Sunday, September 10, 2017

The Ghosts within Wells Fargo are alive and well..............

Look at the names below and see if you can find a common denominator.

Kidder Peabody & Co. Inc.

Drexel Burnham Lambert

Thomson McKinnon

Prudential Bache

Prudential Securities

A. G. Edwards & Sons, Inc.

First Union Securities

See a common thread? Probably not, but all of them, are names that are no longer in existence as brokerage firms. Amazing.

They are the names of every brokerage firm I was ever associated with, many names having changed while I was working in the same seat, wiith the same phone number, with the same manager.

Today it is about keeping your seat, selling the investment product de jour, global scale, trying to compete with the likes of BofA/Mother Merrill herself, keeping the compliance departments happy and trying to dish out the latest IPO that was no doubt the product of some private equity deal or venture deal in the fairly recent past. The liquidity out there is amazing and these firms trying to buy brokers and assets continues to make little sense for investors.

These deals aren't geared to make money for anyone except the honcho's at the brokerage firms.

And they are geared to separate the assets of the customers from the customer.

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Native American Advisors CHIPPEWA PARTNERS

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CHIPPEWA PARTNERS, Native American Advisors, Inc. is a Registered Investment Advisor, founded by Dean Thomas Parisian in 1995. The firm is a manager to an exclusive clientele and is closed to new clients. As a Registered Investment Advisor, our expertise developed over 35 years balances experience, integrity and tremendous work ethic. Dean Parisian is a member at the White Earth Reservation of the Minnesota Chippewa Tribe, a former NYSE and FINRA arbitrator and trader who began his career with Kidder Peabody and later worked for Drexel Burnham Lambert in LaJolla, CA. His philanthropic interest is in Native American education and he's endowed a significant scholarship for Native Americans at the University of Minnesota. His greatest accomplishment includes raising two sons and 26 years of marriage. The Parisian family enjoys outdoor pursuits at Pamelot, their farm in Tennessee and at the Ghost Ranch, their ranch on the Yellowstone River in Montana. For media requests contact the firm via email: ChippewaPartners (at) gmail dot com, on Twitter: @DeanParisian. Global 404-202-8173