Top Reasons Why Financial Advisors Change Broker Dealers, it may surprise you…
Financial Advisors were primarily concerned with better product offerings, state of the art technology, support services and payout plans from their broker dealers. Today, the “playing field” has significantly changed and Financial Advisors are primarily concerned about Broker Dealers that value their contributions and individual needs. They want to partner with a forward “thinking” management team who understands the unique challenges of today’s marketplace. They are seeking Broker Dealers who are willing to “think outside of the box” in order to grow sales and revenue & broker dealer.
They often create unnecessary delays or impossible “road blocks” which adversely impact sales and revenue. Some departments have become known for a dictorial treatment of their advisors regarding documentation requirements and personal audits. Many of today’s respected advisors will only tolerate this treatment so long before they start searching out a new broker dealers firm.
Fees and commissions average 85 to 90%. Many Broker Dealers have high adminstration fees which has become a primary concern with financial advisors. Today many Broker Dealer firms are offering substantially attractive incentives for high-end producers. Some firms are willing to negotiate lower ticket charges depending on the advisors brokerage activity and production yielding a higher net profit for their advisors & independent broker dealer.
Often high-end producers will accept poor service for only so long before they start looking for a new firm. If they are dissatisfield with managements lack of support, poor payouts, intolerant compliance demands, or questionable financial stability combined with a lack of quality service, this usually facilitates their decision to start searching for a Broker Dealer that will respond to their needs and concerns & Independent broker dealer list.
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.
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.
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