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Author: rafferty

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Advisor Group Nabs LPL Exec to Lead Wealth Unit

15:42 31 March in In the News by rafferty

March 31, 2020 By Janet Levaux, ThinkAdvisor The Advisor Group of independent broker-dealers, which completed its purchase of the Ladenburg Thalmann in mid-February, says it has hired a former executive from LPL Financial and made a series of other leadership shifts. Gregory Cornick is now Advisor Group’s president of Advice and Wealth Management. He was with LPL for the past six years and served as executive vice president, treasurer and head of Corporate Development and Advisor Financial Solutions. (LPL is self-clearing, while Advisor Group and Ladenburg firms are dual clearing.) But Jamie Price, president and CEO of Advisor Group, insists the role being assumed by Cornick was “on the docket” prior to the Ladenburg deal. “We want to continue to forge the senior leadership team to drive our growth strategy …, and that’s not defined by...

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Is Your Broker-Dealer a Doomsday Prepper?

16:03 12 March in Articles Written by Jon Henschen by rafferty

March 11, 2020 By Jon Henschen, ThinkAdvisor   Your BD's readiness, or lack thereof, to handle a bear market can affect you in many ways. Doomsday preppers live by the credo, “Hope for the best but plan for the worst.” For broker-dealers, doomsday equates to a long, deep, protracted recession where stock market prices drop 30-40% or more and do not recover for an extended period. During a recent discussion with an advisor who has 10 years of experience, it dawned on me that he had never experienced a market correction while in the business. The 2007-’09 market crash resulted in a surge in arbitration filings (dominated by complaints over market losses), as well as a big uptick in tax liens and bankruptcies due to upside-down mortgages that rained on the house-flipping frenzy, as well as...

Vern Coates Joins Independent Broker Dealer Recruiter Henschen & Associates as Senior Vice President of Business Development

21:49 02 March in In the News by rafferty

Press Release Minneapolis March 2, 2020 With the appointment of Vern Coates, Henschen & Associates brings 30 years of industry experience and 60 unique broker dealer value propositions to financial advisors looking to change broker dealer.   Henschen & Associates announces the appointment of Vern Coates to Senior Vice President of Business Development. Coates brings 12 years of financial services industry experience, where his primary focus has been to help financial advisors find the right independent broker dealer for their practice. Before joining Henschen & Associates, Coates was at Berthel Fisher & Company Financial Services Inc., an industry-leading financial advisory firm headquartered in Cedar Rapids, Iowa. At Berthel Fisher, Coates held two positions for two separate broker dealers under the same parent company. Most recently, he was Regional Director Business Development, where he served as a trusted resource for over 200 financial advisors looking to increase revenue, complete...