Resignations from Wilson HTM Rock Industry

Speculations and rumors abound in the sharebroking community last week when two of the biggest writers for Wilson HTM apparently let the company. Their departure also triggered the resignation of four other brokers. 

The writers in question, Joe Pagliaro and Wren Bligh, left at a time when the company is said to be facing problems with its sharemarket values.  Wilson HTM reportedly stands to lose about $8 million annually.  Their departure, according to analysts, also indicates other problems within the community of stockbrokers in Australia. 

The fact is, many brokers are leaving their highly favored status to work for less-regulated companies or jobs that are not redundant. Reports say that the last couple of years also saw the merger or collapse of 20 brokerage firms. Many have cut their staff by half or have initiated freeze hiring. 

Companies have to do these measures because the market, in the last seven years, hasn’t had a good break with trading volumes. Many brokers at the Australian Stock Exchange (ASX) say that what is happening is excruciating. 

Analysts say that the mindset of this industry is changing and taking a new shape. One of the factors that make this even more complicated is that many investors prefer to do online trading, as opposed to the traditional model. 

Meanwhile, there is the expected introduction of the cash market margining scheme where participating brokers can earn percentages for every equities traded on deposit with the ASX. This is deemed as more “shock-proof” for brokers and could also work for small time investors.