who challenged an entrenched establishment, leaving a legacy that continues to shape modern finance.
Christine Parker, CFP ®, APMA ®, CRPC ®, CSRIC ®, is the founder of Parker Financial, LLC, a fee-only registered investment advisory firm based in Maryland. The firm specializes in serving family fiduciaries and caregivers who manage significant financial responsibilities.
Muriel Siebert Collection, Box 79, File 12, Baker Library, Harvard Business School
Muriel Siebert & Co. advertisement:“ How Muriel Siebert Cuts Your Investment Commissions 50 %.” September 13, 1976.
Boomers helped restore US economic strength and reshape the financial services landscape. Their influence sparked decades of financial innovation. Consistent contributions to IRAs, 401( k) s and brokerage accounts channeled trillions of dollars into the capital markets, providing essential funding for business growth, entrepreneurship and job creation across the economy.
As the first Baby Boomers turn 80 in 2026, their influence will continue to shape the emerging silver economy, driving demand for wealth management, financial planning, digital tools and behavioral guidance. Controlling an estimated $ 86.53 trillion in assets today, Boomers remain a dominant force in shaping financial markets and household wealth.
Mayday marked the opening of Wall Street to market-based pricing, investor access and structural reform. It signaled the rise of discount brokerage firms, the unbundling of financial services, the growth of index funds and the emergence of financial advice and planning. Each of these developments was driven not by ideologues, but by pragmatic reformers
Sources
Bogle, John C.“ The Index Mutual Fund: 40 Years of Growth, Change, and Challenge.” Financial Analysts Journal. 72( 1): 9 – 13. 2016.
Gerald R. Ford Presidential Library.“ Remarks on Signing the Securities Acts Amendments of 1975.” June 4, 1975.
Haack, Robert. Competition and the Future of The New York Stock Exchange. Remarks at the Economic Club of New York. Washington, DC: SEC Historical Society. November 17, 1970.
Martin, William McChesney Jr. The Securities Markets: A Report, with Recommendations to the Board of Governors of the New York Stock Exchange, Inc. Washington, DC: SEC Historical Society. August 6, 1971.
Securities and Exchange Commission. The Absence of Fixed Rates of Commissions on Securities Transactions: Report Pursuant to Section 6( e)( 3) of the Securities Exchange Act of 1934. Washington, DC: SEC Historical Society. December 1, 1975.
Siebert, Muriel with Aimee Lee Ball. Changing the Rules: Adventures of a Wall Street Maverick. New York: Free Press. 2002.
Schwab, Charles. Invested: How Charles Schwab Revolutionized Investing with Innovation and Customer Service. Crown Currency. 2019.
Sommer, A. A. Thoughts on Approaching“ Mayday”: An Address to The University of California Securities Regulation Institute. Washington, DC: SEC Historical Society. January 9, 1975.
US Department of Justice. Report on Commission Rates Charged by Member Firms of the New York Stock Exchange. Washington, DC: SEC Historical Society. April 1, 1968.
Zecher, Richard J. Concentration in the Securities Industry. Washington, DC: SEC Historical Society. October 28, 1977.
Zweig, Jason.“ How Mayday Remade Wall Street.” The Wall Street Journal. May 1, 2015.
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