Kelton said that Vanguard might make an exception if a customer could show different beneficiaries were needed.
The Fox-Pitt, Kelton team suggests several reasons why a big cross-border deal is unlikely in the near future.
Swiss Re is selling its Fox-Pitt, Kelton investment bank to a consortium of Fox-Pitt managers and the investment firm J.
"I think what it showed was the manual capacity isn't there anymore, " said Edward Ditmire, an analyst at Fox-Pitt Kelton.
No, says Kelton, because it could drag Vanguard into family disputes, and curbing litigation is one reason it's changing its policy.
David Trone, an analyst at Fox Pitt Kelton Cochran Caronia Waller, agrees.
"On the busiest days there is a premium put on speed, " says Edward Ditmire, an analyst who covers the markets at Fox-Pitt Kelton.
But Ditmire from Fox-Pitt Kelton says the so-called hybrid half-human, half-electronic system at NYSE "is at a relative disadvantage" on days like Thursday.
Richard Kelton, a collector in Los Angeles, began buying aboriginal art pieces during holiday journeys to Australia simply because they were appealing to his eye.
"The company would only take this painful step in an effort to cease the drumbeat of negative perceptions, " says David Trone, an analyst at Fox-Pitt Kelton.
David Trone, an analyst at Fox Pitt Kelton, said the firm had operational and execution problems that made the embattled Lehman Brothers look good in comparison.
Kelton says a customer should indicate on the form the percentage each heir is to get and the executor of his estate can split the IRA up.
The Kelton Research survey on vacation patterns found workers worried about falling behind at work or simply feeling that they had too much to do to step away.
"We believe any broker could befall the fate of Bear, which had no more credit exposure issues than the other four, " says David Trone, an analyst with Fox-Pitt Kelton.
The deal would be "a way in which Bear could have a local partner without extended capital risk, " wrote David Trone, an analyst at Fox-Pitt Kelton, in a research note Monday.
In a survey released today by Kelton Research and sponsored by Sybase, 90% of IT managers said they planned to deploy new mobile apps this year (see the press release).
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But an analysis of monthly deposit-growth rates at large commercial banks by Fox-Pitt, Kelton, an investment bank, shows a slowing that started in August 2003 and became more marked in 2004 and 2005.
Vasco Moreno of Fox-Pitt, Kelton, a stockbroker, says that fully 22%, or euro16 billion, of the bank's gross lending fell into the category of non-performing or problem loans at the end of 2000.
"We are very disappointed in the pre-announced results and the about-face by management with respect to its comfort level with asset marks and its capital position, " noted David Trone, an analyst at Fox-Pitt Kelton.
Colin Kelton, the Vanguard official who signed the July letter, argues customers are getting adequate advance notice and will get a second letter in September alerting them that the beneficiary change has been made.
In a recent Kelton Group study my firm commissioned, titled Social Commerce: Buying Behavior and Influence Online, consumers were asked who they were likely to trust the most and least for product recommendations.
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Some 74 million shoppers are expected to visit stores during the holiday weekend, giving up sleep (68%), breakfast (48%), and even showering (36%) in order to start deal-hunting as early as possible, according to a survey by Kelton Research and Diamond Foods.
"Crawford and Cruz are two rising stars who apparently will be put through the test over the next few years, assuming Purcell remains in place, to determine who is best suited to take over the reins, " says David Trone, an analyst at Fox-Pitt Kelton.
NYSE's Arca electronic trading system is known to have higher pricing than even Nasdaq, analysts said, and is seen as vulnerable to the attack from BATS. Arca charges 10 cents per 100 shares on a round trip, according to Fox-Pitt Kelton analyst Edward Ditmire.
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