MEDIA MENTIONS
LPL Exits Tops $13B in AUM as
Securities America Grabs Hybrid RIA
Financial Planning
Also covered in InvestmentNews, The DIWire,
Financial Advisor, Financial Advisor IQ, IREI-Real
Assets Advisor, South Florida Business Journal
and ThinkAdvisor.
Patriot Financial Group, a hybrid RIA with $650 million
in total client assets has joined Securities America. The
super OSJ is the ninth major exit from LPL, after the
broker-dealer made several changes to its policies.
Patriot’s advisor council asked O’Donnell and CEO
Mike Tashjian last year to explore options for a new
independent advisory and brokerage firm. After an
11-month due diligence process, the company
chose Securities America from a field of 12.
“Securities America was the one broker-dealer that
would really allow our advisors to maintain their
independence and support our RIA,” said Tashjian.
He also pointed to Securities America’s strength
and stability.
“So many broker-dealers seem to be scrambling just
to stay alive,” said O’Donnell. He and Tashjian wanted
their OSJ to affiliate with a strong, thriving broker-
dealer like Securities America.
Recruiting the Children of Financial Advisors
WealthManagement.com
Advisory firms often use conferences as a recruitment
opportunity, inviting local college students who are
interested in the industry. Securities America added
a unique twist to the oft-used tactic. It focused
efforts on recruiting the sons and daughters of its
existing advisors.
Thirty college juniors and seniors, including the
children of their advisors, attended the firm’s inaugural
Link to the Future program at its June 2018 Connect
National Conference in New Orleans. The response
was overwhelmingly positive, said Janine Wertheim,
president of Securities America Advisors.
7 The STAR | NOVEMBER 2018
Students attended general sessions and
breakout sessions, gaining practical career
advice, shadowing successful advisors and
networking with industry experts.
Wertheim also invited female students to
Securities America’s Super Women’s Summit,
now in its second decade.
“That was one of their favorite things, because
they got to sit next to top women advisors who are
successful in this business and hear up close and
personal how they got into the business,” she said.
Futurity First Sees Rapid Advisor
Increases, Expands Its Footprint
Midlands Business Journal
Futurity First Insurance Group (FFIG) has seen
strong growth recently. Over the long term, the
company’s goal is to continue that strong growth
and make changes to the financial services
distribution space. Amazon.com and the
now-defunct Department of Labor fiduciary
rule have impacted advisors and financial firms.
Clients now expect them to provide access to
the market and the best possible products
and solutions for their specific needs, said
Christopher P. O’Connell, FFIG’s managing
director. That was at the heart of the decision
to join Securities America in August.
O’Connell said advisors need a great broker-dealer
to partner with and provide excellent technology,
which is at the heart of today’s – and tomorrow’s –
client service. Younger advisors and their client base
demand it.
Fellow managing director, Dustin C. Formanack, said
FFIG wanted to find a Midwest or local broker-dealer
that would fit its culture. Securities America is aligned
with FFIG’s pillars of excellent customer service,
technology and product offerings. Both companies
also focus on family, business and senior markets.