chicago Peter H.
Corporate Finance LLP 2001 Griffith
LLC (25) 1/13 chairman
733 S. Figueroa St. (213) 977-3800
Los Angeles 90017
NA - Not Available
(1) In L.A. County.
(2) Year established companywide.
(3) U.S. offices.
(4) Formerly UBS PaineWebber.
(5) Predecessor firm was Bateman Eichler Hill & Richards.
(6) Approximation.
(7) Employees may have dual responsibilities as securities brokers
and investment bankers.
(8) U.S. headquarters.
Note: The information on this list was provided by representatives of
the companies themselves. Brokerages are ranked by the number of
employees in L.A. County offices, respectively. AIG SunAmerica Inc.,
No. 4 last year, may have qualified for this list but failed to submit
information. To the best of our knowledge, this information is accurate
as of press time. While every effort is made to ensure the accuracy and
thoroughness of the list, omissions and typographical errors sometimes
occur. Please send corrections or additions on company letterhead to
the Research Department, Los Angeles Business Journal, 5700 Wilshire
Blvd., Suite 170, Los Angeles 90036. [C]2004 Los Angeles Business
Journal. This list may not be reprinted in whole or in part without
written permission from the editor. Reprints are available from
Wright's Reprints, (800) 494-9051.
Researched by Nicole Taylor
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