Articles / Resources

It’s not what your say, but how you say it – and how well you listen!

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

by Jonathan Henschen, CFS and featured in Broker Dealer Journal November, 2006: I’ve been in this business a long time and have had the privilege of knowing a lot of people--broker/dealers and others--involved in recruiting. I’m also routinely bombarded with feedback from Advisors about what they like and dislike in broker/dealers (some of which is very revealing about both parties!). The point is, how broker/dealers communicate with Advisors—on the phone or face-to-face--can cement these relationships for years to come—or derail them before they ever leave the station! We all have quirks and idiosyncrasies when we communicate. These may be family or regional traits, or simply poor speaking and listening habits picked up over the years. But because communicating is of such major importance in our business, its worth paying as much attention to...

Broker/Dealer Options with EIAs

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

by Jonathan Henschen, CFS and featured in ProducersWeb October, 2006: Since January, 2006, I’ve been caught in a whirlwind of activity centered on Equity-Indexed Annuities (EIAs). Advisor after advisor have contacted me looking for a broker/dealer that takes a friendlier approach to this area of their business that at one time, was not of any concern to broker/dealers. The debate swirling around EIAs is confusing and comes with widely varying opinions. One day I’ll be speaking with a broker/dealer who assures me EIA’s are going to be declared securities; the next day another broker/dealer will be just as confident that will never happen. From the broker/dealers’ perspective, I would think the reality of EIA’s becoming securities would make them cringe. If they were declared securities, they run the risk of all the previous...

Pacific Select – No Linsco Merger

00:00 01 September in In the News by rafferty

by Bruce Kelly and featured in Investment News September, 2006: Pacific Select Group, LLC, in an internal email to its network of registered representatives and advisors last Monday, dismissed rumors of a merger with Linsco/Private Ledger Corp. which according to numerous industry insiders, had been courting broker/dealers aggressively. But any deal involving the two may yet happen, one industry recruiter said. ‘On a mission’ Pacific Select’s five-sentence denial in the internal e-mail of an immediate deal with Linsco of Boston and San Diego was a clear indication of the former’s desirability and the latter’s voraciousness, observers say. In the e-mail, Pacific Select conceded that it had been approached about a sale. “LPL is on a mission. It has an insatiable appetite for expansion,” said Larry Papike, president of Cross-Search, a Jamul, Calif., recruiting and placement firm...

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...