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Author: rafferty

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GunnAllen Moves to Upgrade Image

00:00 01 July in In the News by rafferty

by Bruce Kelly and featured in Investment News July, 2006: New York - In an effort to pump new life into its growth plan, GunnAllen Financial Inc. plans to launch a recruiting and advertising campaign by fall that focuses on the services it offers to registered representatives and advisers. The moves come amid recent additions to, and revamping of, the Tampa, Fla.-based firm's roster of executives - including hires from key competitors, such as Wachovia Securities LLC of Richmond, Va. "We have great programs now, the depth and breadth of our platform," said David Levine, senior vice president and director of national sales for GunnAllen. "The message, the identity of the firm, needs to be redefined and better communicated." As proof of the firm's added strength, Mr. Levine cited a number of new hires, including...

Outsourcing – Ways to Cut Overhead Expenses

00:00 01 June in Articles Written by Jon Henschen by rafferty

by Jonathan Henschen, CFS and featured in Producers Web June, 2006: It’s not uncommon for me to run into advisors who are paying up to five salaried assistants, and whose production is down around $500,000 in Gross Dealer Concession--their total net revenues from commission product sales and fee-based income. That’s a lot of overhead eroding what these advisors are actually netting at the end of the year! Even though our industry thinks almost exclusively in terms of “GDC,” an advisor’s “net revenues” are the true benchmarks of success. That means, the lower the cost of doing business, the more profitable the advisor! To prove my point, I recently began making highly profitable use of the outsourcing resources described here. As a result, my modest little experiment has reduced my business overhead. Big Time! See...

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Recruiting Wars – Freedom and Culture

00:00 01 June in In the News by rafferty

by James J. Green and Ryan G. Murphy and featured in Investment Advisor June, 2006: Greg Sauer of The Primary Group is in that same business. Speaking on a panel addressing the state of recruiting at the Fidelity Executive Forum in Scottsdale, Arizona, in April, Sauer said he had detected some major shifts in rep portability over the past five years. “Pre 9/11,” he said, referring to the reasons reps would change B/Ds, “it was all about the money.” Post-9/11, everyone stayed put, but now, Sauer sees more rep movement due to the perception that service might be better on the other side of the fence. Moreover, “human factors” are more important to reps these days, he argues, and maintaining a good quality of life is a key factor in their...