The 2013 Broker-Dealers of the Year; Connecting With a New Demographic; BD Back-Office Challenges: September Investment Advisor — Slideshow

Once again, the reps have voted and named the best broker-dealers in the industry. Once again is right: each of the 2013 BDs of the Year have won before, and some have been named several times. It’s a signal that no matter how much change the industry experiences, some challenges will never go away. The 2013 Broker-Dealers of the Year are meeting those challenges head on.

As the pool of potential clients gets younger, advisors are challenged to meet the needs of clients far younger than themselves. They may even have junior advisors in their own firm who take a dramatically different approach to work than they do. What do advisors have to know to work with, and for, younger people?

We also talk to David Fetter of Quadron Data Solutions to learn about how independent broker-dealers can manage back-office challenges, and IMCA’s Elizabeth Piper/Bach explains why relying on a single designation is doing a disservice to advisors.

The More Things Change: The 2013 Broker-Dealers of the YearThe More Things Change: The 2013 Broker-Dealers of the Year

What was the question?” Russ Diachok innocently asked.

It wasn’t as if the president and CEO of Geneos Wealth Management wasn’t paying attention to the discussion before him. As other participants attempted to prompt him, they quickly realized they too had trouble remembering the original question. Backtracking revealed they’d jumped from compliance to social media to next-gen to succession planning, all without a question in between.

It was a stark example of the increasing interconnectedness of issues related to the independent broker-dealer business. Investment Advisor editors John Sullivan and James J. Green sat down with the winners of the 2013 Broker-Dealers of the Year for a roundtable in Chicago to learn more.

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Making the ConnectionMaking the Connection

While the 45 to 50 million Generation Xers and 80 to 85 million millennials together outnumber the 75 to 80 million baby boomers, many advisors continue using boomer tactics with these two groups and offering financial services created with boomer clients in mind. Olivia Mellan speaks with several experts on generational differences to break down the best strategies for advisors trying to reach each demographic.

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Straight Talk on Straight-Through ProcessingStraight Talk on Straight-Through Processing

David Fetter, president and CEO of Denver-based software and back-office provider Quadron Data Solutions, has strong opinions about the challenges facing the independent broker-dealer space and what can be done to make its businesses better. He sits down with Editor in Chief John Sullivan to share those opinions.

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Alphabet Soup DecodedAlphabet Soup Decoded

It is obvious to financial advisors and wealth managers that our profession has grown incredibly complex. It’s no longer enough to just stay current. Successful advisors are lifelong learners who challenge the status quo. It is not possible to define an advisor’s expertise and competence by one professional certification or designation. As advisor teams form based on specialties, it’s essential that individual advisors focus on their strengths and move beyond the generalist approach that may once have been an industry standard. IMCA’s Elizabeth Piper/Bach explains why one educational plan cannot accommodate all paths and suggests ways advisors can meet that challenge.

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