4 brokerage firms beef up adviser-training programs

10/17/2010 | Reuters

After cutting back due to the recession, the four big brokerage firms -- Morgan Stanley Smith Barney, Wells Fargo Advisors, UBS and Merrill Lynch -- have expanded their training programs as it becomes harder to lure financial advisers from other firms. But experts say it is still a tough environment for trainees -- and even in a strong market, firms retain only 25% of the advisers being trained.

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