Articles / Resources

B/Ds in the Year 2010-What Does the Future Hold in Store for Independent b/d’s?

00:00 01 July in Articles Written by Jon Henschen by rafferty

by Jonathan Henschen, CFS and featured in Investment Advisor July, 2007: IN DUSTING OFF our crystal ball, we thought of taking a prophetic approach to what lies ahead for our industry, attempting to answer such vexing questions as: Will equity indexed annuities by declared securities? Will advisors have any say as to their quilt or innocence when clients pursue arbitration? Will Merrill Lynch buy LPL, thereby confirming something advisors already believe, namely, the LPL is the Merrill Lynch of the independent channel? Instead, we decided to focus on a few key trends that have cropped up over the past couple of years that we think will not only continue, but are likely to accelerate through 2010. Technology There has been a growing sameness in the technology broker/dealer firms are offering. For example, most standard technology platforms such...

Indie Reps Rewarded With Equity Participation

00:00 01 June in In the News by rafferty

by Bruce Kelly and featured in Investment News June, 2007: New York - In a bid to stand out among their peers and to be more competitive in the marketplace, an increasing number of small to midsize independent-contractor broker-dealers are offering sophisticated compensation plans, including stock ownership, to their affiliated registered representatives. The firms that have offered sweetened compensation most recently are Investors Capital Corp. of Lynnfield, Mass., and Girard Securities Inc. of San Diego. The two firms reported $76.8 million and $33 million, respectively, in gross revenue last year. They join the ranks of other such firms with sophisticated compensation plans, including American Portfolios Financial Services Inc. of Holbrook, N.Y., Cambridge Investment Research Inc. of Fairfield, Iowa, and NEXT Financial Group Inc. of Houston. Each of those firms has an equity participation plan. And...

LPL Deal Raises Questions

00:00 01 March in In the News by rafferty

by Bruce Kelly and featured in Investment News March, 2007: New York - LPL Financial Services Inc.’s plan to acquire three broker-dealers owned by Pacific Life Insurance Co. came as little surprise to many in the industry, though the deal has raised a few key questions, industry observers and advisers say. Terms of the deal, which was announced March 1, were not disclosed, but numerous broker-dealer executives want to know the price Linsco/Private Ledger Corp. paid for Mutual Service Corp. of West Palm Beach, Fla., Associated Financial Group of Los Angeles and Waterstone Financial Group of Itasca, Ill. Having that information would help them to better understand the market for — and valuations associated with — mergers and acquisitions involving independent-contractor broker-dealers. The second question is whether Linsco, based in San Diego and Boston,...

Ten Steps Towards Creating A Flourishing Recruiting Environment

00:00 01 March in Articles Written by Jon Henschen by rafferty

by Jonathan Henschen, CFS and featured in Broker Dealer Journal March, 2007: When put to the test in your Business Development Plan, the Ten Steps towards Recruiting Efficiency described in this article can help your broker/dealer reap accelerated success. Neglecting some or all of these issues, however, can result in conflict, discontent, and inefficiency among your recruiters and staff, as well as prevent your firm from reaching its full potential. Note: The following insights are a combination of personal experience gained from before I became an independent recruiter, feedback from broker/dealer recruiters I work with every day, as well as from those who, for various reasons, contact me about leaving their current firms. Though we don’t name names, the examples used here are real—the better to illustrate these key issues from a recruiter’s...