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Brokers Profit Despite Mayday Stock Commission Drop
A May 1 1975 shift to unbundled fees failed to trigger mass turmoil on Wall Street. Firms report steady profits in Q3 and a modest uptick in member firms from 505 to 513, while price competition squeezes margins and drives cost cutting. Unbundling research remains limited but some firms shift strategy toward specialized or diversified models.
MENTIONED IN THIS ARTICLE
Wall Street
Lewis A. Engman
Federal Trade Commission
Wall
Auerbach, Pollack & Richardson
Coleman & Co
Oppenheimer & Co
Mayday
Smith Barney
Harris Upham
New York Stock Exchange