Articles / Resources

Inquiring Minds Want to Know About Transition Money

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

by Jonathan Henschen, CFS and featured in Broker Dealer Journal August, 2006: A common question I get from the heads of broker/dealers is: “What do you see broker/dealers offering for transition help?”  I’m going to avoid interjecting too much personal opinion in this area, although I will say that going to a broker/dealer just looking for a forgivable loan is simply the wrong reason. Here’s a breakdown on what trends we see in the independent broker/dealer channel for helping out with transition expenses. Reps are on their own for transfer expenses At one time, if reps wanted to join a firm, they had to cover their own expenses including registration costs, business cards, stationary and transfer fees. Many firms still take that position, but the trend among broker/dealers is evolving to” “We need to...

Broker/Dealer Expenses

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

by Jonathan Henschen, CFS and featured in ProducersWeb July, 2006 We get deluged by questions about fees Advisors are paying, looking for references to what is normal for them to be paying on a particular expense imposed by their broker/dealer. To be certain, there are some firms that are not reasonable on what they charge; approaching ugly on the scale of what is fare to charge an Advisor. We’ve put together a list of common expenses incurred by Advisors by Independent Broker/Dealers as a reference to what is average in our industry and what the trends for these expenses are evolving toward. Errors & Omissions Insurance We’ve all seen a substantial spike up on E&O costs over the last four years. The good news is these costs are finally stabilizing, unless of course, your...

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...