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Author: rafferty

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,

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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,

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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,

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