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DOL Storm Watch

16:49 06 April in In the News by rafferty

April 4, 2016, Financial Advisor Magazine

Author Dan Jamieson’s article opens with, “It wouldn’t be an overstatement to say that independent broker-dealers spent the first two weeks of March in a state of paralysis, awaiting the final outcome of the Department of Labor’s fiduciary rule…”

“I’d have to say, [Cetera has] done a good job of keeping their reps intact,” says recruiter Henschen. He adds that the Advisor Group didn’t have the extended period of bad press Cetera did.

Read the full article from Financial Advisor Magazine.

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ThinkAdvisor

AIG Advisor Group for Sale: Who’s Likely to Buy It?

16:51 18 November in In the News by rafferty

November 17, 2015

By Janet Levaux, ThinkAdvisor

 

With Cetera also up for grabs, who could pounce on the latest IBD to hit the market?

News of the possible sale of yet another large group of independent broker-dealers emerged Tuesday, when AIG disclosed that it had been contacted by parties with interest in its Advisor Group.

“AIG is conducting a strategic review of all its priorities as part of its stated goal of focusing on its core services and reducing the complexity of its business. This effort includes a review of the benefits associated with its ongoing ownership of a network of broker-dealers, and we have received several inquiries regarding its Advisor Group business,” according to an AIG statement shared with ThinkAdvisor on Tuesday.

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Stock Jocks Get Their Knocks at BDs

19:20 12 November in Articles Written by Jon Henschen by rafferty

November 12, 2015

By Jon Henschen, as featured on ThinkAdvisor

 

While reminiscing about the early 1990s and my brokering days at Prudential Securities, I was reminded how much has changed in our industry. Back in the day, my branch manager in Pasadena, California was a wealth of wisdom. I took advantage of his open door policy, frequenting his office with the many questions that come with being a newer representative.

By today’s standards some of what he shared would be shocking, such as, “If a rep doesn’t have a couple of dings on his compliance record he’s probably not aggressive enough,” or “Reps that have cocaine problems are usually substantial producers because they are insecure and driven,” or one of my favorites,

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