In the News

GunnAllen Moves to Upgrade Image

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,

Recruiting Wars – Freedom and Culture

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 business decisions.

Some Indies Starting to Add Group Benefits

by Bruce Kelly and featured in Investment News
May, 2006:

Group benefits have been a missing link in the independent channel, said Jonathan Henschen, president of Henschen & Associates, a recruiting firm in Marine on St. Croix, Minn. This is great news for advisers that medical coverage can now be offered on the broker-dealer level.
New York – In a dramatic shift in the way independent-contractor broker-dealers treat their affiliated registered representatives, some leading firms are beginning to offer benefits such as health insurance.

The firms making the moves, which include Securities America Inc. of Omaha, Neb., and the broker-dealers in the AIG Advisor Group Inc., could reap short-term recruiting advantages by offering benefits while other firms catch up, said one industry recruiter.