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Author: rafferty

Attracting High-End Advisors: Top Seven Recruiting Channels

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

by Jonathan Henschen, CFS and featured in Broker/Dealer Journal
August, 2008:

How firms present themselves is crucial if they want to attract higher-end reps. While a wide variety of recruiting channels are available to broker/dealers—and some firms get by with one or two while others rely on several–the recruiting results achieved by any given firm at any given time are all too often decidedly mixed.
In most cases, we find what’s missing is knowing how to do the right things the right way.

Top Seven Recruiting Channels

Because of that, I’ve narrowed my list of top broker/dealer recruiting channels to these seven:

  • Internal Recruiters
  • Wholesaler Referrals
  • Print Ads and Mailers
  • Internet Search Leads
  • Website Leads
  • Advisor Referrals
  • Third-Party Recruiters

In the following,

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Should I Stay or Should I Go?

00:00 01 July in In the News by rafferty

by Mike Werling and featured in Boomer Market Advisor
July, 2008:

When is it time to break the chains of your broker/dealer realtionship?

What factors play into an advisor’s decision to change broker/dealers? Three of the biggest are service, compliance and culture. Does your current broker/dealer measure up or fall short? The answer could determine your next move.

Ed Grogan had an issue with his broker/dealer-provided Web site one day, and he needed answers. He sent an e-mail detailing his problems to the appropriate person. In short order, he got the answers he needed – plus a little more.

“I got a reply complete with captured screen shots to walk me through it,” says Grogan, president of Summit Financial Group (www.summitplans.com) based in Gig Harbor,

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investment advisor

Power of the Platform

00:00 01 June in In the News by rafferty

by Kara P. Stapleton and featured in Investment Advisor
June, 2008:

LPL will build a custodial offering for its own – and outside – RIAs

Schwab, Fidelity, and Pershing have a new competitor, now that LPL Financial has taken what many consider to be the next logical step as the broker/dealer industry moves to the fee side of the business–becoming a custodian to non-affiliated RIAs as well as dually registered advisors already affiliated with LPL.

On May 5, LPL announced plans to roll out its new custodial venture in late 2008–an integrated custodial platform that will provide independent RIAs and hybrids with access to a range of investment products and services, service staff, and technology. “This is a big change for us and a big change for the industry,”

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