In the News

Find the Perfect Broker/Dealer Match

00:00 01 October in In the News by rafferty

by David Port and featured in Boomer Market Advisor October, 2007: The question greets visitors to the Henschen & Associates Web site in big, bold letters: “The grass can be greener, but over which hill?” It’s much more than a rhetorical question for advisors who are assessing the state of their broker/dealer relationships or contemplating the wisdom of seeking greener pastures with an entirely new firm. Given the transitional headaches that seem inevitably to accompany a change in broker/dealers, reps who have endured the process say the overall proposition offered by the broker/dealer to make a switch must be compelling. “It is a huge undertaking for a rep to change broker-dealers in today’s environment”,” says Cliff Oberlin, CEO of NRP Financial, an independent broker/dealer based in Bryan, Ohio. “I wouldn’t want to do this again,”...

Aggressive Offers Help Indie B-Ds Recruit National Planning Holdings

00:00 01 October in In the News by rafferty

by Bruce Kelly and featured in Investment News October, 2007: Independent broker-dealers making lucrative and inventive offers to recruits appear to be gaining interest and attracting reps, with two firms saying they have recently found traction with advisers. In April, the four broker-dealers in Santa Monica, Calif.-based National Planning Holdings Inc.'s network began offering independent-contractor reps and advisers an astounding 42.5% of their previous 12 months' fees and commissions to join. The offer, which is in the form of a forgivable loan and transition money, ended yesterday. “It's been very popular,” said Jim Livingston, chief executive of NPH. “The pipeline is reasonably full.” Brokers needed to sign a letter of intent by Sept. 30 to qualify for the offer, although the firm expects to make transitions of advisers into December. GunnAllen Financial Inc. of Tampa, Fla.,...

The Route is Rocky, but the Rewards Are Rich

00:00 01 October in In the News by rafferty

by Julie Bennets and featured in The Wall Street Journal Financial & Financial Advisor Careers Section October, 2007: Marlene Mazur, of Colts neck, N.J., started her financial career 30 years ago, right after she graduated from high school. She passed the Series 6 and Series 22 exams required by the national Association of Securities Dealers to sell financial products and started selling mutual funds to her friends’ parents. Today, Ms. Mazur is a broker/dealer representative, affiliated with WRP Investments in Youngstown, OH, doing financial and retirement planning and tax work for a long list of clients.  She won’t reveal how well she’s doing, but says that she and her husband own a 15-acre horse farm and an office building in Colts Neck. In a few years, their son Ken, 22, will take over her business,...