sidebar

Connect: 888-821-8107

Connect: 319-210-7700

archive

Author: rafferty

ThinkAdvisor logo

How Super OSJs Bring Innovation to Broker-Dealers

23:50 28 May in Articles Written by Jon Henschen by rafferty

May 28, 2015 By Jon Henschen, as published on ThinkAdvisor   In an article published in the January 2006 issue of Investment Advisor Magazine, I wrote about how a Producer Group can extend the reach and profitability of a rep’s practice. In the past two years, we’ve seen exciting new value propositions coming from these producer groups. For those not familiar with producer groups, they are a large grouping of financial advisors (also called Super OSJs) that joins together with either a single OSJ (Officer of Supervisory Jurisdiction) or multiple OSJs within the group, with all advisors in the group tied to a single broker-dealer. In my 2006 article, I pointed out that when advisors join together they reap benefits beyond what they can get from the broker dealer alone: Scale that will bring more...

LPL Pushes Upstream to Court HNW Clients

16:44 27 May in In the News by rafferty

May 27, 2015 By Danielle Verbrigghe, FUNDFfire  LPL Financial is arming its advisors to attract high-net-worth clients and hitting the road to promote its new private client program. LPL first started offering its new private client program, which includes consulting services, practice management, research and technology resources geared at helping advisors attract and serve high-net-worth clients, late last year to a selective group of advisors. Now the firm has opened the program up to its entire force of more than 14,000 advisors across its independent broker-dealer and registered investment advisor (RIA) channels. The firm has also stepped up efforts at promoting the new offering, hoping to drive growth in the high-net-worth segment. As part of its efforts, LPL is calling on its third-party asset management partners to play a role in helping educate advisors about tactics...

Wealth Management logo

Another Small B/D to Close Up Shop

16:30 27 May in In the News by rafferty

May 26, 2015 By Diana Britton, WealthManagement.com   After five years in business, David Kassir, owner and CEO of Falls Church, Va.-based broker/dealer Manna Capital Management, closed up shop this month. He then joined Wells Fargo Advisors Financial Network as an independent practice, bringing with him $77 million in assets. “There’s no way on Earth one or two people can run a broker/dealer and sustain in this environment and be profitable,” Kassir said. “Unless the regulations change, it’s a broken model and that we will continue to see ...