 The Wild Wild World of Wealth |  |
SQUIDS are the stockbrokers who wrap themselves around senior management at their firms. They don’t cold call. They prospect inside their own walls and play brokerage-house politics Chances are, you won’t meet them unless your firm is an investment-banking client and you’re a senior member of the company.
These brokers are really, really good at latching onto their bosses and glomming referrals. But be warned. SQUIDS are more than top producers. They’re top predators, capable of handling any of Wall Street’s sharks as you will see from the video.
Like their invertebrate namesakes, SQUIDS lack backbone when it comes to investment advice. They play it safe and avoid blow-ups. They’re experienced. They weather storms—a characteristic that sounds attractive in the wake of 2008. But SQUIDS don’t care about you. They’re loyal to the senior managers who a) make referrals and b) chop them into calamari if problems surface with investment banking clients.
Check back as we continue our presentation. Once the series is complete, we will post our complete white paper on the Top 10 Species of Stockbrokers.
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