NU Online News Service, May 16, 11:21 a.m. – Lincoln National Corp., Fort Wayne, Ind., should benefit from hiring as many as 800 financial planners by 2007, according to a new, five-page report from Andrew Kligerman, a securities analyst with Bear Stearns & Company Inc., New York.
Lincoln reported $15 million in losses for its distribution operations in the first quarter.
But Kligerman thinks earnings at one of the distribution arms, Lincoln Financial Distributors division, will improve along with sales.
Another distribution arm, the Lincoln Financial Advisors division, ought to break even within two to three years as a result of increases in financial planner productivity and efforts to hire more planners, Kligerman writes.
“LFA expects to increase its financial planner count from 2,200 to 3,000 within the next three to five years,” Kligerman notes. “In 2001, net agent count increased by 100 and management expects a net increase of 100-150 this year.”