Monday, August 31, 2009


Chosen: 2009 Broker/Dealers of the Year

These are interesting times. If you think you have it tough as an independent advisor, imagine for a moment that you are running an independent broker/dealer. Sure, the wirehouse boogeyman is off in the corner whimpering, and some fairly high-profile B/D networks are having their own problems holding on to reps who are fed up with uncertainty and looking to hang their shingles in a more secure location. But you’re also suffering from a steep decline in revenue prompted by the steep decline in the markets in 2008. Moreover, if you’ve heeded the siren call of fees over the past few years, you’re fee-based revenue is also down. Combine that with the double specter of having a fiduciary standard replace your suitability standard and an Obama Administration that has questioned the independent contractor status by which the independent B/D world survives, and you’re cooking up a distatesful stew...

Investment Advisor: Chosen: 2009 Broker/Dealers of the Year

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