In the News

With No Deal in Sight – AIG Advisers Ready to Jump Ship

00:00 01 November in In the News by rafferty

by Darla Mercado and featured in Investment News November, 2008: John Hancock Financial Services Inc. today will announce a dramatic overhaul of its business model in which some of its 1,800 representatives have the option of going independent. Under Hancock's new structure, as of Jan. 1, reps may elect to go independent, which would allow them to expand their menu of product offerings and give them more control over how they market their businesses. The new model also allows for groups of independent reps to band together to form a so-called producer group, providing insurance and investment services. Reps may also choose to maintain a traditional relationship with Boston-based Hancock as statutory employees, in which case they would receive a high level of support as well as a subsidized health and retirement plan from...

Should I Stay or Should I Go?

00:00 01 July in In the News by rafferty

by Mike Werling and featured in Boomer Market Advisor July, 2008: When is it time to break the chains of your broker/dealer realtionship? What factors play into an advisor’s decision to change broker/dealers? Three of the biggest are service, compliance and culture. Does your current broker/dealer measure up or fall short? The answer could determine your next move. Ed Grogan had an issue with his broker/dealer-provided Web site one day, and he needed answers. He sent an e-mail detailing his problems to the appropriate person. In short order, he got the answers he needed – plus a little more. “I got a reply complete with captured screen shots to walk me through it,” says Grogan, president of Summit Financial Group (www.summitplans.com) based in Gig Harbor, Wash. He adds that at Commonwealth that level of service...

Power of the Platform

00:00 01 June in In the News by rafferty

by Kara P. Stapleton and featured in Investment Advisor June, 2008: LPL will build a custodial offering for its own - and outside - RIAs Schwab, Fidelity, and Pershing have a new competitor, now that LPL Financial has taken what many consider to be the next logical step as the broker/dealer industry moves to the fee side of the business--becoming a custodian to non-affiliated RIAs as well as dually registered advisors already affiliated with LPL. On May 5, LPL announced plans to roll out its new custodial venture in late 2008--an integrated custodial platform that will provide independent RIAs and hybrids with access to a range of investment products and services, service staff, and technology. "This is a big change for us and a big change for the industry," notes LPL CEO Mark Casady....