First Allied Securities, Inc., a leading independent broker/dealer, has launched a hybrid business model designed to create a cost-, time-, and technologically efficient environment for the dually registered advisor.
First Allied, based in San Diego, says it created this comprehensive solution to “provide advisors with the ability to combine traditional commission-based and fee-based business and construct the most appropriate portfolios for their clients”. The solution gives advisors independence from proprietary products and gives them access to “a universe of investment choices, including world-class investment managers.”
Adam Antoniades, president and CEO of First Allied, explains, “In order to succeed, a hybrid business model must provide the advisor with tools to efficiently manage the issues of integration, compliance and supervision. Our hybrid model is characterized by an open architecture that allows us to continually add capabilities and scalable solutions that give advisors even more choices and flexibility.”
To help its advisors achieve long-term success, First Allied elected to utilize the outsourcing solutions from Pershing LLC and its affiliate, Pershing Advisor Solutions LLC, according to Vere Reynolds-Hale, SVP of First Allied’s Financial Services Group.
“The movement towards dually registered and independent registered investment advisors cannot be ignored by broker/dealer firms,” says Mark Tibergien, CEO of Pershing Advisor Solutions LLC. “We are pleased to have the opportunity to work closely with First Allied and support their hybrid business initiative through Pershing’s RIA Complete offering.
“Our solution, which is a collaboration between Pershing Advisor Solutions and introducing broker/dealer firms that work in conjunction with Pershing, will provide First Allied and their advisors with a broad array of investment solutions, practice management capabilities, and consultative support to help them transition to a new business model and grow their business,” Tibergien explains.
First Allied Securities, Inc. is a wholly-owned subsidiary of Advanced Equities Financial Corp., a diversified financial services organization whose other significant subsidiaries include: Advanced Equities, Inc.; Advanced Equities Asset Management, Inc.; and Advanced Equities Wealth Management, Inc.
Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organizations and independent registered investment advisors who collectively represent approximately five million active investors. It is a BNY Mellon company.