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Author: rafferty

Financial Advisor IQ a Financial Times Service

Retaining Advisory Talent Amid a Cash Crunch

16:24 15 May in In the News by rafferty

May 15, 2020 By Mrinalini Krishna, Financial Advisor IQ One way to incentivize advisors without actually spending money is offering equity compensation, and this strategy is gaining momentum amid the financially-challenging coronavirus pandemic, according to a consultant. While offering equity compensation and non-voting shares as incentives has been gaining ground over the past few years, consulting firm Succession Resource Group has helped RIAs seal double the number of such incentive deals in the beginning of the second quarter compared to previous years, says CEO David Grau Jr. “We’re seeing more people than ever before leveraging equity compensation as part of the compensation package, whether using [a] phantom equity plan, sharing non-voting stock in the company, as a way to retain their top talents without having to use actual cash that they need and want...

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Ex-Ladenburg BDs May Face Culture Clash

15:27 13 May in Articles Written by Jon Henschen by rafferty

May 12, 2020 By Jon Henschen, ThinkAdvisor Layers of questions now come up around fees, compliance policies and back-office services. For advisors at the three midsize broker-dealers formerly owned by Ladenburg Thalmann and now being merged under Advisor Group ownership, what’s most difficult as they look ahead is that their BD ties are relationship-driven, and the BD culture matters to them. Those advisors with KMS Financial Services, Securities Service Network and Investacorp who are largely self-sufficient and don’t use the back office very often may not feel much impact from these changes. But for advisors who use the back office on a regular basis and have easy access to key staffers whom they rely on, their world will be changing greatly. (KMS, SSN and Investacorp will become part of Securities America by year-end, while Triad...

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Advisor Group’s BD Consolidation a ‘Sign of the Times’

14:44 12 May in In the News by rafferty

May 11, 2020 By Janet Levaux, ThinkAdvisor Industry watchers weigh in on the plan to merge three former Ladenburg Thalmann BDs into Securities America. Advisor Group said Monday that three of the five independent broker-dealers it bought recently from Ladenburg Thalmann will be merged into Securities America, the largest BD in this network. Industry watchers reacted to the news with a bit of a shrug, seeing it as part of the consolidation overall across the advisor landscape. Data compiled by the Financial Industry Regulatory Authority puts the latest BD tally at about 3,500, down from roughly 4,700 a decade ago. “This consolidation in the IBD space is another sign of the times,” said Tim Welsh, head of the consultancy Nexus Strategy. “With zero commissions, cash spreads at micro-levels and market lows, it is an incredibly...