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Author: rafferty

Recruiter Confidential: Exploring the Underbelly of Insurance Broker-Dealers

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

by Jonathan Henschen, CFS and featured in advisorbiz.com
November, 2010:

My wife recently bought me a book that I’ve ve wanted to read for several years, Anthony Bourdain’s Kitchen Confidential. If you’re not familiar with Anthony Bourdain, he hosts the Travel Channel show No Reservations and is the former head chef of Les Halles in New York City.

Bourdain’s book looks at the underbelly of the culinary world as he reflects on his colorful, often drug-fueled life working his way up from dishwasher to head chef of a high-end French restaurant.

I’d feel remiss if I didn’t share some key information that Kitchen Confidential delivers in regard to the unknown dangers of eating out. Bourdain would never eat at a Sunday brunch because it is often the last stop before the dumpster for old food.

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The Fight for Talent

00:00 01 November in In the News by rafferty

by Kristen French and featured in Registered Rep
November, 2010:

When the Morgan Stanley Smith Barney joint venture was announced in January of 2009, Scott Mowry and his team, all former Legg Mason advisors, knew they were not sticking around to see how it would turn out. The group had been looking into joining an independent b/d for two years. They’d been through one major takeover already, when Smith Barney scooped up Legg, and had given the culture of a big Wall Street firm a try. It wasn’t the right fit. The hasty, desperate dealmaking, the bad mortgages on both firms’ books, the ugly headlines and the TARP handouts, these things just pushed them over the edge.

So when the MSSB retention pacakges landed on their desks,

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2009 Broker Dealer Winners and Losers: Who’s on Top, Who Missed the Mark

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

by Jonathan Henschen, CFS and featured in Investment Advisor
August, 2010:

For independent broker dealers, 2009 is best described as a recruiting anomaly.The channel’s high hopes to capitalize on the wirehouse fiasco never really materialized– except for a few firms that had a history of attracting wirehouse reps, such as LPL, Raymond James and Wells Fargo Advisors. The primary triggers for independent gains were AIG, ING and former Pacific Life broker dealers purchased by LPL, the firms Mutual Service Corp, Waterstone and Associated Securities.

There were healthy gainers in 2009, and some losses along the way. Here’s my take on some of the winners and losers, and why.

Who Came Out on Top

As I evaluated 2009’s highly successful firms, I set a few standards.

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