In the News

Auld quits NEXT Financial, Joins Rival

00:00 01 August in In the News by rafferty

by Bruce Kelly and featured in Investment News August, 2006: New York - Jeff Auld, who has played a pivotal role in establishing NEXT Financial Group Inc. as one of the nation's fastest-growing independent broker-dealers, is leaving to join rival Berthel Fisher & Company Financial Services Inc. Mr. Auld, who is president of Houston-based NEXT Financial Group, will depart Aug. 31 to become president of Berthel Fisher in Marion, Iowa. Mr. Auld, 48, joined NEXT Financial Group in 2000 and is credited with almost single-handedly driving its growth, largely through his ability to recruit new representatives. His impending departure comes as NEXT Financial Group, like many other independent-contractor broker-dealers, is scrambling to find an executive to lead its recruiting efforts (InvestmentNews, Aug. 7). Gordon D'Angelo, chairman and CEO of NEXT Financial Group Holding Co., will...

GunnAllen Moves to Upgrade Image

00:00 01 July in In the News by rafferty

by Bruce Kelly and featured in Investment News July, 2006: New York - In an effort to pump new life into its growth plan, GunnAllen Financial Inc. plans to launch a recruiting and advertising campaign by fall that focuses on the services it offers to registered representatives and advisers. The moves come amid recent additions to, and revamping of, the Tampa, Fla.-based firm's roster of executives - including hires from key competitors, such as Wachovia Securities LLC of Richmond, Va. "We have great programs now, the depth and breadth of our platform," said David Levine, senior vice president and director of national sales for GunnAllen. "The message, the identity of the firm, needs to be redefined and better communicated." As proof of the firm's added strength, Mr. Levine cited a number of new hires, including...

Recruiting Wars – Freedom and Culture

00:00 01 June in In the News by rafferty

by James J. Green and Ryan G. Murphy and featured in Investment Advisor June, 2006: Greg Sauer of The Primary Group is in that same business. Speaking on a panel addressing the state of recruiting at the Fidelity Executive Forum in Scottsdale, Arizona, in April, Sauer said he had detected some major shifts in rep portability over the past five years. “Pre 9/11,” he said, referring to the reasons reps would change B/Ds, “it was all about the money.” Post-9/11, everyone stayed put, but now, Sauer sees more rep movement due to the perception that service might be better on the other side of the fence. Moreover, “human factors” are more important to reps these days, he argues, and maintaining a good quality of life is a key factor in their...