Brokers could bolt from wirehouses when economy stabilizes

The steady exodus of registered reps from wirehouses is expected to accelerate dramatically over the next 18 months, according to a report from TowerGroup.

Anywhere from 7,500 to 9,000 more reps could move to independent advisory firms by the end of next year, according to the company.

The Needham, Mass.-based consulting firm noted that a massive portion of this migration — which would account for 12% to 14% of the total number of wirehouse reps remaining — could take place in late 2010 when markets are likely to be less rocky.

Many workers don’t move 401(k)s when terminated, study finds

A large number of people let the money in their 401(k) plans languish after they lose their jobs — or simply choose to cash out their retirement accounts once they're terminated — according to a new report released by The Charles Schwab Corp.

Specifically, 43% of the 401(k) assets belonging to participants who were terminated from their jobs in the first quarter of 2008 are still sitting in their former employers' plans, according to data from the San Francisco-based company.

Many workers don’t move 401(k)s when terminated, study finds

A large number of people let the money in their 401(k) plans languish after they lose their jobs — or simply choose to cash out their retirement accounts once they're terminated — according to a new report released by The Charles Schwab Corp.

Specifically, 43% of the 401(k) assets belonging to participants who were terminated from their jobs in the first quarter of 2008 are still sitting in their former employers' plans, according to data from the San Francisco-based company.