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In the News

Advisors Cheer Overhaul at Ameriprise

00:00 01 May in In the News by rafferty

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

New York – Turning another page on its history, Ameriprise Financial Inc. is dramatically simplifying the payout grid for its brokers and advisers, essentially doing away with a complicated system that stressed a number of sometimes movable parts.

Gone is the payout grid with as many as five components, some of which could vary, including the number of financial plans an adviser wrote each year or the growth of advisers’ assets. Now, the firm’s 7,441 independent contractor registered representatives who run franchises have two components to their pay: assets under management and insurance, and gross dealer concession.

The changes bring Ameriprise more into line with the rest of the brokerage industry,

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Lincoln Looks to Bolster National Recruiting

00:00 01 April in In the News by rafferty

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

New York – After years of little or no national recruiting presence, Lincoln Financial Advisors Corp. has gone outside the firm to bolster its recruiting staff.

Last Wednesday, Chris Flint, who had been senior vice president for branch office development with Securities America Inc. of Omaha, Neb., joined Lincoln of Fort Wayne, Ind.

Mr. Flint is senior vice president, head of producer recruitment, at Lincoln. Like the other brokerage executives at the firm, he is based in Philadelphia. Lincoln’s addition of Mr. Flint, a 10-year veteran at Securities America who rose through the ranks, clearly is a step in a different direction, industry observers said. In fact, the move caught some in the industry off guard.

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Independent Broker/Dealers – Top 25 Indie Firms Hit $9.16B in Revenue

00:00 01 April in In the News by rafferty

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

New York – The top 25 independent-contractor broker-dealers continued their growth last year and hit $9.16 billion in revenue. The pace, however, was off from that of 2004. The top 25 firms saw gross revenue increase 18.8% last year, down from an increase of 21% in 2004, according to InvestmentNews’ annual survey of broker-dealer firms.

Leading the way was LPL Financial Services, the industry leader as measured by the
number of affiliated registered representatives and gross revenue.

LPL, whose broker-dealer is Linsco/Private Ledger Corp. of Boston and San Diego, recorded $1.39 billion in gross revenue last year, an increase of 21.9% over that of
2004. The firm had 6,454 affiliated registered reps at the end of last year.

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