Investors Cap Aims to Double Advisor Sales

The independent broker-dealer hosts a workshop led by a top producer to help its reps reap more fees and commissions

Investors Capital (ICH) plans to host a special event to help 100 of its financial advisors double their level of fees and commmissions in four years, the group said last Thursday. The workshop will take place June 3-4 in Wakefield, Mass., and is part of the independent broker-dealer's "2X" challenge.

“I am confident that we as a firm are capable of achieving great things,” said President and CEO Tim Murphy (left), in a statement. “That’s why I issued the 2X challenge. I not only want our advisors to double their individual production, I want Investors Capital as a firm to double its size over the next four years. I know we will succeed.”

The 2X IN FOCUS workshop is set to be the first in a series of events to be held in 2013. It will be led by Ron Purvines, Investors Capital’s top-producing advisor in 2012. (Purvines became affiliated with the IBD in September 2011, when he had about $1.7 million in yearly production and some $200 million in assets under management.)

“I asked Tim what can I do to help Investors Capital, what can I do to give back?” said Purvines, in a press release. “Together, we came up with the idea for this workshop, and I’m honored to be partnering with him to help my fellow advisors and my broker-dealer grow and succeed.”

Purvines will outline the eight-step methodology he has used to become a million-dollar producer. He will focus on marketing, appointment setting, initial interviews, portfolio composition, implementation, servicing, client events and referrals.

“I owe my success to four main guiding principles within my practice: respect, return, retain, and referrals,” explained Purvines, who is the founder and owner of Countrywide Estate Planning of Henderson, Nev. “Each of my eight steps fall into one of those four categories. I have found that being disciplined in the first three principles, the fourth principle happens naturally. These principles are simple and can work for any advisor.”

As part of the workshop, participating advisors will have to complete a marketing plan, which will be tracked by Investors Capital home-office staff.

“We’ve built accountability into the program,” said Robert Foney, chief marketing officer and vice president of practice management for Investors Capital, in a statement. “The key to successful coaching is accountability, and accountability is the key to achieving positive change.”

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Read 5 Proven Ways to Drive More Word-of-Mouth Referrals on AdvisorOne.

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