158 THE SECURITIES INDUSTRY sory and compliance personnel, who are supposed to keep customers safe, and upper management, which is more concerned with the bot- tom line. In this chapter, we will look at that tension and see how the industry protects brokers whom it knows to be dangerous. We will also explore the mechanics of how compliance personnel identify bro- ker misconduct, and how a vigilant investor can use that knowledge to better protect her nest egg. Finally, we'll see how the seemingly innocuous paperwork associated with any brokerage account can help us identify an unethical broker. Profits Above People Before its 2007 merger with Wachovia Securities, Inc., A.G. Edwards had a proud tradition of independence. 1 Founded in 1887 in St. Louis