Profiles of firms responding to arjuna-design survey: I - R

Jan 17, 2005 @ 12:01 am

ING Advisors Network Inc.

Financial Network Investment Corp.

200 N. Sepulveda Blvd, Suite 1300

El Segundo, CA 90245

Phone: (800) 879-8100

Fax: (310) 784-1134

URL: financialnetwork.com

CEO: Jack Handy

Head of recruiting: Cheryl Chiara

Title: senior vice president of business development

E-mail: [email protected]

Director of marketing: David Weathers

Title: channel account manager

E-mail: [email protected]

No. of reps: 2,900

Reps>$100,000: 743

Average payout: varies

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $2,675

Description: Financial Network Investment Corp.'s primary business is financial planning, attracting a highly experienced, committed cadre of independent financial professionals who fervently believe in putting a client's needs and desires first. The firm is particularly skilled at developing existing registered representatives through focused programs and training.

ING Financial Partners

909 Locust St.

Des Moines, IA 50309

Phone: (800) 356-2906

Fax: (515) 698-2038

URL: ingfinancialpartners.com

CEO: Karl Lindberg

Head of recruiting: Eric Rubin

Title: VP, business and strategic development

E-mail: [email protected]

Director of marketing: Michael Owen

Title: director of marketing

E-mail: [email protected]

No. of reps: 2,425

Reps>$100,000: 360

Average payout: varies

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $2,500

Description: ING Financial Partners offers the independence and flexibility to choose products without quotas, and the freedom to manage an individual practice. Additionally, we offer a distinctive value that clearly sets us apart: affiliation with a world-class brand.

Multi-Financial Securities Corp.

1290 Broadway

Denver, CO 80203

Phone: (800) 929-3485

Fax: (303) 571-4400

URL: multifin.com

CEO: Pat McEvoy

Head of recruiting: Josh Hayes, CFP

Title: regional vice president

E-mail: [email protected]

Director of marketing: Sandie Lubotsky

Title: marketing account manager

E-mail: [email protected]

No. of reps: 1,220

Reps>$100,000: 341

Average payout: varies

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $2,862

Description: Multi-Financial Securities Corp. has a long history of building relationships - and even stronger friendships. Even as it grows, the firm still believes that relationships are what matter most. Backed by a first-rate network of people, as well as products, and round-the-clock resources, the firm offers everything independent financial professionals need to build a successful business and guide their clients to a better financial future. One-hundred percent independent, 100% relationship: That's Multi-Financial. Multi-Financial is an ING company.

PrimeVest Financial Services

400 First Street S., Suite 300

St. Cloud, MN 56301

Phone: (800) 245-0467

Fax: (320) 656-4088

URL: primevest.com

CEO: Randy Ciccati

Head of recruiting: Bruce Miller

Title: national sales manager

E-mail: [email protected]

Director of marketing: Leann McCool

Title: VP, financial-institutions channel and product marketing

E-mail: [email protected]

No. of reps: 2,180

Reps>$100,000: 333

Average payout: N/A

Clearing firm used: self-clearing

Cost of E&O insurance (per year): $2,304

Description: PrimeVest Financial Services is a self-clearing broker-dealer with a nationwide reputation for providing quality investment and insurance solutions exclusively to financial institutions. Nearly 600 financial institutions rely on PrimeVest as their broker-dealer.

InterSecurities Inc.

570 Carillon Parkway

St. Petersburg, FL 33716

Phone: (800) 322-7161

Fax: (727) 299-1800

URL: intersecurities.com

CEO: N/A

Head of recruiting: Tom Moriarty

Title: president

E-mail: [email protected]

Director of marketing: Tammy Redmond

Title: AVP, director of marketing

E-mail: [email protected]

No. of reps: 2,500

Reps>$100,000: 326

Average payout: 90%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $1,416

Description: ISI is a fully licensed, independent broker-dealer and registered investment adviser serving over 2,500 financial professionals nationwide, and a member of the AEGON Group, one of the largest financial organizations in the world. ISI is dedicated to giving financial professionals the service and freedom needed to run a successful business.

Investacorp Inc.

15450 New Barn Road

Miami Lakes, FL 33014

Phone: (800) 804-0000

Fax: (305) 362-9650

URL: investacorp.com

CEO: Bruce Zwigard

Head of recruiting: Valerie Hobbie

Title: recruiting director

E-mail: [email protected]

Director of marketing: Allyson Hobbie

Title: vice president, support services

E-mail: [email protected]

No. of reps: 501

Reps>$100,000: not provided

Average payout: 85%

Clearing firms used: Bear Stearns, National Financial Services LLC and ADP Clearing

Cost of E&O insurance (per year): $1,800

Description: Investacorp is the right choice for registered representatives seeking to associate with a broker-dealer that is truly independent and that has no conflicts of interest. For more than 25 years, our only mission has been to help financial professionals optimize their time, service clients with excellence and grow their business.

Investors Capital Corp.

230 Broadway E.

Lynnfield, MA 01940

Phone: (800) 949-1422

Fax: (781) 593-9464

URL: investorscapital.com

CEO: Theodore E. Charles

Head of recruiting: Timothy Murphy

Title: president

E-mail: [email protected]

Director of marketing: Darren Horwitz

Title: manager, corporate communication

E-mail: [email protected]

No. of reps: 860

Reps>$100,000: 123

Average payout: 87%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $2,250

Description: is a nationally recognized independent broker-dealer with experienced financial professionals located throughout the United States. The company is committed to providing the highest-quality services and a full array of investment products to its registered financial representatives and their clients. Investors Capital Corp. supports registered representatives with proven sales and marketing programs to help attract new client business, identify niche markets and dramatically increase production.

J.P. Turner & Co. LLC

One Buckhead Plaza

3060 Peachtree Rd. N.W., 11th Floor Atlanta, GA 30305

Phone: (404) 479-8300

Fax: (877) 660-9936

URL: jpturner.com

CEO: Tim McAfee

Head of recruiting: Al Pierantozzi

Title: vice president, business development

E-mail: [email protected]

Director of marketing: Dean Vernoia

Title: chief operating officer

E-mail: [email protected]

No. of reps: 550

Reps>$100,000: N/A

Average payout: 85%-90%

Clearing firm used: Fiserv Securities Inc.

Cost of E&O insurance (per year): $1,800

Description: We focus on the needs of our clients and provide them with the highest-quality service possible. We provide our clients with superior products and services to assist them in reaching their financial objectives. Our unique strength is our broker-friendly environment.

Jefferson Pilot Securities Corp.

One Granite Place

Concord, NH 03301

Phone: (800) 258-3648

Fax: (603) 229-6139

URL: jpsecurities.com

CEO: David Booth

Head of recruiting: Marty Kennedy

Title: vice president, director of marketing

E-mail: [email protected]

Director of marketing: Marty Kennedy

Title: vice president, director of marketing

No. of reps: 2,100

Reps>$100,000: 265

Average payout: 90%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $1,500

Description: Jefferson Pilot Securities Corp. is a full-service solutions provider for independent advisers. We put the full power of our resources to work behind your business and your brand.

Kovack Securities Inc.

6451 N. Federal Highway, Suite 1201 Fort Lauderdale, FL 33308

Phone: (866) 564-6574

Fax: (954) 337-0168

URL: joinksi.com & kovsec.com

CEO: Ron J. Kovack

Head of recruiting: Carlo Bidone

Title: senior VP/director of branch development

E-mail: [email protected]

Director of marketing: Carlo Bidone

Title: senior VP/director of branch development

No. of reps: 235

Reps>$100,000: 46

Average payout: 90%

Clearing firms used: National Financial Services LLC and Pershing LLC

Cost of E&O insurance (per year): $1,620

Description: True independence for those reps and advisers seeking just that. We help you brand yourself and your practice. We help investment advisers and reps be successful in helping their clients achieve their financial objectives.

LaSalle Street Securities LLC

223 W. Lake St.

Chicago, IL 60606

Phone: (800) 777-7865

Fax: (312) 705-5039

URL: lasalle-st.com

CEO: John W. McDermott

Head of recruiting: Jim Baldwin

Title: director, recruiting and sales

E-mail: [email protected]

Director of marketing: Scott Barlow

Title: director, business development

E-mail: [email protected]

No. of reps: 470

Reps>$100,000: 127

Average payout: 90%

Clearing firm used: National Financial Services LLC

Cost of E&O insurance (per year): $1,035

Description: With a myriad of financial products available, investors seek a firm that has the capacity and expertise to address all of their needs. Since 1974, individuals, companies, professional investors and institutions have come to expect the highest levels of knowledge, professionalism and service from Lasalle Street Securities LLC. Our services extend to a network of independent registered representatives, broker-dealers, banks, savings and loans, credit unions, investment advisers and futures commission merchants.

Legacy Financial Services

2090 Marina Ave., P.O. Box 6030 Petaluma, CA 94955

Phone: (707) 781-6100

Fax: (707) 781-6148

URL: legacynet.com

CEO: Lynda Regan

Head of recruiting: Larry Qvistgaard

Title: vice president

E-mail: [email protected]

Director of marketing: Larry Qvistgaard

Title: vice president

No. of reps: 310

Reps>$100,000: 50

Average payout: 87%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $2,020

Description: Legacy Financial Services is a nationally licensed broker-dealer serving the unique needs of insurance-oriented financial advisers. LFS offers a wide array of securities products and investment advisory services to its 300+ advisers.

Linsco/Private Ledger Corp.

9785 Towne Centre Drive

San Diego, CA 92121

Phone: (858) 450-9606

Fax: (858) 546-7851

URL: lpl.com

CEO: Mark Casady

Head of recruiting: Bill Dwyer

Title: managing director, branch development

E-mail: [email protected]

Director of marketing: Kandis Bates

Title: senior VP, corporate marketing

E-mail: [email protected]

No. of reps: 5,825

Reps>$100,000: 3,250

Average payout: 87%

Clearing firm used: self-clearing

Cost of E&O insurance (per year): $1,625

Description: Linsco/Private Ledger is the largest independent-brokerage firm in the United States. LPL provides unbiased research, leading-edge technology and non-proprietary products to independent financial advisers and financial institutions, positioning them as the premier providers of investment advice and services.

M Holdings Securities Inc.

1125 N.W. Couch St., Suite 900 Portland, OR 97209

Phone: (503) 232-6960

Fax: (503) 238-1621

URL: mfin.com

CEO: Randy O'Connor

Head of recruiting: Connie Morrison

Title: senior vice president, marketing

E-mail: [email protected]

Director of marketing: Susan O'Sullivan

Title: vice president, marketing

E-mail: [email protected]

No. of reps: 539

Reps>$100,000: 142

Average payout: $235,684

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): N/A

Description: M Securities is focused on the upscale producer and clients, providing service, support and products for the high-net-worth and corporate markets.

MML Investors Services Inc.

1414 Main St.

Springfield, MA 01144

Phone: (800) 542-6767

Fax: (413) 734-1988

URL: mmlisi.com

CEO: Tom Monti

Head of recruiting: Ed Yournell

Title: vice president

E-mail: [email protected]

Director of marketing: John Chalfant

Title: director

E-mail: [email protected]

No. of reps: 5,000+

Reps>$100,000: 337

Average payout: 86%

Clearing firm used: National Financial Services

Cost of E&O insurance (per year): $1,600

Description: MassMutual's broker dealer subsidiary, MML Investors Services Inc., offers investment products, money management and financial planning programs essential to its registered representative's ability to meet client needs. Through selling agreements with product providers, it offers mutual funds, managed-money products, securities brokerage services, real estate investment trusts, limited partnerships, and variable life and annuity products.

National Planning Holdings Inc.

2701 N. Rocky Point Drive

Seventh Floor

Tampa, FL 33607

Phone: (800) 245-4732

Fax: (813) 289-1955

URL: investfinancial.com

CEO: Lynn R. Niedermeier

Head of recruiting: business development team

E-mail: [email protected]

Director of marketing: Shelly Megna

Title: vice president, financial planning

E-mail: [email protected]

No. of reps: 528

Reps>$100,000: 293

Average payout: up to 93%

Clearing firms used: Pershing LLC and National Financial LLC

Cost of E&O insurance (per year): $2,700

Description: INVEST Financial offers competitive payout, matching deferred-compensation plan and transition incentives. Our reps have the ability to partner with local banks and credit unions, and enjoy a choice of clearing platforms - Pershing or National Financial. Our mission is to back your efforts and your unique way of doing business with a comprehensive menu of products, leading-edge technology and multilevel support; by communicating with you often to elicit your input; by treating you with respect; and by delivering what you need, when you need it.

212 N. Fourth St.

Bismarck, ND 58501

Phone: (701) 250-3300

Fax: (701) 258-5400

URL: investmentcenters.com

CEO: Greg Gunderson

Head of recruiting: Kathy Gottlieb

Title: recruiter

E-mail: [email protected] .com

Director of marketing: Byron Hill

Title: senior vice president

E-mail: [email protected]

No. of reps: 258

Reps>$100,000: 134

Average payout: 75%-88%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $140 Month

Description: We have a passion for helping people grow personally, professionally and financially. We have one of the highest average rep productions in the independent marketplace. We achieve that by leveraging all the resources available to our advisers and by showing them how to use the tools which will give them more success in serving their clients and themselves.

National Planning Corp.

401 Wilshire Blvd., Suite 1100

Santa Monica, CA 90401

Phone: (800) 201-3257

Fax: (310) 395-2527

URL: natplan.com

CEO: Shawn Dreffein

Head of recruiting: Bonnie Schab

Title: senior VP, new-business development

E-mail: [email protected]

Director of marketing: Craig Lewis

Title: director of marketing

E-mail: [email protected]

No. of reps: 1,175

Reps>$100,000: 375

Average payout: $106,250

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $2,700 -includes fee

Description: NPC is a full-service broker-dealer serving independent investment professionals nationwide. Leading the way in advanced technology and service, NPC is dedicated to providing the best tools, products and services to help our representatives and their clients achieve their goals and objectives.

5555 Grande Market Drive

Appleton, WI 54913

Phone: (800) 426-5975

Fax: (920) 954-2740

URL: siionline.com

CEO: James P. Miller

Head of recruiting: Todd Kinart

Title: first VP, new-business development

E-mail: [email protected]

Director of marketing: Wendy Kottke

Title: director of marketing

E-mail: [email protected]

No. of reps: 580

Reps>$100,000: 70

Average payout: 91%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): part of monthly fee

Description: SII Investments Inc. is a full-service broker-dealer with a team of individuals whose knowledge, insight and ingenuity rank us among the top talent in the industry. We focus on providing high-touch service and quality support to experienced financial professionals. Combine that with the time-saving back-office advancements that bring real bottom-line efficiencies, and you have a partner for success. Experience the difference. Experience SII.

NEXT Financial Group

2500 Wilcrest, Suite 620

Houston, TX 77042

Phone: (713) 789-7122

Fax: (713) 980-1687

URL: nextfinancial.com

CEO: Jeff Auld

Head of recruiting: Jeff Auld

Title: president

E-mail: [email protected]

Director of marketing: James Manouse

Title: director of marketing

E-mail: [email protected]

No. of reps: 607

Reps>$100,000: 103

Average payout: 89%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $1,500

Description: The firm is designed to serve the best interests of the reps, many of whom are shareholders. Every registered rep and employee is eligible to purchase shares through the company's stock purchase plan. NEXT advantages are decision-making independence, cutting-edge technology, award-winning back-office support and competitive payouts. Make your NEXT broker-dealer your last broker-dealer.

NFP Securities Inc.

1250 S. Capital of Texas Highway

Suite 125

Austin, TX 78746

Phone: (512) 697-6900

Fax: (512) 697-5900

URL: nfp.com

CEO: Jeff Montgomery

Head of recruiting: Tom Arcieri

Title: VP, mergers and acquisitions

E-mail: [email protected]

Director of marketing: Elliot Holtz

Title: executive VP, marketing and firm operations

E-mail: [email protected]

No. of reps: 1,183

Reps>$100,000: 202

Average payout: 91%

Clearing firms used: National Financial Services and Pershing LLC

Cost of E&O insurance (per year): N/A

Description: NFP acquires and affiliates with the top-producing independent advisers in the industry. NFP serves entrepreneurs who focus on the high-net-worth and midsize corporate marketplace. NFP focuses its efforts on developing resources for advisers to build their revenue and run their practice more efficiently.

Northeast Securities Inc.

333 Earle Ovington Blvd., Suite 706 Mitchell Field, NY 11553

Phone: (516) 396-1619

Fax: (516) 396-1629

URL: nesec.com

CEO: Stephen J. Perrone

Head of recruiting: Stephen J. Perrone

Title: chairman

E-mail: [email protected]

No. of reps: 180

Reps>$100,000: 125

Average payout: 80%

Clearing firm used: Bear Stearns

Cost of E&O insurance (per year): $2,220

Description: We provide a high level of customer support, state-of-the-art clearing services and a dedicated home-office staff that values the opportunity to help both our brokers and clients. Our representatives' integrity, the firms' reputation and the clients' trust are first and foremost.

Pacific Select Distributors Inc.

Associated Securities Corp.

5933 W. Century Blvd., Ninth Floor

Los Angeles, CA 90045

Phone: (310) 670-0800

Fax: (310) 337-6926

URL: afgweb.com

CEO: Neal Nakagiri

No. of reps: 285

Reps>$100,000: 150

Average payout: 90%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): 3,500

Description: a family-oriented broker-dealer and diversified financial services company dedicated to advancing the professionalism of its financial advisers. The firm accomplishes this mission by providing a superior level of hands-on service and personalized attention.

Mutual Service Corp.

P.O. Box 24777

West Palm Beach, FL 33416

Phone: (800) 749-8900

Fax: (561) 835-1920

URL: joinmsc.com

CEO: John Dixon

Head of recruiting: Jay Vinson

Title: VP and manager, new-business development

E-mail: [email protected]

Director of marketing: Vince Cloud

Title: executive VP and chief marketing officer

E-mail: [email protected]

No. of reps: 1,542

Reps>$100,000: 398

Average payout: $102,371

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): N/A

Description: MSC is dedicated to offering the highest-quality education, products, services and essential related systems to independent financial advisers who provide financial services for individual, family and corporate clients.

United Planners'

Financial Services of America

7333 E. Doubletree Ranch Road

Suite 120

Scottsdale, AZ 85258

Phone: (800) 966-8737

Fax: (480) 991-2714

URL: unitedplanners.com

CEO: Thomas Oliver

Head of recruiting: Tammy Robbins

Title: vice president

E-mail: [email protected]

Director of marketing: Jeannette Vernia

Title: senior vice president

E-mail: [email protected]

No. of reps: 317

Reps>$100,000: 85%

Average payout: 85%-95%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): negotiated annually

Description: United Planners' is the most personal, service-oriented broker-dealer in the industry today. Receive high payouts and share profits as a partner. United Planners offer the stability of a large firm with all the advantages of a small firm. Access to senior management plus multimillion-dollar online technology provide you the best of both worlds.

Waterstone Financial Group

500 Park Blvd., Suite 800

Itasca, IL 60143

Phone: (630) 250-7000

Fax: (630) 250-7097

URL: waterstonefinancialgroup.com

CEO: Thomas Hopkins

Head of recruiting: David Roberts

Title: vice president

E-mail: [email protected]

Director of marketing: John Hicks

Title: vice president

E-mail: [email protected]

No. of reps: 580

Reps>$100,000: 110

Average payout: 87%

Clearing firms used: Pershing LLC and Mesirow

Cost of E&O insurance (per year): $1,500

Description: Waterstone is the Midwest's fastest-growing broker dealer for the independent representative. We are the ideal firm for the entrepreneurial representative who wants to have access to package products or managed accounts. Great technology and access to senior management.

Pacific West Financial Group

555 S. Renton Village Place, Suite 700 Renton, WA 98055

Phone: (888) 236-7979

Fax: (425) 255-8567

URL: pwfinancial.com

CEO: Tony Pizelo

Head of recruiting: Karalyn Carlton

Title: marketing and business development coordinator

E-mail: [email protected]

Director of marketing: Erinn Ford

Title: chief operating officer/VP

E-mail: [email protected]

No. of reps: 285

Reps>$100,000: 79

Average payout: 86%

Clearing firms used: Pershing LLC and Wedbush Morgan

Cost of E&O insurance (per year): $1,810

Description: Pacific West Financial Group is a true independent-financial-services organization that puts the representative first. Since 1972, Pacific West has been successful by providing quality products and services specifically designed to meet clients' financial needs. Our dedicated team of professionals makes the difference at Pacific West. We have people willing to devote extra effort to serve representatives.

Pan-American Financial Advisers

601 Poydras St.

New Orleans, LA 70130

Phone: (504) 566-3300

Fax: (504) 566-3638

URL: pafainc.com

CEO: Rachael Schorr

Head of recruiting: Rachael Schorr

Title: president

E-mail: [email protected]

Director of marketing: Rachael Schorr

Title: president

No. of reps: 200

Reps>$100,000: 75

Average payout: 90%

Clearing firms used: Pershing LLC and Raymond James

Cost of E&O insurance (per year): $2,200

Description: Pan-American Financial Advisers, through seasoned independent representatives, provides brokerage and financial planning services to retail and institutional clients nationwide. Services include 401(k) and other retirement plans, stocks, bonds, mutual funds and variable annutities. Pan-American Financial Advisers is a member of NASD/SIPC and a wholly owned subsidiary of Pan-American Life Insurance Co.

PlanMember Securities Corp.

6187 Carpinteria Ave.

Carpinteria, CA 93013

Phone: (800) 874-6910

Fax: (805) 684-3500

URL: joinplanmember.com

CEO: Jon Ziehl

Head of recruiting: Kevin Twohy

Title: vice president, partner development

E-mail: [email protected]

Director of marketing: Richard Ford

Title: senior vice president, marketing

E-mail: [email protected]

No. of reps: 430

Reps>$100,000: 35

Average payout: 90%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $1,570

Description: Since 1982, PlanMember Securities has been a leading broker-dealer for retirement plan and 403(b) business, providing specialized marketing support and compliance for this unique market niche. PlanMember is widely known for its successful fee-based-asset platform and ranks No. 1 in the industry for fee-based business (fee revenue as a percent of gross revenue), with 57% of revenues derived from asset platform fees. PlanMember is known for helping its reps be successful by off-loading from the reps many administrative tasks, with support such as an industry-first client call center and on-site in-person assistance from the home-office staff.

Prime Capital Services

11 Raymond Ave.

Poughkeepsie, NY 12603

Phone: (845) 471-8600

Fax: (845) 818-3525

URL: primefs.com

CEO: Michael P. Ryan

Head of recruiting: Michael P. Ryan

Title: president

E-mail: [email protected]

No. of reps: 328

Reps>$100,000: 125

Average payout: 87%

Clearing firm used: National Financial Services Inc.

Cost of E&O insurance (per year): $2,088

Description: Prime Capital is a wholly owned subsidiary of Gilman + Ciocia, one of the country's top 30 accounting firms. Gilman + Ciocia partners Prime reps with tax professionals to handle the financial planning needs of their tax clients. In addition, the company offers a state-of-the-art seminar selling system. Last year, more than 15,000 prospects attended one of our seminars.

Princor Financial Services Corp.

711 High St.

Des Moines, IA 50392

Phone: (888) 774-6267

Fax: (515) 248-2394

URL: princor.com

CEO: Mike Beer

Head of recruiting: Susan Haupts

Title: recruiting officer

E-mail: [email protected]

Director of marketing: Kyle Selberg

Title: marketing director

E-mail: [email protected]

No. of reps: 2,400+

Reps>$100,000: N/A

Average payout: varies

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $1,352

Description: Princor Financial Services provides its registered representatives a full range of products and services for businesses, groups and individuals. Products include retirement plans and non-qualified solutions, mutual funds, securities trading, variable annutities, variable life, managed accounts and fee-based services, fee-based brokerage accounts and more.

ProEquities Inc.

2801 Highway 280 S.

Birmingham, AL 35223

Phone: (800) 288-3035

Fax: (205) 268-3488

URL: proequities.com

CEO: Minke Mungenast

Head of recruiting: Allen Porter

Title: chief marketing officer

E-mail: [email protected]

Director of marketing: Allen Porter

Title: chief marketing officer

No. of reps: 850

Reps>$100,000: 175

Average payout: 90%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $1,080 for S7

Description: At ProEquities, we serve as your business consultant to apply results-proven systems and training to achieve your goals. As a premier broker-dealer for independent reps, we are committed to quality, dedicated to service and focused on your growth. By embracing the demand for development, we put these core values into action in everything we do.

5429 LBJ Freeway, Suite 400

Dallas, TX 75240

Phone: (972) 581-3000

Fax: (972) 581-3001

URL: prosperafinancial.com

CEO: David Stringer

Head of recruiting: Pia Curry

Title: new-business development

E-mail: [email protected]

Director of marketing: Quincy Whitehead

Title: director of products/marketing

E-mail: [email protected]

No. of reps: 66

Reps>$100,000: 50

Average payout: up to 95%

Clearing firm used: First Clearing Corp. LLC

Cost of E&O insurance (per year): $2,000

Description: Control, ownership, freedom. Prospera Financial Services was founded in 1982 as a full-service broker-dealer and support organization for successful independent financial professionals. We support a variety of flexible business models including in-house independents, traditional independents, RIAs and smaller broker-dealers. Our uniqueness is our dedication to providing independent and unbiased financial advice to our clients. We are not affiliated with any product providers and have elected not to offer proprietary products of any kind.

Protected Investors of America Inc.

235 Montgomery St., No. 1050

San Francisco, CA 94104

Phone: (415) 398-4363

Fax: (415) 398-6789

URL: protectedinvestors.com

CEO: Rita Buchfinck

Head of recruiting: Sonya Dreizler

Title: executive assistant

E-mail: [email protected]

Director of marketing: Rita Buchfinck

Title: president

E-mail: [email protected]

No. of reps: 75

Reps>$100,000: 22

Average payout: 84%

Clearing firm used: National Financial Services LLC

Cost of E&O insurance (per year): $1,300

Description: Protected Investors of America, founded in 1934, is committed to preserving its long history of success and vitality attributed to the integrity of its associates and their individual businesses.

QA3 Financial Corp.

One Valmont Plaza, Fourth Floor Omaha, NE 68154

Phone: (888) 337-4094

Fax: (402) 964-3708

URL: qa3.com

CEO: Ted A. Lange Sr., CFP

Head of recruiting: Debra K. Grier

Title: vice president/branch development

E-mail: [email protected]

Director of marketing: Scott Friel

Title: vice president

E-mail: [email protected]

No. of reps: 400

Reps>$100,000: 400

Average payout: 90%

Clearing firm used: Pershing LLC

Cost of E&O insurance (per year): $1,525

Description: QA3 Financial Corp. is a comprehensive wealth management company whose vision is to perfect the way the world plans. QA3 has created a network of financial advisers, estate- and business-planning attorneys, and CPAs, who support one another in a collaborative financial planning process. QA3's goal is to be our financial advisers' business partner, not just a broker-dealer to clear trades.

Raymond James

Financial Services Inc.

880 Carillon Parkway

St. Petersburg, FL 33716

Phone: (800) 998-7537

Fax: (727) 567-8136

URL: advisorchoice.com

CEO: Richard G. Averitt III

Head of recruiting: William D. McGovern

Title: senior vice president

Director of marketing: Margie Blue

Title: first vice president

No. of reps: 3,636

Reps>$100,000: 2,022

Average payout: $223,438

Clearing firm used: Raymond James & Associates Inc.

Cost of E&O insurance (per year): $1,680

Description: No other firm gives an adviser more choices to build their business, because no other firm is more dedicated to meeting the needs of an adviser's long-term success. AdvisorChoice from Raymond James.

Register & Akers Investments Inc.

3500 Lenox Road, Suite 1700

Atlanta, GA 30326

Phone: (404) 364-2180

Fax: (404) 364-2182

URL: registerandakers.com

CEO: George P. Register

Head of recruiting: George Register

Title: principal

E-mail: [email protected]

Director of marketing: Scott Akers Jr.

Title: principal

E-mail: [email protected]

No. of reps: 16

Reps>$100,000: 16

Average payout: 40%-50%

Clearing firm used: First Clearing LLC

Description: We are a Southeastern regional NASD broker-dealer and SEC-registered investment adviser serving the individual investor through a traditional brokerage platform. We are an independent firm specializing in three areas of expertise: Southeastern small-cap research, investment consulting, and hedge fund due diligence and research. With an independent platform, we can work in the best interest of our clients by adding value, building relationships and demonstrating performance.

Round Hill Securities Inc

3191 Danville Blvd.

Alamo, CA 94507

Phone: (925) 820-3980

Fax: (925) 820-3993

URL: roundhill.com

CEO: Adam Antoniades

Head of recruiting: Tom Sboto

Title: executive vice president of recruiting

E-mail: [email protected]

No. of reps: 102

Reps>$100,000: 75

Average payout: 89%

Clearing firms used: Bear Stearns and Fiserv Securities

Cost of E&O insurance (per year): $3,000

Description: Great technology and consistent customer service skills helps Round Hill expertly service highly qualified experienced reps; therefore, our average production/assets under management per rep is higher than at most other independent broker-dealers. General securities, mutual funds, fee-based programs, RIAs, annuities, insurance, cash management, IPOs, as well as very high-quality private-placement offerings of emerging companies supported by some of America's best venture capital firms.

0
Comments

What do you think?

View comments

Recommended for you

Upcoming Event

Jul 10

Conference

Women Adviser Summit

The arjuna-design Women Adviser Summit, a one-day workshop now held in four cities due to popular demand, is uniquely designed for the sophisticated female adviser who wants to take her personal and professional self to the next level.... Learn more

Editor Fred Gabriel talks to reporter Ryan Neal about how college-savings strategies are more important than ever as tuition costs soar.

Video Spotlight

Recommended Video

Channels

Latest news & opinion

New ways to pay for college

Experts respond to real-life scenarios of people struggling to afford higher education.

How technology is reshaping the advice business

Artificial intelligence, Amazon and robo-advisers are some of the topics on the minds of tech experts.

Best- and worst-performing sector funds and ETFs this year

A rising tide may lift all ships, but a bull market doesn't lift all stock sectors. Here are the best- and worst-performing sectors this year, with the top and bottom fund in each sector.

Betterment slapped with $400,000 fine from Finra

Robo-adviser cited for violating customer protection rule and not maintaining its books and records correctly.

Supreme Court ruling on SEC judges unlikely to upend advice industry

But it could give rise to new hearings for some advisers who are already in litigation with the agency such as Dawn Bennett.

X

Hi! Glad you're here and we hope you like all the great work we do here at arjuna-design. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting arjuna-design.com? It'll help us continue to serve you.

Yes, show me how to whitelist arjuna-design.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Last News

hewitt resources 3m maryland college saving plan blackrock large cap equity index fund symbol 1099r tax codes best vanguard target retirement fund 1099r code equifax plc partial surrender life insurance military retired pay cola neuberger berman high income bond fund death protection component of universal life metropolitan west total return bond fund class i using roth ira for college savings health care costs in retirement estimator life settlement investments pros and cons what is the value of a 1943 steel wheat penny what is the average salary for an nfl player jones lang lasalle income property trust early withdrawal from 401k without penalty vanguard fiduciary trust company valley forge pa vanguard target retirement 2025 trust ii vanguard emerging market stock index fund current cd rates wells fargo compare h&r block tax software salary certified financial planner taxation of ira distributions full form of cfp american funds 529 reviews what is a 60 day rollover married to a widower blog widows social security spousal benefits ira rollover 60 day rule life expectancy actuarial tables