Broker Dealer Change excels at matching you with the best Independent Broker Dealer to best meet your individual needs.
C hange is good, especially when it is for the better. With a vast network and extensive experience in the broker industry, Broker Dealer Change excels in the consultative process that not only identifies your needs, but also matches you with an Independent Broker Dealer that best fits the needs of your practice and personal profile.
Broker Dealer Change is a Nationwide Selective Financial Advisor Recruiting Firm.
Broker Dealer Change is a national financial advisor recruiting firm, that specializes in the selective placement of financial advisors.
Broker Dealer Change Offers a Comprehensive Consulting Approach
Broker Dealer Change uses an exclusive consultative process that pinpoints your personal needs. It is designed to also provide the best selection of top independent Broker Dealers for your personality and practice.
Broker Dealer Change was Founded to Meet the Unique Needs of Financial Advisors
Broker Dealer Change was founded to meet the unique and individual needs of financial advisors who are considering a move to an independent Broker Dealer. Broker Dealer Change's consultants, work as the advisor's "agent" to assist them in finding the best firm to meet their professional requirements. Click Here for Additional Information.
The firms that we represent pay our fee, please contact us for a complimentary discussion.
Financial Advisor Placement Services
We represent our financial advisors clients, as their agent, to assist them in finding the optimum independent broker dealer firm to best meet their professional and personal requirments.
We will help you select the best Broker Dealer for your practice by identifying: the appropriate size, culture, product set, clearing platform, technology and back office support for your practice. We will then negotiate the best deal possible for you, as we have leverage with the firms that we represent.
Exclusively Serving Financial Advisors
Our sole focus is on placing financial advisor clients with a top independent Broker Dealer. We do not get involved with recruiting people to other industries or positions. We take our role very seriously, and believe providing financial advice is very important, so we pride ourselves in exclusively serving this market segment.
Nationwide Network of Independent Broker Dealers
We will find you a top Independent Broker Dealer that best matches your profile and needs of your practice. Broker Dealer Change helps financial advisors sift through all of the options and questions involved in switching firms. We understand the clearing platforms, product offerings and each firm's philosophy, so that we can find the best broker dealer to suit your needs.
Broker Dealer Change Process
Broker Dealer Change works with and has developed relationships with independent, regional and national Broker Dealers nationwide. We bring a vast network of top independent Broker Dealers built with over 30 years of industry experience and expertise.
We work with you every step of the way as your "agent" reviewing each firm's information, schedule calls and meetings, and provide advice on which offers may be more attractive.
Our Initial Conversation
Our initial conversation will have one goal - that is to learn about your individual practice, your clients, and the requirements you are seeking in a new Broker Dealer. We then, create a list of firms for your consideration. Once you have identified the firms you are most interested in, we will then have initial, confidential conversations with these firms to see if there may be a good fit. Then next step is to arrange phone conversations with these Broker Dealers. We then narrow the list down to a hand full of firms and set up face to face meetings either at the home office or near the candidate's location, whatever is most convenient for the candidate. With the firms that are of most interest, we will work with the firms to get competitive offers together and present them to the candidate.
We Work With You Every Step of the Way
At Broker Dealer Change, we will work with you every step of the way as your exclusive "agent" to work through the firm information, schedule calls and meetings, and provide advice on which offers may be more attractive. Whenever possible we would like to attend the meetings with you so that we can represent you as best as possible. We will do a "pros and cons" analysis or help you spreadsheet the value that each firm can bring to your practice.
Once the decision is made on which firm to go with, we get you engaged with that firm's transition team, to ensure a smooth transition. Our goal is to make this transition as painless as possible. In some cases, the Broker Dealer will place people in your office to assist you in moving your client accounts.
Independent Broker Dealers Special Report 2014
4/27/14 Independent Broker Dealers Special Report for 2014...Read more »
Bruce Kelly wrote a Specail Report for Investment News about Independent Broker Dealers: "Double-digit growth in 2013, sets Independent Broker Dealers up for a repeat in 2014. He reports: "These are heady times for the independent broker dealer industry, which came roaring back to life in 2013 and is poised for another strong year, despite the broad market's recent volatility." He continues: "Overall, 2013 saw a return to double-digit revenue growth on average for the largest 25 independent broker-dealers, after a weak 2012. Collectively, the largest 25 Independent Broker Dealers recorded a.. . ."Read more »
Article Written by Bruce Kelly, Investment News, April 27, 2014
Is Acquisition of National Holdings Corporation Imminent?
12/3/13 Independent Broker Dealer microcap looks like a bargain...Read more »
Bruce Kelly recently reported in Investment News: "Yet another publicly traded independent broker dealer has recently seen an enormous increase in the trading of its shares and heady gains for the year in its stock price, leading some industry observers to wonder if another acquisition is imminent. He writes, "National Holdings Corporation (NHLD), the parent of two independent broker dealers, saw more than 3 million shares traded November 27, at a range of 48 cents a share to 60 cents a share . ."Read more »
Article Written by Bruce Kelly, Investment News, December 3, 2013
National Planning Corporation, Slammed with $6.2M Arbitration Award
11/26/13 Independent Broker Dealer & former broker 'breached fiduciary duty, were negligent,' complaint says.,.Read more »
Bruce Kelly reported in Investment News: "National Planning Corporation, a leading independent broker dealer, was ordered to pay a $6.2 million arbitration award to two Minnesota investors in a dispute that focused on real estate investments.
The investors in the matter, Ronnie and Stacy Erickson and various trusts on their behalf, alleged that National Planning Corporation and a former broker, Christopher R. Olson, breached their fiduciary duty, were negligent, made misrepresentations and violated other industry rules, according to the award . . ."Read more »
Article Written by Bruce Kelly, Investment News, November 26, 2013
Financial Services Institute, adds two Independent Broker Dealer, Executives to Board
11/6/13The move gives executive from Raymond James & Cambridge new voices on the industries regulatory issues..Read more »
Trevor Hunnicutt reported in Investment News: "Scott Curtis was among two new directors named to the Financial Services Institute's board.One of the biggest cheerleaders for independent broker-dealers in Washington is adding two senior executives from the industry to its board. He states that "Starting January 1, 2014, the Financial Services Institute's 16-member board will include Scott Curtis, president of Raymond James Financial Services Inc., and Amy Webber, president . . . "Read more »
Article Written by Trevor Hunnicutt, Investment News, November 6, 2013
LPL Financial is hiking the cost of E&O insurance per rep by $200 in 2014
11/6/13 Offices of supervisory jurisdictions also face $500 fee per branch for audits...Read more »
Bruce Kelly recently reported in Investment News: "Rounding out a series of fee increase announcements, LPL Financial LLC has informed its registered representatives and financial advisers that it is increasing the cost of errors and omissions insurance per rep next year by $200, for an annual charge of $3,200, according to two LPL advisers.
Managers of large offices known as offices of supervisory jurisdiction also face a new fee. Next year, larger OSJs will pay $500 per branch for the LPL home office to perform mandatory audits of each branch operating under that manager. "Read more »
Article Written by Bruce Kelly, Investment News, November 6, 2013
Is Investors Capital in play?
9/9/13 Spike in trading and share price fuel speculation that Broker Dealer parent is acquisition target...Read more »
Bruce Kelly for Investment News reports: "Heavy trading and a run-up in the share price of Investors Capital Holdings Ltd., the parent company of independent broker-dealer Investors Capital Corp., is fueling speculation that the firm has become an acquisition target.
Last Thursday saw an intense spike in its trading volume, with 434,100 shares changing hands and the price of the stock briefly reaching $8.90 per share, its 52-week high. "Read more »
Article Written by Bruce Kelly, Investment News, September 9, 2013
Broker Dealers Reining in Sales of Alternatives
5/16/13 Revising sales policies and rejiggering suitable allocations for clients; seniors a concern...Read more »
Bruce Kelly for Investment News reports: "Amid increasing pressure from regulators, broker-dealers are making changes to how they sell alternative investments. VSR Financial Services Inc., Berthel Fisher & Co. Financial Services Inc. and the Cetera Financial Group Inc., which has four independent-contractor broker-dealers under its umbrella, this year have revised policies or added new guidelines and procedures for the sale of certain alternatives, such as nontraded real estate investment trusts. In some cases, the moves could decrease the amount of alternative securities... "Read more »
Article Written by Bruce Kelly, Investment News, May 16, 2013
Independent Broker Dealers: A Sound Choice for the Financial Advisor
The broker dealer consolidation continues with Charles Schwab, the owner of Brokersxpress, disbanding them by Mid August, 2012.
There has been much noise around Independent Broker Dealers (IBDs). The Small Independent Broker Dealers (SIBDs), who have less than 500 advisors, have received much of the negative press. Some SIBDs shut down in 2011 and 2012 resulting from the sale of private placements, REITs, and TICs that had gone south: Medical Capital, Provident Royalties, and DBSI, Inc. created sanctions and fines causing about 50 IBDs to go out of business as reported by the Investment News. This has caused
financial advisors to become especially wary of all of the Independent Broker Dealers, especially the SIBDs, as the public has "thrown the baby out with the bathwater." We recently spoke to a team of advisors who decided to put their move to an independent broker dealer on hold, due to the recent "stability "concerns they had heard about smaller broker dealers.
The Truth Behind the Numbers
The decrease in number of Independent Broker Dealers follows suit with the decrease in the number of financial advisors. There were 79,802 independent financial advisors in 2011, down almost 14% from 92,727 in 2010. If you count dually registered advisors then the decrease is only 11% from 2010 to 2011. This compares to all financial advisors that decreased from Read more »
Article Written by Shawn K. Smith.
About Broker Dealer Change
Broker Dealer Change was founded to provide solutions to financial advisors who are considering a move to another firm. The financial brokerage industry has undergone significant changes in the past few years and there are many advisors who need our services to help them find a firm that meets their practice's requirements.
We represent regional and independent broker dealer firms. The process of finding a new firm is time consuming. We understand and have developed a proven process to efficiently address respective value propositions, cultures, products, platforms, technology, and transition processes to address each of your questions and needs.
Schedule A Personal Consultation
We represent our financial advisors clients, as their agent, to assist them in finding the optimum independent broker dealer firm to best meet their professional and personal requirements.
T he firms that we represent pay our fee, please contact us for a complimentary discussion.
A Broker Dealer Change, consultant will contact you to schedule your personalized consultation.
Before you move to another firm, you should perform due diligence on the Broker Dealers that you are considering. We will help you to determine which firm is the best fit for your practice by finding the answers to the following questions:
- How long has the Broker Dealer been in business?
- What type of business does it specialize in?
- What are the breakdown of the Broker Dealer's expenses?
- What is the complaint/broker ratio?
- How many advisors does do they have?
- Are they financially sound?
- What is their staff to advisor ratio?
- What is their excess net capital?
- Is their excess net capital low?
- Are there any pending arbitration suits looming?
- Where is the firm located?
- What are the back office hours of operation?
- What is the Philosophy of the firm?
- What are the Broker Dealer's strengths and weaknesses?
- What is the profile of the typical advisor at that Broker Dealer?
- How good is their technology?
- What clearing options do they have?
- What is the reputation of its clearing firm?
- What is the breakdown of all of their expenses?
- Do they have a commission "grid" or do they customize their comp packages?
- Do they offer transition assistance, if so, how much?