Jun 17, 2011
By Philip Palaveev
With the decline in margins, the ability to offer bonuses will decline. In other words, a b/d cannot systematically use bonuses to grow...
Jun 15, 2011
By Diana Britton
Independent broker/dealer Alternative Wealth Strategies in Cherry Hill, N.J., has gone belly up, according to Financial Industry Regulatory Authority documents...
Jun 14, 2011
By Charles Paikert
Wealth managers with the right resume—and personality—should find a seller’s market when it comes to filling chief executive and investment officer positions, say search firm executives specializing in the field. But there’s a catch: single-family offices are peculiar places, and prospective employees need to know what they’re getting into...
Jun 13, 2011
By Susan Konig
A few years ago, when Chuck Goldman sold his highly-successful automotive plastics business based in Leominster, Mass., for tens of millions of dollars, Rob Cotter— producing manager of a Wells Fargo Advisors branch in nearby Worcester—wasted no time going after him. But it wasn’t Goldman’s account he wanted; he already had that. ...
Jun 7, 2011
By Diana Britton
Independent broker/dealer network Advisor Group is talking to a number of small and mid-sized broker/dealers that the company would consider purchasing, said Larry Roth, president and CEO of Advisor Group, which includes IBDs FSC Securities Corp., Royal Alliance Associates and SagePoint Financial...
Jun 6, 2011
By John Aidan Byrne
Another wave of financial advisor defections could be just around the corner, says an Aite Group report. Switching for big signing bonuses spiked during the recent financial crisis when Wall Street’s biggest brokerages merged or were acquired. But it died down a bit after Merrill Lynch and Morgan Stanley offered their financial advisors retention packages....
Jun 6, 2011
By Jerry Gleeson
Financial advisory firms are gearing up to do more hiring in the months to come, according to a recent Fidelity Investments survey. But adding staff this year may be trickier than just posting ads and waiting for the resumes to pour in...
Jun 2, 2011
By Diana Britton
With the breakaway broker debate raging, and smaller independent b/ds imploding all over the place, we launched our first Independent Broker/Dealer Report Card survey...
Jun 1, 2011
By Diana Britton
First Allied Securities, an IBD, has hired Yanni Bousnakis as managing director of investment management and Keith Mistretta as senior vice president of business development...
May 31, 2011
By Mindy Diamond
What you can say before you leave is very limited but here are a few guidelines...
May 27, 2011
By Diana Britton
Independent broker/dealer Financial Advisers of America has reorganized its senior management to support the firm’s growth and allow senior executives to focus on recruiting advisors...
May 27, 2011
By Anne Field
If you run your own practice, you may not have had a real vacation in a long time...
May 23, 2011
By Jodie Papike
The payout numbers many broker/dealers advertise can be misleading. The firms often scrape quite a bit off of that number before they hand you your take-home check...
May 17, 2011
By Diana Britton
Advisors are often recruited to broker/dealers based on promises that the firm later fails to deliver on, according to a recent Registered Rep. reader poll.
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May 12, 2011
By Mindy Diamond
As retention agreements begin to wind down, some advisors are becoming more willing to consider options for switching firms...
May 10, 2011
By Susan Konig
Wells Fargo Advisors’ is looking for recruits in out of the way places. In April, Kent Christian, president of Wells Fargo Advisors’ financial services group, told a Securities Industry and Financial Markets Association conference that the aging FA population is creating a shortage that will seriously impact the industry and investors, and which he believes “cannot” be solved by recruiting from rival firms...
May 4, 2011
By Kristen French
Edward Jones is changing tack a little bit. Long known as a firm that trains greenhorns and career changers from the ground up and then holds onto them (mostly) for life, the firm is getting serious about recruiting experienced financial advisors. ...
May 2, 2011
By Diana Britton
Registered Rep.’s top-rated 2010 independent broker/dealer advisor Ron Carson has announced plans to leave LPL Financial (Nasdaq: LPLA) to become an independent registered investment advisor in July and start his own broker/dealer later this year...
May 1, 2011
By Diana Britton
Scott A. Tilley shares something in common with the 150 disabled children playing baseball this spring in High Point's Miracle League. “The first thing you notice about Scott is the big smile on his face,” says Don Scarborough, vice president of community relations at High Point University. Tilley sees that same happiness in the kids in the High Point Miracle League, which he was instrumental in getting up and running. Read more...
May 1, 2011
By Charles Paikert
John Vita's twin interests in the financial services business and in helping those less fortunate than himself began at an early age. Vita's father Robert was a Merrill Lynch broker for 40 years, and Vita recalls that as a boy, he loved going to his father's office and playing with the ticker and the Quotron machine. He was also involved in community service projects as an active member of the local Kiwanis Club, a global aid organization that helps children. Read more...
May 1, 2011
By Diana Britton
UBS Wealth Management Americas has added Michael Russell, Sean Russell and Philip Giammarino to its Port Jefferson, N.Y., office...
May 1, 2011
By Kristen French
Financial advisor George Cook displays a pair of steel cuffs once worn by a child slave on his office coffee table. He knows what effect they can have on those who see them for the first time. Cook first saw cuffs like these in the office of a former colleague. When he understood how they had been used, he was aghast, then enraged, and developed a powerful desire to help. Read more...
May 1, 2011
By Diana Britton
Patricia Estopinal was fortunate enough to grow up in a middle-class suburban home in New Jersey. But after going to school and settling down in Sacramento, the sixth largest city in California, she became more aware of the problems of the urban poor, and she wanted to give back. Read more...
May 1, 2011
Jered Haag, who shot many of our Advisors with Heart for this month's issue, is a New York native who has been photographing for Registered Rep. since...
May 1, 2011
By David A. Geracioti, Editor-In-Chief
The diaspora out of the wirehouses and into IBDs or RIAs is a much-talked about phenomenon. Is it really happening?...
May 1, 2011
By Jerry Gleeson
Financial advisor Steven Tonkinson uses his quick intelligence to solve investment problems and build portfolios for clients. But outside of the office, he uses his hands and his instincts to help relieve crises in places that have been struck by environmental disasters. Read more...
May 1, 2011
By Jerry Gleeson
If you are not talking to your client about retirement planning, someone else probably is — and stands a good chance of garnering those assets...
May 1, 2011
By Charles Paikert
Plowing the driveways of elderly neighbors after a snowstorm; volunteering at a homeless shelter; serving people food; mentoring a recovering drug addict; coaching a youth basketball league; hosting a men's support group; cutting up and clearing fallen trees in Mississippi after Hurricane Katrina — Joe Callahan, principal of Cincinnati-based Callahan & Associates, calls them his “angel activities.” Read more...
May 1, 2011
By Jerry Gleeson
Kathleen A. Muldoon is passionate about The Parkland Health & Hospital System in Dallas. It's a hospital that is known in some distant parts of the world its trauma specialists have trained doctors at every hospital in Israel, for example. But it's the hospital's local reputation that Muldoon cares about. Read more...
May 1, 2011
By Diana Britton
Growing up in Jonesboro, Ark., David A. Pickler was a voracious reader. He was especially taken with the biographies of our founding fathers John Adams, Thomas Jefferson and Ben Franklin. What he read about their lives gave him a deep appreciation for community involvement, citizenship and especially education, he says. Every time you touch the life of a child, you touch eternity, Pickler says. Read more...
May 1, 2011
By Jerry Gleeson
In 1993, in his mid-30s and with a growing advisory practice, John P. Hyland began looking for a local non-profit toward which he could devote some time. He chose the New Jersey chapter of the Leukemia & Lymphoma Society, a cause that was dear to him at the time because a beloved aunt had died from AML, a form of blood cancer. Read more...
May 1, 2011
By Kristen French
Financial advisor David Rae started riding in the AIDS Life/Cycle race just four years ago, and he has since gotten heavily involved in recruiting and fund-raising for the event. The seven-day race, which raised $11 million last year for Los Angeles-area HIV and AIDS support, takes cyclists from San Francisco to Los Angeles along a 545-mile scenic coastal route in early June. Read more...
Apr 28, 2011
By Diana Britton
Ameriprise needs to find a buyer for Securities America in a hurry. Many advisors, including large producers, are likely to leave now that Ameriprise's intention to sell has been made known, sources told Registered Rep. The IBD will probably be sold at a discounted price because of the risks involved, they said. ...
Apr 27, 2011
By Kristen French
The Investment Management Consultants Association announced Wednesday that its popular CIMA certification is now accredited by the American National Standards Institute (ANSI), making it the first of the major wealth management designations to meet international ISO standards. The group has been working towards getting the accreditation for four years. IMCA expects that the CIMA certification will become the industry standard for all those who call themselves investment managers when all of the regulatory reforms now in the works fall into place. ...
Apr 27, 2011
By Diana Britton
Have you ever been recruited to a broker/dealer based on certain representations, then found that the firm couldn’t follow through on its promises?...
Scott A. Tilley: Pitching In
John Vita: Champion for Children
George Cook: A Voice for the Voiceless
Patricia Estopinal: Inner City Ally
Steven Tonkinson: Hands On
Joe Callahan: Citizen Angel
Kathleen A. Muldoon: Hospital Advocate
David A. Pickler: The Children's Advocate
John P. Hyland: A Personal Stake
David Rae: Racing Against AIDS
