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In the News

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IBD Berthel Fisher in Talks to Sell to Cetera

20:18 15 May in In the News by rafferty

May 15, 2020 By Diana Britton, WealthManagement.com Sources say it would make sense for Berthel Fisher to sell, given the low rate environment and its history with high-risk alternatives. Cedar Rapids, Iowa-based independent broker/dealer Berthel Fisher, which has a couple hundred advisors, is in advanced discussions to be acquired by Cetera, according to sources close to the investment banking community. Other b/ds have looked at buying Berthel Fisher, but Cetera is the only one who has submitted a bid so far. The two companies have been in discussions for at least the last month, and any deal would likely be an asset sale, said one investment banking source, who declined to be named. Another source close to the investment banking community said the deal would likely be done soon and would be a semi-distressed transaction....

Financial Advisor IQ a Financial Times Service

Retaining Advisory Talent Amid a Cash Crunch

16:24 15 May in In the News by rafferty

May 15, 2020 By Mrinalini Krishna, Financial Advisor IQ One way to incentivize advisors without actually spending money is offering equity compensation, and this strategy is gaining momentum amid the financially-challenging coronavirus pandemic, according to a consultant. While offering equity compensation and non-voting shares as incentives has been gaining ground over the past few years, consulting firm Succession Resource Group has helped RIAs seal double the number of such incentive deals in the beginning of the second quarter compared to previous years, says CEO David Grau Jr. “We’re seeing more people than ever before leveraging equity compensation as part of the compensation package, whether using [a] phantom equity plan, sharing non-voting stock in the company, as a way to retain their top talents without having to use actual cash that they need and want...

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Advisor Group’s BD Consolidation a ‘Sign of the Times’

14:44 12 May in In the News by rafferty

May 11, 2020 By Janet Levaux, ThinkAdvisor Industry watchers weigh in on the plan to merge three former Ladenburg Thalmann BDs into Securities America. Advisor Group said Monday that three of the five independent broker-dealers it bought recently from Ladenburg Thalmann will be merged into Securities America, the largest BD in this network. Industry watchers reacted to the news with a bit of a shrug, seeing it as part of the consolidation overall across the advisor landscape. Data compiled by the Financial Industry Regulatory Authority puts the latest BD tally at about 3,500, down from roughly 4,700 a decade ago. “This consolidation in the IBD space is another sign of the times,” said Tim Welsh, head of the consultancy Nexus Strategy. “With zero commissions, cash spreads at micro-levels and market lows, it is an incredibly...