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Author: rafferty

Consolidation 2012: Lincoln Scoops Up Capital Analysts for HNW Foothold

16:07 08 February in In the News by rafferty

by Diana Britton and featured in Registered Rep, February 8, 2012 Lincoln Investment Planning, an independent broker/dealer in Philadelphia, announced it will acquire independent broker-dealer Capital Analysts from insurance firm Western & Southern Financial Group. The move will add some 250 advisors to Lincoln, many with a strong focus on the high net worth market, said N. Mark Marr, chief financial officer of Lincoln. Terms of the deal were not disclosed. Lincoln, not to be confused with Lincoln Financial Group, has its roots in the 403(b) and mass affluent investor space, but the Capital Analysts is part of a strategic plan to capture an edge in the high-net-worth space, Marr said. Lincoln has an aggressive growth plan, including the acquisition of Great American Advisors in 2010, which added more than 300 advisors....

Cetera Acquires Genworth, Rounds Out Business Mix

16:20 09 January in In the News by rafferty

by Diana Britton and featured in Registered Rep, January 9, 2012 Cetera Financial Group announced plans Monday to acquire Genworth Financial’s broker/dealer, Genworth Financial Investment Services (GFIS), expanding its network of broker/dealers. The move will add around 1,800 financial advisors who focus on tax and accounting services to the 5,000 already divided between Cetera’s three broker/dealers Multi-Financial , Financial Network and PrimeVest Financial. The GFIS acquisition is expected to close in 90 days. According to Genworth Financial’s web site, Cetera Financial paid $78.5 million for the broker-dealer. There is also an earnout provision based on the broker-dealer hitting revenue goals over a one-year period. Genworth expects to record a $15 million after-tax gain related to the sale of the broker-dealer. Cetera is in growth mode. Last month, the firm's Multi-Financial announced a recruiting...

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Finding the Right Safety Net

17:36 06 January in Articles Written by Jon Henschen by rafferty

January 2012 by Jonathan Henschen and featured in Investment Advisor 2010 was the year of going nowhere. 2011 was much better. What does 2012 hold for broker-dealer recruiting? When changing broker-dealer, transition time is typically brief—only one or two months. Yet often, Financial Advisors place the weight of the world on this early part of the relationship, the "honeymoon period." They are enticed by what appears to be a sweet offer, and end up making a compromise that undoes their reasons for making the change in the first place. That compromise is usually in the form of upfront transition money. Upfront Transition Money Doesn't Always Pay Off Making the right choice when switching to a new broker-dealer is crucial in terms of retaining clients during the transition. We encourage our clients to set their...