Selling Broker Dealers and Books of Business Part – 3

Tags

Broker dealer, Broker dealer search, Broker dealers

Financial Advisor Placement Services is the Premier Placement firm in our industry!

Financial Advisor Placement Services was founded in 2009 by Shawn Smith to meet the needs of the financial advisor who is considering a move to an Independent Broker Dealer.  We work as the broker’s “agent” to help the advisor find the firm to meet their professional requirements in order to best serve  their clients.   Financial Advisor Placement Services will sift through the many National, Regional and Independent broker dealers, and RIA firms, and help the advisor to answer the questions which accompany a firm change.  We have developed many relationships with the decision makers at the firms we represent.

We will help you select the best Broker-Dealer for your practice by identifying:  the appropriate size, culture, product set, clearing platform, technology and back office support for your practice.  We will then negotiate the best deal possible for you, as we have leverage with the firms that we represent.

Our sole focus is on placing financial advisors with a new Broker-Dealer or with RIA firms.  We do not get involved with recruiting people to other industries or positions, like many of our competitors.  We feel that the function of providing financial advice is very important, so we pride ourselves in exclusively serving this market segment.   We will give you the personal and professional attention that you need in a confidential manner.

We have also sell broker dealers, and financial practices.  Advisors wishing to either retire or leave the business contact us to help them sell their practice.  We have a vast broker dealer network to sell into, and we use our close contacts to bring buyers “to the table”.

Financial Advisors who want to change firms, usually don’t have the background, knowledge, or time to have numerous discussions with many broker dealers.  Your decision to find your next broker dealer is an important one. You will want your next broker dealer to fit your practice, and that’s where we add value-in sorting through all of the firms and identifying the ones to fit your needs and personality.

We work closely with many broker dealers, where we know the key decision makers well.  We will familiarize you with these firms so that you can understand their culture, products, platforms, and introduce you to their key executives.  We will act as your “agent” to negotiate the best deal possible.

No matter how much or type of business you do, we want to work for you!  Many of our competitors only focus on the large producers, we want to work with financial advisors of all backgrounds, product mixes and production levels.

Broker Dealer or RIA?

We work with several Registered Investment Advisors where you can join their firms, if you want to go that route.  You can either “plug into” and existing RIA or we also work with consultants who will help you start your own.

Domestic or International Broker Dealers:We represent broker dealers who work with both domestic as well as international clients.  We have placed financial advisors who have financial practices outside of the United States.

Small, Mid or Large Broker Dealers:

We represent small and mid-sized Independent broker dealers as well as larger national firms and also work with many firms that offer high payouts with low cost.  We represent boutique firms that specialize in certain product sets.  Clearing firms include: Pershing, National Financial, First Clearing, Raymond James,  RBC, Wedbush, Southwest, Sterne Agee, TD Ameritrade, Schwab, and Core.  We also work with some regional and national firms which are self-clearing such as Linsco Private Ledger, and Janney Montgomery Scott.

For more details on our products and services, please feel free to visit us at Broker dealer, Broker dealers & Broker dealer search

Selling Broker Dealers and Books of Business Part – 2

Tags

Changing broker dealers, Independent broker dealer list, Independent broker dealer payouts

We will find you the best broker dealer that matches your needs.  Financial Advisor Placement Services helps financial advisors sift through all of the options and questions involved in switching firms.  We are experts in the broker dealer market.  The people at Financial Advisor Placement Services have been working with and developing relationships with independent, regional and national broker dealers since 2007.  We understand the clearing platforms and product offerings and understand the firm’s philosophy,  so that we find the best broker dealer to suit your needs.

Our initial conversation will have one goal:  to learn about your practice, your clients, and your requirements in a new broker dealer.  We will start with our list of over 70 quality broker dealers.  We will then create a short list of broker dealers to recommend for your consideration.  Based on your initial feedback, we will then have initial, confidential conversations with these firms to see if there may be a good fit.  Then next step is to arrange phone conversations with these broker dealers.  We then narrow the list down to a hand full of firms and set up face to face meetings either at the home office or near the candidate’s location, whatever is most convenient for the candidate.  With the firms that are of most interest, we will work with the firms to get competitive offers together and present them to the candidate.

We will work with you every step of the way as your  “agent” to work through the firm information, schedule calls and meetings, and give you advice on which offers may be more attractive.  Whenever possible we would like to attend the meetings with you so that we can represent you as best as possible.  We will do a “pros and cons” analysis or help you spreadsheet the value that each firm can bring to  your practice.

Once the decision is made on which firm to go with, we get you engaged with that firm’s transition team, to ensure a smooth transition.  Our goal is to make this transition as painless as possible.  In some cases, the broker dealer will place people in your office to assist you in moving your client accounts.

Small Broker Dealers Tarnished by Private Placements

There has been much noise around independent broker dealers (IBDs).  The Small Independent Broker Dealers (SIBDs), who have less than 500 advisors, have received much of the negative press.  Some SIBDs shut down in 2011 and 2012 resulting from the IBDs, who sold private placements, REITs, and TICs that had gone south.   Medical Capital, Provident Royalties, and DBSI, Inc. created sanctions and fines causing about 50 IBDs to go out of business are reported by the Investment News. This has caused financial advisors to become especially wary of all of the IBDs, especially the SIBDs, as the public has “thrown the baby out with the bathwater.”  We recently spoke to a team of advisors who decided to put their move to an independent broker dealer on hold, due to the recent “stability “concerns they had heard about smaller broker dealers.

The Truth behind the Numbers

The decrease in number of IBDs follows suit with the decrease in the number of Financial Advisors.  There were 79,802 independent financial advisors in 2011, down almost 14% from 92,727 in 2010[1].   If you count dually registered advisors then the decrease is only 11% from 2010 to 2011. This compares to all financial advisors decreased from 323,566 to 316,109, a 2% decrease.[2]  The independent financial advisors rate of decrease is much higher than those of all advisors.  The independent advisors who were lower producers left the business as a result of the 2008 meltdown, or retirement, while others may have gone RIA, or possibly into the bank channel.  The pace of the advisors leaving the wirehouses has also decreased since 2008 due to recruiting and retention bonuses

For more details on our products and services, please feel free to visit us at Changing broker dealers, Independent broker dealer list & Independent broker dealer payouts

Selling Broker Dealers and Books of Business Part – 1

Tags

Independent broker dealer, Independent broker dealer firms, Independent broker dealers

Since we have been in business, we have been getting calls from advisors who want to either buy or sell a book of business.  With the aging of today’s financial advisor, the average age of the advisor is 58 years old.  In this aging population, it only makes sense that some advisors will want to retire.  Seeing this demand, we have accomodated these requests and have begun to help advisors sell their books and we have also helped smaller broker dealers sell their firms.

With a vast network of qualified buyers, we are able to “create a market” for the financial advisor and company owner to market their assets.  Unlike other competitor firms, that simply send “blast emails” out to a wide area of financial advisors to get buyers, we use our personal relationships to provide qualfied buyers in a confidential manner with broker dealers who will financially stand behind the buyer.  We always have the buyer and seller sign a non-disclosure agreement so that everything is kept confidential.  We find that this is the best way to do business.

Financial Advisor Placement Services (FAPS) places only Financial Advisors.  While other competitor firms work with other financial professionals, we feel that our sole focus makes us the best in the  industry.   While other placement firms will “hand off” the advisor to another junior recruiter, everyone who does business with FAPS with work with Shawn Smith, our Founder.  It is because of this personal attention, and expertise in this field, that advisors like doing business with us.

Since we work with over 70 select broker dealers, we have a vast network of partner firms, which allow us to place advisors and brokers throughout the United States.  We speak to advisors every day, from every state in the country.  While this gives us the opportunity to introduce local firms to you.  With today’s technology, you can join any broker dealer no matter how far away they are. In 2014, we placed more advisors in CA than we did in our home state of MA!

A Great Success Story

The advisors we work with love our process, and it works.  We just received a call from a lady advisor in Oklahoma who we placed a y4ear ago.  She just called to thank us for a job well done.  She had a registration challenge and a year ago, she was about to exit the business because she was so discouraged in her search.  Once we spoke to her, we were able to find her several options.  She decided to join a firm in FL and she broke away from her independent group and set up her own practice for the first time ever.  In the beginning there were many challenges setting up her own office, setting up a high profile website, as well as moving her book of business.  In the end, she called us to say that she was elated that she set up her own practice in 201 and that it was her best year as an advisor ever! And she has been in the business 29 years.  It is stories like these that make us excited to help advisors succeed every day!

For more details on our products and services, please feel free to visit us at Independent broker dealer, Independent broker dealers & Independent broker dealer firms

Independent Broker Dealer Firms Part – II

Tags

Changing broker dealers, Independent broker dealer list, Independent broker dealer payouts

Financial Advisor Placement Services is the premier financial advisor placement firm, that specializes in representing only financial advisors.  There is no cost to the Advisor!

The reason why advisors go with us is because of our industry relationships, knowledge and high touch professional service.  Most of our advisors thank us for helping them find a new broker dealer, and we tell them that we are just doing our job, which is helping advisors succeed!

Many Wall Street brokerages and independent broker dealers are undergoing tremendous change.  The wirehouses continue to cut payouts and increase account minimums, while multiple mergers are consolidating the independent broker dealer landscape.  The DOL’s Fiduciary Standard has created uneasiness in the industry.   Many of the Insurance owned broker dealers are increasing production requirements and forcing proprietary sales.  FINRA has become more over-bearing with increased rules and regulations.   Improved technology and wealth management platforms are improving the independent broker-dealer model.

Financial Advisors who want to change firms, usually don’t have the background, knowledge, or time to have numerous discussions with many broker dealers.  Your decision to find your next broker dealer is an important one. You will want your next broker dealer to fit your practice, and that’s where we add value-in sorting through all of the firms and identifying the ones to fit your needs and personality.

We work closely with many broker dealers, where we know the key decision makers well.  We will familiarize you with these firms so that you can understand their culture, products, platforms, and introduce you to their key executives.  We will act as your “agent” to negotiate the best deal possible.

No matter how much or type of business you do, we want to work for you!  Many of our competitors only focus on the large producers, we want to work with financial advisors of all backgrounds, product mixes and production levels.

Broker Dealer or RIA?

We work with several Registered Investment Advisors where you can join their firms, if you want to go that route.  You can either “plug into” and existing RIA or we also work with consultants who will help you start your own.

Domestic or International Broker Dealers:We represent broker dealers who work with both domestic as well as international clients.  We have placed financial advisors who have financial practices outside of the United States.

Small, Mid or Large Broker Dealers:

We represent small and mid-sized Independent broker dealers as well as larger national firms and also work with many firms that offer high payouts with low cost.  We represent boutique firms that specialize in certain product sets.  Clearing firms include: Pershing, National Financial, First Clearing, Raymond James,  RBC, Wedbush, Southwest, Sterne Agee, TD Ameritrade, Schwab, and Core.  We also work with some regional and national firms which are self-clearing such as Linsco Private Ledger, and Janney Montgomery Scott.

Whether you are looking for an independent,  wirehouse, regional broker dealer, a selective broker dealer with high production requirements, a small broker dealer with low production requirements or the independent broker dealer with the highest payout or lowest ticket charges, or high transition compensation, we can help you find your new home.  After you tell us what is important to you and your clients, we will do the “screens” to fine you the best fit possible.

We represent both full service broker dealers as well as specialist firms that focus on certain product sets.    Some advisors are concerned with firms with high costs and production requirements.  We do business with firms that satisfy all of these problems, and have worked with them for years to “grow” their firms.   We have leverage with the firms that we represent, so we can get you the best offer available.   Let us do the due diligence and negotiations for you.

DOL Friendly Broker Dealers:

We represent broker dealers who will go out of their way to support the financial advisor and to acccomodate both commission and fee-based products within retirement accounts.  They understand that the advisor needs extra support during the chaos caused by the new DOL standards.

OSJ Producer Groups:

We are successful at placing OSJ Producer Groups, in order to find the best packages available in a competitive environment.  Confidentiality is crucial during this process.

Broker Dealer Sales & Financial Practice Sales:

We act as consultants to sell broker dealers, or advisor financial practices.   We have a vast network to market private sales.  We work with broker dealers who want to sell their firms or simply outsource their back office functions.

The firms that we represent pay our fee, so contact us for a confidential conversation.

We look forward to your call!

For more details on our products and services, please feel free to visit us at Changing broker dealers, Independent broker dealer list & Independent broker dealer payouts

Independent Broker Dealer Firms Part – I

Tags

Independent broker dealer, Independent broker dealer firms, Independent broker dealers

Financial Advisor Placement Services (FAPS) places only Financial Advisors.  While other competitor firms work with other financial professionals, we feel that our sole focus makes us the best in the  industry.   While other placement firms will “hand off” the advisor to another junior recruiter, everyone who does business with FAPS with work with Shawn Smith, our Founder.  It is because of this personal attention, and expertise in this field, that advisors like doing business with us.

Since we work with over 70 select broker dealers, we have a vast network of partner firms, which allow us to place advisors and brokers throughout the United States.  We speak to advisors every day, from every state in the country.  While this gives us the opportunity to introduce local firms to you.  With today’s technology, you can join any broker dealer no matter how far away they are. In 2014, we placed more advisors in CA than we did in our home state of MA!

A Great Success Story

The advisors we work with love our process, and it works.  We just received a call from a lady advisor in Oklahoma who we placed a y4ear ago.  She just called to thank us for a job well done.  She had a registration challenge and a year ago, she was about to exit the business because she was so discouraged in her search.  Once we spoke to her, we were able to find her several options.  She decided to join a firm in FL and she broke away from her independent group and set up her own practice for the first time ever.  In the beginning there were many challenges setting up her own office, setting up a high profile website, as well as moving her book of business.  In the end, she called us to say that she was elated that she set up her own practice in 201 and that it was her best year as an advisor ever! And she has been in the business 29 years.  It is stories like these that make us excited to help advisors succeed every day!Since we have been in business, we have been getting calls from advisors who want to either buy or sell a book of business.  With the aging of today’s financial advisor, the average age of the advisor is 58 years old.  In this aging population, it only makes sense that some advisors will want to retire.

Seeing this demand, we have accomodated these requests and have begun to help advisors sell their books and we have also helped smaller broker dealers sell their firms.

With a vast network of qualified buyers, we are able to “create a market” for the financial advisor and company owner to market their assets.  Unlike other competitor firms, that simply send “blast emails” out to a wide area of financial advisors to get buyers, we use our personal relationships to provide qualfied buyers in a confidential manner with broker dealers who will financially stand behind the buyer.  We always have the buyer and seller sign a non-disclosure agreement so that everything is kept confidential.  We find that this is the best way to do business.

For more details on our products and services, please feel free to visit us at Independent broker dealer, Independent broker dealers & Independent broker dealer firms

Advisors Changing Broker Dealers Part – 2

Tags

Independent broker dealer, Independent broker dealer payouts, Independent broker dealers

Financial Advisors who want to change firms, usually don’t have the background, knowledge, or time to have numerous discussions with many broker dealers.  Your decision to find your next broker dealer is an important one. You will want your next broker dealer to fit your practice, and that’s where we add value-in sorting through all of the firms and identifying the ones to fit your needs and personality.

We work closely with many broker dealers, where we know the key decision makers well.  We will familiarize you with these firms so that you can understand their culture, products, platforms, and introduce you to their key executives.  We will act as your “agent” to negotiate the best deal possible.

No matter how much or type of business you do, we want to work for you!  Many of our competitors only focus on the large producers, we want to work with financial advisors of all backgrounds, product mixes and production levels.

Broker Dealer or RIA?

We work with several Registered Investment Advisors where you can join their firms, if you want to go that route.  You can either “plug into” and existing RIA or we also work with consultants who will help you start your own.

Domestic or International Broker Dealers:We represent broker dealers who work with both domestic as well as international clients.  We have placed financial advisors who have financial practices outside of the United States.

Small, Mid or Large Broker Dealers:

We represent small and mid-sized Independent broker dealers as well as larger national firms and also work with many firms that offer high payouts with low cost.  We represent boutique firms that specialize in certain product sets.  Clearing firms include: Pershing, National Financial, First Clearing, Raymond James,  RBC, Wedbush, Southwest, Sterne Agee, TD Ameritrade, Schwab, and Core.  We also work with some regional and national firms which are self-clearing such as Linsco Private Ledger, and Janney Montgomery Scott.

Whether you are looking for an independent,  wirehouse, regional broker dealer, a selective broker dealer with high production requirements, a small broker dealer with low production requirements or the independent broker dealer with the highest payout or lowest ticket charges, or high transition compensation, we can help you find your new home.  After you tell us what is important to you and your clients, we will do the “screens” to fine you the best fit possible.

We represent both full service broker dealers as well as specialist firms that focus on certain product sets.    Some advisors are concerned with firms with high costs and production requirements.  We do business with firms that satisfy all of these problems, and have worked with them for years to “grow” their firms.   We have leverage with the firms that we represent, so we can get you the best offer available.   Let us do the due diligence and negotiations for you.

DOL Friendly Broker Dealers:

We represent broker dealers who will go out of their way to support the financial advisor and to acccomodate both commission and fee-based products within retirement accounts.  They understand that the advisor needs extra support during the chaos caused by the new DOL standards.

OSJ Producer Groups:

We are successful at placing OSJ Producer Groups, in order to find the best packages available in a competitive environment.  Confidentiality is crucial during this process.

Broker Dealer Sales & Financial Practice Sales:

We act as consultants to sell broker dealers, or advisor financial practices.   We have a vast network to market private sales.  We work with broker dealers who want to sell their firms or simply outsource their back office functions.

The firms that we represent pay our fee, so contact us for a confidential conversation.

We look forward to your call!

For more details on our products and services, please feel free to visit us at Independent broker dealer, Independent broker dealers & Independent broker dealer payouts

Advisors Changing Broker Dealers Part – 1

Tags

Changing broker dealers, Independent broker dealer firms, Independent broker dealer list

Shawn K. Smith is the Principal of Financial Advisor Placement Services and  founded it in 2009.  Shawn has 23 years of investment industry experience and has worked directly with Financial Advisors during this time.  Prior to founding Financial Advisor Placement Services, he worked at Ameriprise Financial as the Recruiting Manager for the Northeast.  Before Ameriprise, Shawn worked as a Vice President of Sales at Sun Life Financial, in Wellesley, MA.  Shawn was Assistant Vice President of Sales for Pioneer Investments in Boston and a Wholesaler at North American Funds in Boston in the late 1990’s.  Shawn holds an MBA, from Bentley University and a BA in Economics from Princeton University.

Financial Advisors who want to change firms, usually don’t have the background, knowledge, or time to have numerous discussions with many broker dealers.  Your decision to find your next broker dealer is an important one. You will want your next broker dealer to fit your practice, and that’s where we add value-in sorting through all of the firms and identifying the ones to fit your needs and personality.

We are always looking of new talent to add to our team.  If you are interested in applying for a position are recruiter  please submit your resume to:  sales@financialadvisorplacementservices.com    All positions are 1099 contractor opportunities.

Job Description

• Responsible for all phases of recruiting independent and retail financial advisors (business development, client
• service,  research, search process, qualification of candidates, closing, etc.)
• Generation and maintenance of a pipeline of business through establishing strong relationships with financial advisors
• Performing market research to focus business development efforts on targeted companies/industries/geographies
• Identification of qualified and interested candidates through extensive research, direct recruiting, and referrals
• Contact all appropriate candidates for a particular search by phone and/or e-mail to gauge qualifications and interest
• Build and manage database of candidates and own personal network

Job requirements

Qualifications of Recruiter:

• High school graduate or equivalent required. BA/BS preferred.
• Excellent communication and time management skills
• Experience with direct recruiting and network/database building
• Ability to interact effectively with senior-level executives as clients and candidates
• Broad range of advanced business experience crossing various industries
• 3+ years of executive recruiting experience or financial services experience
• Extensive background in business development and relationship building
• Knowledge and ability to relate to financial advisor candidates at the executive level
• Should be highly organized and committed to process-driven environment
• Should have entrepreneurial drive and be independent and self-motivated
• Must possess highest degree of integrity and ethics

For more details on our products and services, please feel free to visit us at Independent broker dealer firms, Changing broker dealers & Independent broker dealer list

Financial Advisor Placement Services Part – 3

Tags

Changing broker dealers, Independent broker dealer list, Independent broker dealer payouts

Independent Broker Dealers:  A Sound Choice for the Financial Advisor

By:  Shawn K. Smith, MBA, Principal, Financial Advisor Placement Services

Small Broker Dealers Tarnished by Private Placements

There has been much noise around independent broker dealers (IBDs).  The Small Independent Broker Dealers (SIBDs), who have less than 500 advisors, have received much of the negative press.  Some SIBDs shut down in 2011 and 2012 resulting from the IBDs, who sold private placements, REITs, and TICs that had gone south.   Medical Capital, Provident Royalties, and DBSI, Inc. created sanctions and fines causing about 50 IBDs to go out of business are reported by the Investment News. This has caused financial advisors to become especially wary of all of the IBDs, especially the SIBDs, as the public has “thrown the baby out with the bathwater.”  We recently spoke to a team of advisors who decided to put their move to an independent broker dealer on hold, due to the recent “stability “concerns they had heard about smaller broker dealers.

The Truth behind the Numbers

The decrease in number of IBDs follows suit with the decrease in the number of Financial Advisors.  There were 79,802 independent financial advisors in 2011, down almost 14% from 92,727 in 2010[1].   If you count dually registered advisors then the decrease is only 11% from 2010 to 2011. This compares to all financial advisors decreased from 323,566 to 316,109, a 2% decrease.[2]  The independent financial advisors rate of decrease is much higher than those of all advisors.  The independent advisors who were lower producers left the business as a result of the 2008 meltdown, or retirement, while others may have gone RIA, or possibly into the bank channel.  The pace of the advisors leaving the wirehouses has also decreased since 2008 due to recruiting and retention bonuses.[3]

There are currently 4,380 brokerage firms.[4]  In the first quarter of 2012, 93 broker-dealers closed , compared to 137 firms during the same period in 2011. Only 44 new B-Ds opened during the first quarter of 2012, while 57 broker-dealers started up in the first quarter of 2011.[5] In other words, there was a net decrease of 80 broker dealers in first quarter of 2011 versus a net decrease of 49  broker dealers opened in the first quarter of 2012.  The pace seems to be slowing.   If the IBDs finish 2012 at the same rate of losing a net of 49 broker dealers per quarter in 2012, they will lose 196 broker dealers or 4.5% this year. This is about twice the rate of the number of advisors leaving the business.   It was reported by Investment News that about 50 broker dealers went out of business from the failed alternative investments ie. Provident, Medcap, and DBSI.   This would explain the uptick in failed broker dealers in 2011.

There were also mergers in 2011 involving larger broker dealers, who have over 1000 advisors, that contributed to this decrease.  The major ones were:  Ameriprise Financial sold off Securities America to Ladenburg Thalmann; Wells Fargo sold H.D. Vest Financial Services to Parthenon Capital Partners, Lovell Minnick Partners acquired First Allied from Advanced Equities; Pacific West Securities closed down and moved its reps over to Multi-Financial; and Allied Beacon Partners  absorbed Workman Securities’ reps. This year Cetera Financial acquired Genworth’s broker/dealer,  LPL Financial purchased Fortigent.  In the regional space, Raymond James bought Morgan Keegan[6].

For more details on our products and services, please feel free to visit us at Changing broker dealers, Independent broker dealer list & Independent broker dealer payouts

Financial Advisor Placement Services Part – 2

Tags

Broker dealer search, Independent broker dealer firms, Independent broker dealers

We will find you the best broker dealer that matches your needs.  Financial Advisor Placement Services helps financial advisors sift through all of the options and questions involved in switching firms.  We are experts in the broker dealer market.  The people at Financial Advisor Placement Services have been working with and developing relationships with independent, regional and national broker dealers since 2007.  We understand the clearing platforms and product offerings and understand the firm’s philosophy,  so that we find the best broker dealer to suit your needs.

Our initial conversation will have one goal:  to learn about your practice, your clients, and your requirements in a new broker dealer.  We will start with our list of over 70 quality broker dealers.  We will then create a short list of broker dealers to recommend for your consideration.  Based on your initial feedback, we will then have initial, confidential conversations with these firms to see if there may be a good fit.  Then next step is to arrange phone conversations with these broker dealers.  We then narrow the list down to a hand full of firms and set up face to face meetings either at the home office or near the candidate’s location, whatever is most convenient for the candidate.  With the firms that are of most interest, we will work with the firms to get competitive offers together and present them to the candidate.

We will work with you every step of the way as your  “agent” to work through the firm information, schedule calls and meetings, and give you advice on which offers may be more attractive.  Whenever possible we would like to attend the meetings with you so that we can represent you as best as possible.  We will do a “pros and cons” analysis or help you spreadsheet the value that each firm can bring to  your practice.

Once the decision is made on which firm to go with, we get you engaged with that firm’s transition team, to ensure a smooth transition.  Our goal is to make this transition as painless as possible.  In some cases, the broker dealer will place people in your office to assist you in moving your client accounts.

Going independent has its advantages if you are ready to take the challenge.  Running your own business takes a certain initiative and provides many challanges that will be very rewarding.  These rewards include:

You control your own destinity.

You have the freedom to name and brand your own practice.

You have your own goals and work schedule.  You are no longer under corporate america’s control.

Your payouts increase, from 25%-45% at the wirehouses to 70%-95% at the independent firms.  You have control over what expenses to incur to grow your business.

As a 1099 independent contractor, you enjoy all of the benefits of writing off your expenses against your firm’s revenue to determine the net income.  The federal government are providing some attractive incentives for small businesses in the 2011 tax code, so you can be more competitive.

Building Equity in your practice.  You now own your book and can sell it if you want to retire or get out of the business.  Your practice can be your biggest asset.

Book mobility:  If your Broker-Dealer doesn’t live up to their end of the bargain, or if the needs of your practice no longer match that of the firm you can switch to another firm that is more suitable.

You can decide to keep your firm small or grow it to a larger size by recruiting other advisors and offering additional services.

For more details on our products and services, please feel free to visit us at Independent broker dealers, Independent broker dealer firms & Broker dealer search

Financial Advisor Placement Services Part – 1

Tags

Broker dealer, Broker dealers, Independent broker dealer

Independent Broker Dealer Associations

NAIBD. . . National Association of Independent Broker Dealers

The purpose of the National Association of Independent Broker Dealers is to positively impact rules regulations, and legislation by facilitating a consistent, productive relationship between industry professionals and regulatory organizations and by providing education and member benefits for Broker Dealers. Read more »

AIBD. . . Alliance of Independent Broker Dealers

The Alliance of Independent Broker Dealers (AIBD) is a nonprofit mutual benefit corporation founded in 1980 by a group of independent broker dealers who are dedicated to jointly reviewing investment products. The AIBD and many of its members are are headquartered in Northern California. Read more »

Independent Broker Dealer | Financial Advisor Associations

NAPFA. . . National Association of Personal Financial Advisors

The National Association of Personal Financial Advisors (NAPFA) is the country’s leading professional association of Fee-Only financial advisors who are highly trained professionals, committed to working in the best interests of those they serve. Since 1983, Americans across the country have looked to NAPFA for access to financial professionals who meet the highest membership standards for professional competency, client-focused financial planning, and Fee-Only compensation. Read more »

NAIPFA. . .National Association of Independent Public Finance Advisors

The National Association of Independent Public Finance Advisors (NAIPFA) is a professional organization of independent financial advisory firms located throughout the U.S. specializing in providing financial advice to public agencies related to financing of public projects and issuance of bonds.

NAIPFA member firms must be completely independent of underwriting of municipal securities by banks and securities dealers. Member firms must also be structured such that financial advice is not incidental to any other service. Read more »

LIMRA. . .Life Insurance Management Research Association

The national association, Limra represents over 850 financial services companies in more than 70 countries worldwide whom turn to LIMRA first to help them build their businesses and improve their performance. Their members rely on our 90 years of industry experience, along with resources in Research, Consulting, Assessment, Development, and Compliance and Regulatory Services to: Chart a clear course for the future; Benchmark their competition; Create new products; open new markets; Add distribution channels—independent producer, bancassurance; and worksite; Increase distribution productivity; Assess, train and manage productive sales forces and distribution networks; Meet the challenges of increasing regulation; and Identify and develop the next generation of leaders; plus much more. Read more »

IMCA. . .Investment Management Consultants Association

The Investment Management Consultants Association was established in 1985 to deliver the premier investment consulting and wealth management credentials with world-class educational offerings through membership, conferences, research, and publications. IMCA sets the standards and practices for the investment management consulting profession and provides investment consultants and wealth managers with the credentials and tools required to best serve their clients.

For more details on our products and services, please feel free to visit us at Broker dealer, Broker dealers & Independent broker dealer