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Author: rafferty

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Finding the Right Safety Net

17:36 06 January in Articles Written by Jon Henschen by rafferty

January 2012
by Jonathan Henschen and featured in Investment Advisor

2010 was the year of going nowhere. 2011 was much better. What does 2012 hold for broker-dealer recruiting?

When changing broker-dealer, transition time is typically brief—only one or two months. Yet often, Financial Advisors place the weight of the world on this early part of the relationship, the “honeymoon period.” They are enticed by what appears to be a sweet offer, and end up making a compromise that undoes their reasons for making the change in the first place. That compromise is usually in the form of upfront transition money.

Upfront Transition Money Doesn’t Always Pay Off

Making the right choice when switching to a new broker-dealer is crucial in terms of retaining clients during the transition.

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Insurer-owned indie B-Ds going the way of VHS?

18:04 02 January in In the News by rafferty

December 30, 2011
by Bruce Kelly, Investment News

Once the dominant player in the industry, carriers seeing reps exit; consolidation puts squeeze on

Independent broker-dealers owned by insurance companies, once the dominant players of the industry, will continue to dwindle in size and importance over the coming decade, unable to keep pace with more nimble competitors that invest in, and increase, investment advisory services for reps.

That’s the assessment of some industry executives.

To underscore that point, one leading group of advisers formerly affiliated withTower Square Securities Inc., which is owned by insurance giant MetLife Inc., left several months ago to work with a leading broker-dealer for fee-based registered reps, Cambridge Investment Research Inc.

In total, 87 registered reps — including some support-staff members with securities licenses — who produce more than $10 million in gross revenue,

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Broker-Dealer Pacific West to Close Its Doors

17:11 09 December in In the News by rafferty

December 6, 2011
by Jon Sullivan and featured on AdvisorOne

Multi-Financial Securities signs recruiting agreement for Pacific West reps

In a further sign of economic and legal trouble for the independent broker-dealer space, Pacific West Financial Group, based in Renton, Wash., announced it was discontinuing operations.

The firm also said it has entered into an agreement with Denver-based Multi-Financial Securities Corp., to “bring over select advisors from Pacific West and facilitate a seamless transition experience for the advisors and their clients.” The agreement is subject to FINRA approval.

“We have been evaluating for some time, from an ownership perspective, how much sense it makes to continue,” said Tony Pizelo, Pacific West’s CEO, in an interview. “The business is calling for independent firms to take on greater and greater risk,

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