Advisor Group, which includes three independent broker-dealers and 4,663 FAs, introduced a new advertising campaign on Monday focusing on the open architecture of its technology, portfolio models, practice management and other platforms.
“Open architecture is a term that has lost much of its meaning in the broker-dealer industry,” said Larry Roth (left), president and CEO of Advisor Group, in a press release. “Many independent broker-dealer firms claim to be ‘open’ but then place significant limitations on what they allow their affiliated advisors to do.”
According to Roth, Advisor Group offers FAs open product access, hybrid compensation models, multi-custodial solutions, access to third-party money managers and platforms, and the support of both independent and corporate RIAs.
“Advisors who join one of our broker-dealers can set up and run their practice in a way that is best for them and their clients while at the same time benefiting from the financial, technological and back-office strength and support that only a large network like ours can provide,” he added.
With the growth of IBDs over the past few years, firms must find creative ways to differentiate themselves in a highly competitive and expensive field, executives say.
In early March, Roth and the three heads of the Advisor Group IBDs described plans to launch the campaign in an interview that took place during the group’s annual conference for women advisors in San Antonio. “We must continue to be innovative, to reinvent ourselves and to speak to our independent-business model,” shared Royal Alliance president Art Tambaro at the time.
In addition to the ads, advisors can go to a new Advisor Group website for more details on the three IBDs' open architecture.
"We are using this campaign to redefine what 'open architecture' means, and then look to own the concept by letting advisors know that they can only get it at one of our three firms," Roth shared.
This campaign will run in conjunction with the FSC “Defining Independence” campaign, the Royal Alliance “You’ve Arrived” campaign and the SagePoint “New Direction” campaign, according to Advisor Group.