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Author: rafferty

Which Indie B-Ds Are Winning the Recruiting Wars (And Why)

21:08 28 February in In the News by rafferty

February 28, 2020 By Mrinalini Krishna, Financial Advisor IQ As advisors walk away from wirehouses, independent broker-dealers have been welcoming them in. “The move to independence continues to gain steam because it’s no longer mysterious,” says Mark Elzweig, president of the New York-based recruiting firm that bears his name. “Everyone knows advisors who have gone independent and are thriving, so it’s a very real option." IBDs such as LPL Financial, Raymond James and Ameriprise Financial, in particular, have been successful in attracting wirehouse breakaways, says Louis Diamond, executive vice president and senior consultant at Diamond Consultants. Other firms, such as Commonwealth Financial, Cambridge and Kestra Financial have likewise drawn talent from wirehouses or employee channels, but to a lesser degree, he adds. What’s the appeal? Higher payouts are the leading factor drawing advisors to the IBD channel,...

Financial Advisor IQ a Financial Times Service

Rising Loan Levels Reflect Big Recruiting Push At Stifel, LPL

17:38 27 February in In the News by rafferty

February 26, 2020 By Mrinalini Krishna Big jumps in advisor loans reported by Stifel Financial and LPL Financial reflect concentrated recruiting efforts at those shops that can set the tone across the industry, recruiters and company executives say. Stifel, for its part, issued $213.2 million in up-front transition support loans to advisors who joined its ranks last year, recent filings show. That level represents a 77% surge compared to 2018 and the most the firm has extended since 2015, when it logged $240.8 million in advisor loans issued. At that time, nearly three-quarters of the total, or $174.8 million, went to “associates of acquired companies for retention,” the firm’s 2015 annual report indicates. Stifel acquired 1919 Investment Counsel in 2014 and a year later picked up Sterne Agee and Barclays’ U.S. wealth and investment...

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OpEd: The Market’s Immune System May Be Compromised

17:40 26 February in Articles Written by Jon Henschen by rafferty

February 25, 2020 By Jon Henschen, WealthManagement.com The coronavirus gets all the blame for the market implosion, but about two-thirds of these 19 bear market warning signs compiled by Bank of America were already flashing red. Does that mean the market’s immune system is compromised? The market has been able to shrug off numerous bearish indicators, but can it shrug off the coronavirus? Given that the S&P 500 is down close to 8% since Friday's close, is this the infection that kills the bull market? While prior recessions popped singular market bubbles, we are now experiencing the “everything bubble,” which includes stocks, real estate and bonds. Many theories abound as to how much longer the bull market can hold up: From Brent Johnson’s “Dollar Milkshake Theory”—the notion that keeping the dollar strong over the next few years, combined...