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Author: rafferty

The Hartford Breakup: What It Means for Woodbury Reps

21:45 22 March in In the News by rafferty

by John Sullivan and featured in AdvisorOne March 22, 2012 “It’s part of a trend of large insurance companies parting ways with their broker-dealers,” a research director with FA Insight said One day after announcing its exit from the life insurance and annuity businesses and the potential sale of Woodbury Financial Services, The Hartford remains mostly mum on the details moving forward. Industry recruiters and watchers, however, have plenty to say about what they believe to be the reasons behind the move and its potential impact on the advisor space. “It’s part of a trend of large insurance companies parting ways with their broker-dealers,” said Dan Inveen, director of research with Tacoma, Wash.-based FA Insight. “It’s tougher to earn money off of annuity-based products, primarily due to lower interest rates. But regardless of the interest rate environment, it’s...

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Lincoln to hit some RIAs with up to $20K in new fees

00:56 16 March in In the News by rafferty

March 15, 2012 by Bruce Kelly and featured in Investment News Lincoln Investment Planning Inc., a fast growing independent broker-dealer, is hitting its reps and advisers who run their own RIAs with a new, annual supervision and compliance fee of up to $20,000. Lincoln executives sent a letter this week to those reps and advisers who have their own registered investment advisory firms to inform them of the new fee. The supervisory fee will range from $5,000 to $20,000 and is based on the number of advisers at each practice, the assets managed - and Lincoln Investment's opinion of the risk, according to Ed Forst, the firm's CEO. The fee hike, which is scheduled to take effect on July 1, will affect about a dozen offices of Lincoln Investment Planning reps and advisers, said Mr....

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The Financial Advisor Balancing Act

16:51 02 March in Articles Written by Jon Henschen by rafferty

March 2012 by Jonathan Henschen and featured in Investment Advisor Will your life legacy read like a resume or a storybook rich in relationships? American culture exalts accomplishment and makes it a focal point for self-worth. Our industry is no different. In our recruiting interviews, reps list off accomplishments in terms of advanced college degrees, professional designations and the all-important production level. While all these achievements are admirable (who doesn’t want to build a lucrative book?), is it the legacy you want to leave? Building Personal Legacies Many of us grew up in families where accomplishment held much higher value than relationships, and we struggled to find role models for strong interpersonal skills. My father was a partner in the accounting firm Price Waterhouse for 15 years and later vice president of Bethlehem Steel. Success in...