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Jon Henschen Tag

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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. “AIG values the Advisor Group franchise, and any possible actions taken will...

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, “You want to pass your Series 7, but not score too high.”...

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Stifel CEO wants better results from Sterne Agee’s independent B-D business

16:59 07 November in In the News by rafferty

November 6, 2015 By Bruce Kelly, Investment News Ron Kruszewski says margins were lower in the wealth management group because of Sterne Agee independent advisers Stifel Financial Corp. completed its acquisition of regional brokerage firm Sterne Agee Group Inc. in June, and now Stifel's CEO and co-chairman Ron Kruszewski is looking for better performance out of the independent brokerage side of the business. He made that clear in a conference call with analysts Wednesday to review the firm's third-quarter earnings. When discussing Stifel's global wealth management group, he said: “The margins were lower than last year due to the independent contractors from Sterne Agee, who operate at lower margins than our traditional wealth management business.” Later in the call, in response to an analyst's question, he added: “I think overall, and I think in the...