After Alliance Bernstein stock dropped from $90/share to $10 or so it was obvious that some serious trash disposal was called for. After all, AB is supposed to be a big research house based investment firm. And despite all this research expertise, AB just went over the cliff like everyone else. And I hope you noted that last quarterly dividend...7 cents/share..That said, it is great IMO that AB get rid of as many old goats as possible. And this includes so called "financial advisors",too. With as many people on wall street looking for jobs all of this trash can be replaced EASILY. AB has a new CEO and just named a new head of trading. The retirement business is building up, and I'm adding AB shares to my account. I expect great capital gains and MUCH bigger dividends than 7 lousy cents/share!
good luck w that, these are the worker bees who did the heavy lifting like bringing in the assets and keeping them there when performance sucked, they've moved on to get paid what they deserve and not be tortured by senior management