Articles / Resources

10 Steps to Bulletproof Your Practice

18:49 05 December in Articles Written by Jon Henschen by rafferty

December 2011 by Jonathan Henschen and featured in  Investment Advisor If you find yourself in arbitration, following these steps can improve your chances of a decision in your favor As a recruiting firm, we deal with compliance issues so frequently that, put in college terms, I majored in recruiting and minored in compliance. The last two years have seen regulators tightening the thumbscrews on broker-dealers and, in turn, advisors. There is little room for error in our industry today—what once might have caused a change of broker-dealer can now put you out of business. Couple this more stringent compliance environment with securities attorneys increasingly expanding their profit centers into our industry and you’re left feeling a bit paranoid. If you ever find yourself needing to go to arbitration, realize only about 12% of advisors end...

Mid-Sized IBD Shifts Into Growth Mode

18:07 05 December in In the News by rafferty

December, 2011 by Diana Britton and featured in Registered Rep Tampa, Fla.-based Calton & Associates, an independent broker/dealer with over $2 billion in assets, has recently ramped up its marketing and recruiting efforts after flying under the radar for the last 25 years. The firm plans to build itself up through mergers and acquisitions with smaller b/ds as well as by bringing on new reps and RIAs.“The regulatory requirements for a $250,000 b/d, like we are, just continue to mount,” said Dwayne Calton, president and CEO of Calton. “If you’re not growing, you’re dying; you just don’t know it yet.” To solidify its plans, Calton recently formed a recruiting and marketing agreement with John Simmers, who co-founded IBD Financial Network Investment Corporation, which eventually became part of the ING Advisors Network, and Scott...

The Decline of Insurance-Owned Broker-Dealers

19:59 03 November in Articles Written by Jon Henschen by rafferty

November, 2011 by Jon Henschen and featured in Investment Advisor Conflicts of interest contributed to insurers’ loosening grip From 1990 up until a few years ago, insurance companies dominated broker-dealer acquisitions in order to gain greater control over insurance product distribution. In case you haven’t noticed, there’s been a steady flow of insurance companies getting out of the broker-dealer business and focusing on their core business: insurance products. Broker-Dealer Insurance Company Owner Sold To Vera Vest Securities Allmerica Life Insurance LPL WS Griffith Securities Phoenix Life Ins. LPL Walnut Street Securities General American Life MetLife Waterstone Securities Pacific Life Insurance LPL Mutual Service Corp. Pacific Life Insurance LPL Associated Securities Pacific Life Insurance LPL Jefferson Pilot Securities Jefferson Pilot Life Ins. Lincoln Financial Multi-Financial ING Lightyear Capital Financial Network ING Lightyear Capital Primevest ING Lightyear Capital Great American Securities Great American Life Ins. Lincoln Investment Planning Brecek & Young Advisors Security Benefit Life Securities America Securities America Ameriprise Landenburg Thalmann   To be certain, private equity firms are now the dominant players in broker-dealer acquisitions,...

Ladenburg Thalmann to Buy Securities America

11:41 26 October in In the News by rafferty

September 28, 2011 by Janet Levaux at Research Magazine Ladenburg Thalmann said that it planned to pay Ameriprise Financial $150 million in cash for Securities America in late August. In addition, the Miami-based broker-dealer says it will pay up to $70 million in 2012 and 2013 in so-called earn-outs, as the firm explained in an SEC report. Plus, Ameriprise continues to be responsible for any costs related to the sale of certain private-placements. News has also been reported about the size of retention bonuses being offered to Securities America’s 1,700 advisors, who are led by Jim Nagengast. (Ladenburg Thalmann says it cannot comment on matters other than what is said in the 8-K filing.) As for the additional $70 million being promised to Ameriprise, this ...