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Registered Rep.
May 14, 2013
Mindy Diamond |
The Economics of Choice In many cases, the economics of the independent model can be exponentially better than those being touted by the wirehouses today.   |
Registered Rep.
March 1, 2006
Mindy Diamond |
Creative Giving Over the past year, top brokers who have switched houses on the Street have gotten some very creative compensation packages. The better the broker the more bells and whistles -- like loans and designer offices -- they are offered. |
Registered Rep.
June 1, 2005
Mindy Diamond |
Don't Be Afraid to Go for It Openness to switching firms is essential if a broker wants to take advantage of an industry that can, and will, provide brokers with opportunities to capitalize on a lifetime of hard work. |
Registered Rep.
December 1, 2004
Mindy Diamond |
Packing the Parachute Success in the brokerage industry can be as much about mindset as anything else, so it comes as little surprise that advisors avoid negative thoughts, such as the potential necessity of a quick exit from their practice. |
Investment Advisor
June 2008
Jonathan Henschen |
Transfer Time For advisors pondering a move from a wirehouse to an independent broker/dealer with visions of large, forgivable transition loans dancing in their heads, it's time for a reality check. |
Registered Rep.
April 1, 2005
Mindy Diamond |
Should I Stay or Should I Go? The process of deciding to change firms often hinges on concrete comparisons. But other less tangible factors come into play, too. Here are four questions that get to the heart of both types of criteria. Any rep considering changing firms should answer these before taking any major action. |
Registered Rep.
April 1, 2008
Mindy Diamond |
Take it or Leave it The market may be ugly, and the economy may be teetering, but the major wirehouse firms aren't cutting back on the dough they're throwing at new recruits. |
Registered Rep.
February 17, 2015
Mindy Diamond |
When You Move, Clients Move Too For an advisor, a prospective new firm and a nice up-front check might be the best thing since sliced bread, but if a sizeable portion of the client base doesn't follow, the move could prove disastrous. |
Registered Rep.
March 1, 2008
Mindy Diamond |
What To Know Before You Switch Here are 10 things every financial advisor should evaluate when deciding where to land his next gig. |
Registered Rep.
May 1, 2005
Mindy Diamond |
What About Your Retirement? Brokers often take a shortsighted view of their careers, and this usually turns an effort to convince them to think about their own retirements into an uphill battle. |
Registered Rep.
January 1, 2005
Mindy Diamond |
A Clean Escape, With an Accomplice Brokers tempted to leap at a lucrative job at another firm are often held back by inertia, but in increasing numbers they are finding the powerful force they need to get moving: hungry branch managers. |
Registered Rep.
January 1, 2003
Nicholas Ferber |
Switching Has Changed During trying times like these, many reps are looking to switch jobs. When pondering a move, no question occupies more time or discussion between brokers, hiring managers and (sometimes) recruiters than the following: "What's in it for me?" |
Registered Rep.
September 1, 2004
Mindy Diamond |
Of Myths and Moving A large number of brokers labor under a group of myths and misconceptions that keep them from managing their careers effectively. |
Registered Rep.
November 1, 2004
Mindy Diamond |
Weighing a Merger's Implications When a securities firm is in the process of merging with another, the knee-jerk response of many reps is to scramble for the exit. Strangely enough, this hasty reaction often is a smart one. |
Registered Rep.
March 1, 2007
Mindy Diamond |
Of Myths and Moving: Revisited The thought of changing firms is a big step for any financial advisor. But don't let cloudy thinking get in your way. Make sure you stop paying heed to old Wall Street myths. Don't fear change. Embrace it. |
Registered Rep.
June 1, 2006
Mindy Diamond |
Valuable Lessons A broker in mid-career doldrums with a desire to teach, coach or mentor should let prospective employers know of this interest. It may provide an enriching experience for a whole class of brokers. |
Registered Rep.
August 1, 2005
Mindy Diamond |
Comparison Shopping Here are several categories of information that can help guide a job seeker's evaluation of financial advisory firms. |
Registered Rep.
August 29, 2014
Mindy Diamond |
Ten Years of Myths and Moving Why advisors need to purge common "myths" from their thinking about changing jobs. |
Registered Rep.
July 18, 2014
Mindy Diamond |
The Waiting Game Just as you can't time the market, you can't time a move to another firm -- or, at least, you shouldn't. |
Registered Rep.
September 1, 2005
Mindy Diamond |
Look Homeward When financial advisors decide to embark on a job search, they often overlook one very important firm to evaluate: their current one. |
Registered Rep.
October 1, 2004 |
When the Loan Comes Due I switched firms three years ago, joining a wirehouse offering a seven-year forgivable loan as upfront payment. Since hiring on at the new firm, my production has nosedived. If I am fired, can my firm legally ask for the balance of the forgivable loan back? |
Registered Rep.
April 1, 2006
Mindy Diamond |
On the Rebound Big firms are sending low-producing brokers messages that they are no longer as wanted as they once were. Brokers who see the handwriting on the wall, may have better options if they jump to another firm before being pushed. |
Registered Rep.
October 1, 2005
Mindy Diamond |
What Size Pond? It is important for advisors to find a firm that is a good fit for their particular goals. In many cases, small firms work well. For advisors looking to expand their books aggressively, larger firms are often -- but not always -- a good option. |
Registered Rep.
June 1, 2005
William A. Jacobson |
Don't Do It Turning down a transition package is not an easy thing to do, but when confronted with an offer of "upfront money," the two smartest words an advisor can utter are, "No thanks." |
Registered Rep.
June 17, 2011
Philip Palaveev |
The Problem with Recruiting Bonuses Too many advisors believe that broker/dealers have gone crazy and are paying great bonuses because they are very competitive. |
Registered Rep.
November 1, 2002
Jonathan Arfa |
Breaking Up Is Hard to Do Brokers partner up for a variety of reasons. Some kind of contract is needed when a partnership between members of a team of brokers is formed, whether it be between a senior broker and junior colleagues or just between two seasoned brokers. Brokers should consider this contract seriously. |
Registered Rep.
March 23, 2011
Philip Palaveev |
How To Handle An Imploding Broker/Dealer As we watch one independent broker/dealer after another succumb to regulatory action, financial problems or consolidation, many advisors are questioning the security of their very livelihoods. |
Investment Advisor
August 2005
Mark Tibergien |
Formulas for Success: Independence Day There is a growing trend toward registered reps moving out of the wirehouse environment -- a trend invisible to most, but obvious to the country's leading custodians: they are actively wooing breakaway brokers. |
Registered Rep.
February 1, 2005
Mindy Diamond |
Customize Your Career As a result of broker dissatisfaction with the status quo, the increasing clout of top producers (at some firms) and the need for firms to keep successful reps happy, we're beginning to see quite a bit more flexibility. |
On Wall Street
February 1, 2011
Carri Degenhardt-Burke |
The Year Of The Wirehouse If you are serious about growing your business, get to a wirehouse! And if you just left, go back. It's been a long-standing notion that financial advisors perform better within the wirehouse system. |
Registered Rep.
November 1, 2006
John Churchill |
A.G.E. to Catch a Rep Instead of buying brokers like its peers with offers of big upfront forgivable loans, A.G. Edwards is offering its own reps bonuses for successfully recruiting good reps. |
Registered Rep.
February 1, 2005 |
Conditional Forgiveness I've taken loans before, but I've never seen one of the requirements in this one: forgiveness tied to production. Should I accept it? |
Registered Rep.
June 9, 2009
Halah Touryalai |
Fewer Advisors Switch B/Ds in May The number of advisors switching firms dropped 23 percent in May versus April, according to Discovery Database. |
Investment Advisor
December 2005
Melanie Waddell |
Breaking Away Brokers are finding it easier than ever to go independent, aided by custodians and other independent advisors. |
Registered Rep.
January 1, 2007
Mindy Diamond |
New Year, New Job? January is a month for making resolutions in all areas of your life. Make one now to take a realistic assessment of your current career situation. Here are two questions every financial advisor should ask himself periodically. |
Registered Rep.
November 11, 2010
Kristen French |
Sources: New SEC Rules Won't Kill Upfront Bonuses New rules governing broker recruiting bonuses? The idea, floated by Mary Schapiro on Monday, met with skepticism this week from securities industry attorneys, compensation experts and recruiters. |
Registered Rep.
July 7, 2015
Mindy Diamond |
Move Once, Monetize Twice The notion of changing firms late in your career brings up many questions, not just related to the advisor's own financial future, but also to your clients and legacy. |
Registered Rep.
November 1, 2005
Christopher O'Leary |
Creating an Escape Plan Independence has long been a dream of many wirehouse reps. But for the great majority of wirehouse pros, it remains simply that. Going independent is a proposition fraught with peril and is not to be taken lightly. |
Registered Rep.
October 1, 2002
David A. Gaffen |
Behind Every Great Producer, A Great Assistant This survey details trends in the compensation, duties and preferences of sales assistants, essential players in the brokerage business. |
Registered Rep.
March 31, 2015
Diana Britton |
How Advisors Are Paid The ascendancy of fee-based compensation in the independent broker/dealer space continues. |
Registered Rep.
June 3, 2015
Megan Leonhardt |
Compensation Survey 2015: How Advisors Stack Up Advisors whose business mix leans more toward fees make almost twice as much as those who still lean heavily toward commissions, according to data collected in WealthManagement.com's compensation survey. |
Financial Advisor
April 2005
Tracey Longo |
Winning Over Wirehouse Brokers AIG's transition suites help brokers become independent. |
Registered Rep.
January 7, 2011
Kristen French |
Will the SEC Curtail Recruiting Bonuses? With brokerage revenues getting squeezed and regulators sniffing around compensation issues and potential conflicts of interest, it's possible that 2011 could bring some changes to broker comp plans. |
Registered Rep.
November 1, 2006
Halah Touryalai |
The Entrepreneur Equation Many a rep dreams of going independent, if only for a minute. But is it worth it, especially these days when most firms are offering record upfront signing bonuses? |
Registered Rep.
October 24, 2013
Mindy Diamond |
When Good Advisors Get Fired Sometimes you have to start over in order to have a happy ending, and that can be especially true in this industry. |
Registered Rep.
October 1, 2004
Nick Ferber |
Sunny Days In the interest of arming financial advisors with all they need to assess broker acquisition packages, here is a guide to deciding when it is mathematically justified to make a change. |
Investment Advisor
June 2008
Philip Palaveev |
The New Model: The Fee-Only Broker/Dealer Independent broker/dealers must tackle head-on the causes of their frustration if they wish to survive. |
Registered Rep.
March 12, 2010
Mindy Diamond |
Break Back Brokers Over the last six months, an interesting reverse shift is occurring: the RIA or independent b/d advisor who wants to return to (or go to for the first time) a wirehouse firm. |
Registered Rep.
May 13, 2009
Christina Mucciolo |
Wall Street Squeezes Small Brokers, Many Go Independent In this brutal market, many advisors are taking payout cuts or being let go. But many of these advisors are finding homes at independent and regional b/ds and RIA firms. |
Registered Rep.
November 1, 2002
David A. Gaffen |
Requiem for the $250K Broker Until recently, brokers were immune to the industry's downsizing, which has included a decimation of the ranks of investment bankers and the elimination of thousands of support positions. Brokers, it was assumed, covered their own costs by generating commissions and fees. Not anymore. |
