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Non-Tech : Traditional brokers/SEC conspiracy

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To: nick nelson who wrote (37)10/6/1999 2:05:00 PM
From: Wiselight   of 104
 
Wall Street has less and less time for small investors.

Excerpt from a Merrill lynch internal document:

"...We must put limit to on the amount of charity work that we will do or we will not have time to service and grow our base of customers willing and able to pay for quality advice. Remember, velocity on assets is not going to go up, so the game is still more assets in bigger accounts. If there are still FCs that really enjoy servicing small accounts, please let me know, and I will get you a nice salaried job in the Investor Services Group where you can deal with poor people to your heart's content."
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