sidebar

Connect: 319-210-7700

Connect: 319-210-7700

archive

Author: rafferty

Investment News logo

More Indie Brokers Bulk Up On Recruiters

00:00 01 February in In the News by rafferty

by Bruce Kelly and featured in Investment News February, 2006: New York - Inspired by the tremendous growth of Linsco/Private Ledger Corp. and its ability to recruit brokers and advisers, a number of independent-contractor broker-dealers are following the industry pacesetter's recruiting model by building staff in order to snag brokers. Linsco's affiliated sales force has soared, reaching 6,454 registered brokers and advisers at the end of last year, up from 4,700 in 2003 - an increase of 37%. The San Diego and Boston based company and its top executives reaped the rewards of that growth when it was valued at $2.5 billion in a sale of 60% of the broker-dealer to two private equity firms. Now other independent-contractor broker-dealers apparently are taking a page from Linsco's handbook and hiring regional recruiting staffs to troll...

Investment News logo

Woodbury Draws Reps with ‘Human Touch’

00:00 01 January in In the News by rafferty

by Bruce Kelly and featured in Investment News January, 2006: New York - One growing insurance-owned broker-dealer says that it is the human touch that keeps and attracts registered representatives. The market is such that "with meaningful reps, they want to find a home and stay there," said Brian Murphy, chief executive of Woodbury (Minn.) Financial Services Inc. Since its parent, The Hartford (Conn.) Financial Services Group Inc., acquired broker-dealer Fortis Investments Inc. of Boston almost five years ago, Woodbury has grown at a rate of 15% annually, he said, reaching about $175 million in gross revenue last year. The firm has nearly 2,100 affiliated registered reps and 200 employees. The reps hail from other independent-contractor firms, with several large-producing groups scheduled to join Woodbury this month, Mr. Murphy said, adding that reps both join...

Characteristics of Top Producers

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

by Jonathan Henschen, CFS and featured in ProducersWeb January, 2006: Success is a journey, not a destination. Top producers live that credo because it enables them to excel while enjoying what they do, feel motivated, energized and satisfied. After consulting with a wide variety of advisors, as I do, certain personal characteristics have inevitably emerged. And it’s typically those characteristics that differentiate top producers from the others. Now, the term top producer is relative, since advisors producing $200,000 in Wyoming can be every bit as successful as advisors producing $500,000 in San Francisco or New York City. So we’ll leave the quantitative definition of top producer open to your interpretation; instead, we’ll detail these eight qualitative personal characteristics of highly successful financial services professionals. Character and integrity Hardship and difficulty do not create character and...