RESOURCE DiRECTORY - Financial Planning

A SUPPLEMENT TO
Seeds
of
Change
New Ideas
Make Transitioning easier
produced by sourcemedia marketing solutions group

Publisher’s Letter
Dear Reader,
Ch-ch-ch-Changes!
What feelings come to mind when you think of the word change? We asked this
question to a number of advisors at a recent industry conference. Some responded
that they view change as disruptive and that it causes discomfort and even pain.
Others said that in times of uncertainty, change just increases the fear of the
unknown. Clearly there were a few “bears” in the room! A few other advisors stated
that change brings new opportunities, a chance for rebirth and a fresh start. I like
that approach.
We often refer to dealing with change as “coping with change.” If the only constant
in our world is change, why haven’t we figured out how to better accept change?
The majority of us resist change because we are comfortable and secure in our
world as we know it. But if change is an inevitable reality of our life (and it is), then
we’d better be prepared to respond when we are faced with the unexpected. So
when change comes knocking on your door, welcome, accept and embrace it.
Sometimes change finds us and sometimes we pursue it. Have you been
considering a change recently? Are you looking to improve your business model,
change broker-dealers, or merge your practice? The good news is that you have
help. Transition teams have come a long way to help make the process easier.
And we’re here to help you too. For the past 27 years, Financial Planning has been
ranking the Top 50 Independent Broker-Dealers in our June FP50 issue. For 15
of those years, we have also published a more expanded ranking in our annual
Broker-Dealer Guide, which you may be reading right now in print, online
at www.Financial-Planning.com or perhaps even on your iPad.
It is an exciting time for our industry and the financial planning profession has
a bright future. More and more investors will be seeking your professional advice
to help them realize their financial goals and dreams. And as you will see in the
tables that follow, annual revenue for the Top 5 Broker-Dealers grew 11.7% and of
the Top 50 firms, no less than 60% reported double-digit revenue growth. Is your
firm experiencing double-digit growth? What better time to do a self-assessment
of your business and see if it might be time for a change?
We wish you much continued success for your business and with helping your
clients navigate through their own financial Ch-ch-ch-Changes!
Sincerely,
Tim Whiting
Group Publisher

10
Minimizing The PAIN
Of TrANsITIONINg TO A New B-D
17 GROW THROUGH
STRATEGIC
ALLIANCES
Up+Comers
26Insights
Into Their Success
Contents

Contents
3 Publisher’s Letter
2012 Survey Data
33 Total Revenues
34 Payout Grids
35 Services & Fees
36 Reps & Production
38 Commission-Based Products
40 Fee-Based Products
42 Clients & Accounts
43 Corporate Staff
44 Smaller Firms
45 Networks
46 Top 10 Lists
47 Explanatory Notes
48 Resource Directory
senior Project Manager
Julia Micallef
art Director
Jack Mitton
contributors
David Adler, Jeanne Lee
grouP Publisher
Tim Whiting
(212) 803-8579
northeast sales Manager
Christina Roccos
(212) 803-8529
Broker-Dealer Guide / SourceMedia Marketing Solutions Group
southeast sales Manager
Robin Riley
(212) 803-8531
MiDWest sales Manager
Vicki Hamilton
(312) 833-7613
West region sales Manager
Gena Haas
(408) 836-9590
classifieD aDvertising Manager
Sheila Sullivan-Alyskewyz
(212) 803-8548
aDvertising sales assistant
Betty Lai
(212) 803-8586
rePrint sales Director
Godfrey Livermore
(888) 909-6366
MarKeting Manager
Susan Zeqiri
(212) 803-8788
2
ceo
Douglas J. Manoni
cfo
Rebecca Knoop
evP & Managing Director, banKing &
caPital MarKets
Karl Elken
evP & Managing Director, Professional
services & technologY grouPs
Bruce Morris
evP & chief content officer
David Longobardi
evP, MarKeting solutions
Adam Reinebach
svP, conferences
John DelMauro
svP, hr & office ManageMent
Ying Wong
vP, finance
Jamie Brokowsky

maximize
Point your business in a new direction. When you’re ready for a broker-dealer focused on your vision of success, take
a look at SagePoint Financial. We put 40 years of experience into solutions that will work for you today. Whether you’re just starting your
climb to the top or you’re thinking hard about succession planning, we can help you make the most of your time. And we’ll give you both the
autonomy and support you need, through our no-limits-to-your-growth All Ways Open ArchitectureSM work for you today. Whether you’re just starting your
planning, we can help you make the most of your time. And we’ll give you both the
our-growth All Ways Open Architecture . SM .
For more information, call 866-462-4432, 32,
or to have a recruiter contact you, scan the e barcode with our smart phone.
sagepointfi nancial.com
SagePoint Financial is a registered broker-dealer and registered investment ment advisor, member FINRA and SIPC.
SagePoint Financial | 2800 N. Central Ave., Suite 2100, Phoenix, AZ 85004 | 866-462-4432
2011-005438A
YOUR EARNING
POTENTIAL
PROUDLY FUELED BY
SM
all ways open
ARCHITECTURE

Minimizing
The
Broker-Dealer Guide / SourceMedia Marketing Services Group
4

By David Adler
Pain
of TransiTioning To a new B-D
Transitioning to a new broker-dealer is not easy. There is no way of getting
around this painful fact, but there is still a huge difference between a successful
transition and one that is less so. Advisors who have made the leap, as well as
teams of broker-dealers that specialize in transitions, have developed a collective
body of wisdom about how to make the experience comparatively painless.
5 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

“One comment I often make to advisors is that this is
going to be hard and anyone who says it isn’t going to be a
lot of work isn’t shooting straight with you,” says Bill Van
Law of Raymond James. The pain has to be worth the
payoff—for both advisor and client—which is why current
best practices and success stories in this challenging
area can be so useful in assessing a potential move. New
insights include not just tips for a smooth move but also
ways in which advisors can grow their businesses via the
transition process itself.
Know Why You Are Transitioning—
And Where You Are Moving To
The first step for any successful transition is self-examination
by planners. They need to identify what they are
seeking post-transition at a new broker-dealer in terms of
investment offerings, technology, corporate support and
overall “fit.” This process can help inform the transition
itself, making it smoother. “You have to make sure the
bridge you are attempting to cross takes you somewhere
that makes sense,” says Manish Dave, vice president,
experienced advisor recruiting at Ameriprise Financial.
Transitioning, to continue Dave’s metaphor, is the process
of crossing the bridge, which, as Dave is the first to admit, is
not easy. The goal of transition experts such as Dave and his
team is to help advisors who have decided to undertake the
journey to get their practices up and running and productive
as quickly as possible.
Dave’s paradigm for transitioning advisors is simple yet
profound: transfer, deepen, grow. The first goal of his team
is getting the book of business over. Advisors can then
deepen their relationships and grow their business with the
help of the new broker-dealer, as well as contacts provided
by the transition process itself. On a more brass-tacks level,
Dave’s advice to advisors is to be prepared—for anything.
“There is going to be a surprise, so go into the process with
your knees bent, ready to move quickly,” he says.
Raymond James’ Van Law agrees that a successful transition
begins with questions for the advisor, including how
they are going to answer questions from their clients. “Are
you going to a firm that resonates with clients? Can you
explain what is in the transition for them?,” he asks.
These insights resonate with advisors who have recently
transitioned. Deborah Ann Stauring, chief executive officer
of Winthrop Financial in Buffalo, N.Y., advises that when
it comes to transitions, advisors need to bite the bullet and
take the time to find the broker-dealer with the right feel
and objectives. “No matter how nice everybody is, transi-
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 6
tioning is brutal, so it is important to look up front.” After
a careful search, Stauring recently underwent her own
successful move to Raymond James, largely because the
firm shared her client-focused vision. She lost virtually no
clients during the move and Raymond James’ transition
support made the move relatively painless. She says, “It
was a good experience and having clients decide to move
with you speaks to a high level of trust.”
David Lowe, an advisor at The Lowe/Pfaff Group in
Miamsburg, Ohio, who recently moved to Amerprise,
agrees that motivation—as well as preparation—is key.
“We knew what we wanted to do, and we also knew what
we needed to do to move,” says Lowe. Once he identified
the right broker-dealer for his practice, his biggest
practical concern about transitioning was making sure all
of his clients’ assets were portable. Ameriprise’s transition
team stepped in to help both on-site and at headquarters.
“ In terms of portability,
having someone from
Amerprise who knew what
sort of account structure
we had was key to our
positive move.”
David Lowe
The Lowe/Pfaff Group
Says Lowe, “In terms of portability, having someone from
Amerprise who knew what sort of account structure we
had was key to our positive move.”
The need for preparation is a recurring theme in transition
success. “Anyone who is not prepared is in for a bad
transition. Follow the Boy Scouts motto: Be prepared,”
says Edward Bayarski, president of Strategic Wealth
Planning of Woodcliff Lake, N.J. Bayarksi, who recently
moved to Commonwealth Financial Network, argues that
part of preparation is getting to really know the senior
management and philosophy of the new broker-dealer.

A good fit is obviously crucial, but specifically in terms
of transitioning, he looks to see if the broker-dealer has a
specialist team assigned to help with this process, which
is a good sign. “Having a dedicated transition team is so
critical” he notes. This includes staff at the home office,
and possibly on-site at the advisor’s office. One practical
suggestion, he recommends, is for the advisor to get their
senior administrative person involved in the transition as
early as possible, and have them study the new administrative
platform. For Bayarski, all these lessons came
together to make his recent move to Commonwealth
relatively painless, or at least as painless as humanly possible:
“I’ve moved several times before but our experience
of transitioning to Commonwealth was truly fantastic,”
he says.
Broker-Dealers Rise To The Challenge
Broker-dealers are well aware of the potential pain in
transitioning and the need to develop further solutions
to attract top advisors. Given these competitive pressures,
they are continually making improvements in this area.
Their approaches grow out of firm-specific philosophies
toward transitioning.
For example, AXA Advisors operates according to the
belief that all transitions must be customized. “A customized
approach is core to our philosophy. We don’t have
a one-size-fits-all model,” says Frank Massa, chief oper-
“ We like their
profitability and
stability, and
the actual move
was smooth.”
Rick Kent
Merit Financial Advisors
“ Communication,
partnership and
customization are key to
meeting advisors’ needs
for a successful transition.”
Frank Massa
AXA Advisors
ating officer at AXA Advisors. AXA’s transition process
starts with fact-finding and conversations between the
advisor and the transition team. The team’s focus is on
helping the advisor transfer their book of business and new
training. They must also understand the advisor’s business.
“Every situation is different,” explains Massa. For example,
the advisor may be using a particular computer system,
software package or investment strategy. Fact-finding
helps map out the details so that AXA can be certain to
provide the services the advisor needs.
Even with all this support Massa points to a general rule
for transitioning advisors: “They need to embrace change,”
he says. They are entering a new culture, with new paperwork
and a new home office they need to acclimate to. Advisors
who have done their homework are ready for this. And broker-dealers
who do their homework on advisors are ready
to support them and make them feel welcome. Says Massa,
“Communication, partnership and customization are key
to meeting advisors’ needs for a successful transition.”
Technology Lends A Hand
Technology, of course, is crucial to making transitions
go smoothly, and so broker-dealers are very focused on it.
“The best transitions occur when the broker-dealer throws
everything they have at making it successful, namely technological
resources, as well as financial resources and HR
support,” explains Andrew Daniels, managing principal,
field development at Commonwealth Financial Network.
In Commonwealth’s case, this involves his/her hands-on
7 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

technology training with the advisor and their team. Dedicated
transition team members also help advisors get all
their paperwork in order throughout the actual transition.
This paperwork and technological support occurs in the
larger context of philosophy that the goal of the transition
is to allow the advisor to fully leverage the broker-dealer’s
resources to grow. “As opposed to saying ‘you are here,
now muddle through,’ I want to give them the resources
to make them stronger, which is a win-win,” says Daniels.
Following the transition period, Daniels’ team interviews
the advisor about what worked and what didn’t
work. “We shape processes by what we learn,” says Daniels.
One consistent finding is that advisors report working with
the transition team itself helped cement personal relationships
with their new broker-dealer. Daniels explains further,
“Advisors state that they find they aren’t just joining a firm,
they are also joining a community.”
“ My retention rate
during my recent
transition was actually
in excess of 100%.
We actually grew
during the move.”
Jeffrey West
Financial Compass Group
Advisors on the receiving side of these technological
advances say it is making transitioning significantly easier
than in the past. Rick Kent, principal, Merit Financial
Advisors of Alpharetta, Ga., who transitioned to LPL
in 2010, says, “We had to transfer 1,200 accounts out. I
remember what it was like filling out all the paperwork
from a move I made 12 years earlier. But because technol-
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 8
ogy has advanced so much since then, the actual move was
a less daunting task than I anticipated.”
One reason Kent transitioned to LPL was because of its
technology offerings. “They have so much that we didn’t
have access to before,” says Kent. His broader motivation
was to move to a broker-dealer that had the resources to
support sustained growth and help him expand his acquisitions-oriented
business, all of which he found at LPL.
“We like their profitability and stability, and the actual
move was smooth,” he says.
Profiting During The Move
Long-term growth of a practice is always one goal in
transitioning, but some advisors find it possible to add
assets during the actual transition process itself. “My
retention rate during my recent transition was actually
in excess of 100%. We actually grew during the move,”
says Jeffrey West, founding principal of the Financial
Compass Group based in of Wellesley, Mass. He recently
transitioned to AXA Advisors as his broker-dealer.
As part of the transition, West reached out to all of his
clients to discuss the move, which created the opening for
a rich and honest dialogue. “It was a great opportunity to
learn more about them. I asked them questions about their
net worth and their future plans,” he says. The result of this
dialogue was that clients turned even more assets over to
him. Every single one followed him to AXA Advisors, even
the most “challenging” ones. In terms of the transition experience,
West says, “My clients are happy and I am happy.
The pie just got bigger.”
In conclusion, transitioning may present a difficult
challenge up front, but in retrospect, advisors who have
successfully transitioned feel the move was well worth the
effort, particularly as they picked up new clients along the
way or positioned themselves for further growth. New
approaches and new technologies have made transitioning
less painful than in the past. Advisors still need to pay
close attention to the legal details in moving their books of
business, as well as the technicalities involved. Overall Van
Law of Raymond James, says, “Advisors still really need to
put in the time on the front end. If they do this and they
are coupled with a good transition team, they will find
their transition to be an immense success.” n
David Adler is a contributor to Financial Planning. He wrote the book Snap Judgment
(Financial Times Press) about behavioral economics and is the producer of the
PBS/NOVA documentary “Mind Over Money,” also about behavioral economics.

Just because you’re with an independent
broker-dealer doesn’t mean you’re independent.
RE-IMAGINE
INDEPENDENCE.
Being a truly independent advisor means having real choices
that matter to you. It means being able to fi nd the ideal balance
between autonomy and support. And it means being able to grow
your business your way with our All Ways Open Architecture SM .
Our advisors come here for the tools and rewards they expect
from a leader. They stay because being independent at FSC
comes with a team invested in your success.
JOINFSC.COM | 800-372-5646
To have a recruiter contact you,
scan the barcode with your smart phone.
FSC Securities Corporation is a registered broker-dealer and
registered investment advisor, member FINRA and SIPC.
2300 Windy Ridge Parkway, Suite 1100, Atlanta, Georgia 30339 | 800-372-5646
2012-009571A
PROUDLY FUELED BY
SM
all ways open
ARCHITECTURE

grow THroUgH
sTraTegiC
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 10
aLLianCes
By Jeanne Lee
Three structures for relationships
with external professionals

w
hat financial advisor hasn’t tried to gain referrals by
cultivating relationships with centers of influence, such
as accountants and attorneys? Some succeed; many
become discouraged. The thing is, CPAs, JDs and other
professionals are frankly jaded from being too often
solicited by advisors with the same idea. There’s a right
and a wrong way to approach such relationships. “If
you’re just in it to get a referral and then you move on,
it’s going to fail,” says Trevor Emery of Wealth Strategy
Partners, the subject of a case study below. Partnerships
with external professionals work when the focus is truly
on both sides serving the client—referrals will flow naturally
as a byproduct. Read on for three stories that show
how the right partnership benefits everyone involved.
CaSe STudy One
Perfect-Fit Partnership
A deep alliance with an investment bank helped this
group of four ex-Merrill Lynch employees go independent
and grow their practice, Monument Wealth Management
of the Washington, D.C., metro area, to approximately
$250 million in client assets in just four years. What drove
the relationship’s success? The investment bank was focused
on the exact same niche: Business owners near a sale of
their companies. The referrals flow in both directions, and
no compensation or revenue sharing is involved.
Tim Lee, managing director at Monument, and his
partners were managing assets at the large wirehouse
back in 2007, when the stock market first showed signs
of cracking. The group of CPAs and CFPs, reading the
warning signs in their firm’s financial results, started
exploring their options—first looking at other wirehouses,
then deciding to pursue the independent channel. By
the time Bear Stearns collapsed and Wall Street truly
faltered, they had made headway on their business
plan, office search and tech buildout. They chose LPL
Financial as their broker-dealer.
In May of 2008, the wealth management team started
to transition their book of business. Going down the
list of relationships they hoped to keep, they realized
that it was comprised of many entrepreneurs who were
either preparing for, or had a liquidity event such as
the sale of a company. “This led us to a niche that was
fun for us, and would become our marketing strategy,”
remembers Lee.
Now business owners themselves understood that their
clients—many of them in the government contract and
technology space—have special planning needs that are
underserved by the big players. Around this time, they were
introduced to the investment bank, Kipps DeSanto, which
specializes in companies in the $20 million to $500 million
range. The seniors at the bank had come from a parallel background,
having left a large firm to form their own business, and
primarily working with entrepreneurs. “We are both tightly
focused on that niche,” says Lee.
When the bankers have clients who are nearing a
sale, they recommend bringing in the financial planners.
Likewise, Monument introduces its clients to Kipps
DeSanto when they approach the stage of planning
a deal. “We’ve known a lot of CPAs, attorneys and
investment bankers,” says Lee, adding, “The best relationships
are a two-way street.”
Partnerships with
external professionals
work when the focus
is truly on both sides
serving the client—
referrals will flow
naturally as a
byproduct.
11 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

How much better
would the client be
served if the tax
professional and
financial advisor
sat in meetings
together?
CaSe STudy TWO
Revenue-Sharing Partnership
Sharing revenue with external professionals can be
tricky, but combined with a view toward enhancing
service for clients, it can be a winning strategy.
Robert Esterman, an advisor with Ameriprise Financial
Services in Marlton, N.J., had a comfortable client base he’d
gotten mostly through acquiring two practices a decade
earlier. But for years, significant growth eluded him. “I was
a mediocre producer. I would bring on four to six new
clients per year,” he admits. Prospecting through CPAs,
he found many to be “bombarded with requests from
financial advisors,” or reluctant to do more than pass on
the occasional business card.
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 12
But a new approach led to a dramatic change of fortune.
It started with a seminar Esterman attended a year
and a half ago, on the topic of aiding CPAs you work with
to obtain their securities and life insurances licenses, so
they can legally structure revenue-sharing arrangements.
This gave him a workable value proposition for potential
partners, but something was still missing.
Reflecting on the train back home, inspiration struck
Esterman “like a bolt of lightening.” He recognized
that most accountants have an arm’s length relationship
with financial advisors, at best. “They may give out
your card, but in most cases they have not done due
diligence on you, and they do not promote you.” At the
same time, many advisors fail to consider their clients’
full tax picture, and may not even ask to see their tax
returns. How much better would the client be served
if the tax professional and financial advisor sat in
meetings together?
Esterman was motivated to restructure his entire
practice to focus on external partnerships, inviting
CPAs to work together in an ongoing way. In the first
three months, he started relationships with three CPAs.
To date, he has established seven alliances. The CPAs
are compensated for their participation, either through
a percentage of revenue (if they have their licenses in
place), or paid an hourly fee as a consultant, based upon
what they normally charge in their practice. Clients, of
course, are told of the payment arrangements up front.
The response has been tremendously positive from
all parties: “Now we can talk about issues such as the
clients’ investments, the tax ramifications, my recommendations
and all kinds of things.”
The payoff: Esterman brought on 50 new clients last
year and expects to add 60 to 70 more this year. “I really
love this approach because any advisor can do the same
thing,” he says.

CaSe STudy Three
External Partner Compensated by
the Broker-Dealer
Trevor Emery (mentioned earlier) and Micah Lang,
managing directors at Wealth Strategy Partners in
Denver, found just the right strategic alliance with a
well-established local accounting firm. In the past five
years, the relationship has yielded a steady stream of
referrals that helped them build their practice “from a
start-up with an idea to more than $60 million, growing
at an average rate of 23.2%,” says Emery.
The two were previously employees of Smith Barney,
when they struck up a friendship with a managing
partner at the accounting firm Anton Collins Mitchell,
through their shared interest in the Colorado, “I Have A
Dream Foundation.” The accounting firm broached the
idea of forming a relationship through Smith Barney, but
working with the large broker-dealer proved to be too
restrictive. Indeed, two previous efforts by the accounting
firm to partner with financial advisors had failed, due to
mismatched expectations and differing cultures. Emery
saw the situation as an opportunity and a challenge. “It
was a catalyst for our entrepreneurial move—something
Micah and I had each held as a goal,” he says.
The advisors brought their value proposition to Anton
Collins Mitchell (which also interviewed around eight
other firms). They would open their own independent
practice, with local ownership and control of expenses,
yet they would affiliate with Wells Fargo Advisors
Financial Network (then Wachovia), with its national
scope and capability. The partners at the accounting firm
were skeptical at first, but agreed to try out the relationship.
Wealth Strategy Partners opened an office directly
across the hall, offering investment management, asset
allocation, estate planning and other services. The accountants
receive a cut of revenue from referrals, but it
is not paid by Wealth Strategy Partners. “Wells Fargo
Advisors has a separate contract with Anton Collins
Mitchell, so any client the accounting firm refers to us
is segregated, and a percentage of that revenue is paid
directly to them by Wells Fargo,” says Emery.
Clients are educated about the arrangement. “When
a client is referred to us, we explain that we do not work
for Wells Fargo, and we encourage them to interview
other financial advisors,” says Emery. “Usually, they
come back to us citing the fact that they’ve had a longstanding
relationship with this CPA, which makes us an
Clients can opt to
give permission
for the CPAs to
share information
with the financial
advisors.
attractive candidate to manage their money. We always
tell them they can sever the relationship at any time.”
He estimates that just 5% of the referred clients have
an issue with the relationship, while client retention, to
date, has been north of 90%.
Clients can opt to give permission for the CPAs to
share information with the financial advisors. “This is a
very sensitive issue, but once the client signs the documents,
it directly benefits them. I can walk across the
hall and have a five-minute conversation, and find out
what I need to be prepared for,” he says. Clients are
encouraged to invite their CPA to quarterly meetings,
to stay informed of anything on the horizon such as a
taxable gain or sale of a business. The relationship has
grown stronger over time. “Long-term strategic partnerships
are not built in the beginning of the relationship,
but over time through the right culture match,
accountability between the two firms and always doing
what is right for the client,” says Emery. n
Jeanne Lee has been writing about business, healthcare and personal finance
for more than 15 years. She has written about topics such as “Selling Your
Small Business in a Recession,” “How Financial Planners Should Prepare
for More Layoffs,” “How Obama’s Tax Plan Will Affect Wealthy Clients” and
“How Advisors Can Rebuild Consumer Trust.” Her writing has appeared in
Fortune, Money, Fortune Small Business, CBS MoneyWatch.com, On Wall Street
and Financial Planning, among others.
13 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

Up+Comers
There are many paths to success. The up-and-comers profiled below
are all highly successful, defined narrowly as having recently achieved explosive growth in
assets. But this growth is itself reflective of broad—and early—success in terms of client
relationships, communications, practice management, marketing and finally planning
philosophy. These up-and-comers don’t take their achievements for granted—and they are
all willing to share their secrets of how they got so quickly to where they are today.
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 14
By DavID aDler
Insights
Into Their Success

“ Young people
should position
themselves to
learn from older
mentors.”
Matthew Somberg
Gottfried & Somberg Wealth Management
Find A Mentor
“The easiest way to become a successful planner is to have
high-net-worth parents with a lot of rich friends whom you
can make your clients,” jokes Matthew Somberg, a principal
and founder of Gottfried & Somberg Wealth Management,
with offices in central Connecticut. Though this may
not necessarily be Somberg’s personal background, he is still
an undeniably successful up-and-comer. One of Commonwealth
Financial Network’s most successful financial advisors,
Somberg, at the relatively young age of 34, has $160
million in assets under management, all of it fee based.
Somberg began in the business at age 22, only a year
out of college. He was offered a position working for a rep
at an insurance broker-dealer and Somberg’s job was to
give financial planning seminars to public school teachers.
“I was a 22-year-old talking about retirement planning. It
was sink or swim,” he says. Somberg swam: He carved out
the teacher and other public employee market as his niche,
in addition to honing his expertise in retirement income
planning. Often he comes across people who are on the
“retirement one-yard line,” as he puts it, who are days away
from retirement but with virtually no planning and few
assets. In this worst-case scenario, Somberg still wants to
be able to help, and provides hourly consulting services.
Consulting clients often ultimately become referral sources.
The age gap between Somberg and his clients facing
retirement is actually a good thing, he says. “I’m helping
people who are 60 and up but they want to hire a young
planner because they don’t want to have to ‘change horses.’
They want a planner who is going be with them a lifetime.”
In terms of replicating his personal success, Somberg’s
advice to other planners is very direct: “Find a mentor,
someone who is willing to be a guide for you and answer
your questions.” There is no substitute for experience but
having a mentor with wide experience—both in what
to do and not do—can help. Hence, the career guidance
from the up-and-coming Somburg, based on his own experience
is pretty simple: “Young people should position
themselves to learn from older mentors.” Enough said.
Building A Business One Client At A Time
Putting clients first, doing the best by and for them and
building a business based on this philosophy is something
many planners pay lip service to, but Cheryl Young actually
puts it into practice. Young is a private wealth advisor and
CEO of independent firm Young & Associates, Raymond
James Financial Services, based in Silicon Valley. “Earlier
in my career I had managers say ‘If you don’t sell high com-
“ You don’t get
referrals unless
you are talking
to your clients.
A lot.”
Cheryl Young
Young & Associates, Raymond James Financial Services
15 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

mission products you won’t be in business,’” says Young. “I
didn’t feel comfortable with that.” Young is definitely still in
business; at age 38, she is one of the youngest planners to ever
be named to the Chairman’s Council at Raymond James.
So far this year, Young has added 24 new clients. “We
really don’t do marketing, we don’t do PR. We thought
maybe we would hire someone to do this but we didn’t have
time,” she explains. Instead, virtually all the growth comes
from referrals. Volatile markets are a help, not a hindrance
here. “What we are doing in terms of managing money in
difficult markets is working,” says Young, who also adds
that the firm’s strategies are attracting new clients.
Young’s success can also be seen in her sky-high retention
rates of 99.9%. Young feels these very high retention
“ If you can picture it,
you can build it—
and when you build
it they will come.”
rates are based on three distinct factors. The first is performance.
Second, she and her team really get to know their
clients. “We aren’t just managing their money, we need to
know their entire financial needs,” she says. Most of her
clients are fairly young Silicon Valley execs, who may have
concentrated stock positions and need expertise in this
area. Third, Young offers a “client service matrix” for longterm
planning. It includes contingency planning and the
most tax-efficient way to achieve retirement income. Given
that most of her clients are highly affluent, tax efficiency is
a common theme of her practice.
Young disagrees that some of these techniques for success
might not work as effectively for advisors operating
outside the specialized milieu of Silicon Valley. “I do have a
unique client base but as far as other advisors are concerned,
it’s important to know your clients,” she admits. “You don’t
get referrals unless you are talking to your clients. A lot,”
she emphasizes.
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 16
The Power Of Thinking Big
Kelly Campbell of Campbell Wealth Management
in Alexandra, Va., is unquestionably an up-and-comer.
His business has grown by a multiple of 10 since 2003.
Campbell, however, isn’t new to finance, with previous
experience at two insurance broker-dealers. The explosive
growth only occurred once he made the move to independence
and fee-based financial planning.
“True independence means you can say to a client,
‘When you are successful I am successful,’ rather than
here is a product my wirehouse told me to push,” says
Campbell. He credits his broker-dealer, LPL, for much
of the growth, likening the support and information they
provide to ‘drinking from a firehose.’
Kelly Campbell
Campbell Wealth Management
Marketing has played a role in helping Campbell’s momentum
as well. Traditional workshops he holds at libraries,
restaurants and country clubs—build on themselves via
referrals to bring in more and more clients. Though traditional
client events are on the wane for many advisors,
Campbell instead brings in motivational speakers, such as
strategic coaches, for these events for his clients’ benefit.
“The best piece of advice I have is to ‘Think big,’” says
Campbell. He learned this philosophy from a strategic
coach who strongly influenced his own growth story.
In terms of thinking big, when he started out as a RIA,
Campbell imagined what his business would look like if
he could add a zero to everything and it was expanded
tenfold—which is exactly what came to pass. Campbell’s
critical insight for achieving success, his own and for other
planners too, both young and not so young: “If you can
picture it, you can build it—and when you build it they
will come.” n

R
1
S
A
How committed is your clearing fi rm to helping you grow? At First Clearing,
we believe there’s no substitute for one-on-one professional coaching. That’s
why we partner you with a dedicated growth consultant who will support
your progress through a step-by-step process tailored to your specifi c goals.
When it comes to growing your business, isn’t it time you got MORE?
To download a QR code reader, visit the app store for your smart phone or tablet.
First Clearing, LLC is a registered broker-dealer and non-bank affi liate of Wells Fargo & Company. First Clearing Correspondent Services, a division of
First Clearing, LLC, member FINRA/SIPC. ©2012 First Clearing, LLC. 0612-0635

TOTAL REvEnUES
FP50 RANK totAl ReveNues commissioN ReveNue Fee ReveNue otheR ReveNue
2012 2011 comPANy $000s % chANge $000s % chANge $000s % chANge $000s % chANge
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
1 LPL Financial 3,338,449 14.4 1,637,471 12.7 1,013,782 20.1 687,195 10.9
2 Ameriprise Financial Services 2,876,519 14.8 1,335,713 12.7 1,207,417 14.7 333,389 24.3
3 Raymond James Financial Services 1,178,065 15.2 553,134 7.6 411,556 24.2 213,374 20.2
4 Commonwealth Financial Network 646,466 11.5 235,126 9.4 336,603 14.9 74,737 4.2
5 AXA Advisors 572,500 6.5 472,600 5.3 86,300 16.9 13,600 (7.5)
6 MetLife Securities 528,266 11.1 469,431 18.9 58,835 32.4
8 Northwestern Mutual 510,140 14.2 235,539 3.7 195,380 33.9 79,221 7.7
7 Securities America 444,300 (4.7) 222,400 (9.8) 185,667 7.2 36,233 (21.5)
11 Cambridge Investment Research 396,929 17.0 163,348 16.4 221,285 17.1 12,296 23.5
12 Royal Alliance Associates 395,780 17.0 204,411 15.3 151,671 22.0 39,698 8.5
10 NFP Advisor Services Group (and affiliates) 369,179 6.7 223,874 1.9 94,436 18.8 50,869 8.2
9 Wells Fargo Advisors Financial Network 360,161 (17.0) 186,861 13.5 173,300 7.8
13 Financial Network Investment 351,832 6.9 190,231 2.5 131,515 12.6 30,086 12.6
14 MML Investors Services 347,351 7.9 261,976 4.9 60,506 21.1 24,868 11.1
15 National Planning 335,944 11.9 233,052 7.9 76,219 23.8 26,673 17.2
16 Waddell & Reed 332,935 13.5 185,870 1.6 91,374 46.5 55,692 16.1
25 ING Financial Partners 331,179 60.8 255,635 69.2 61,886 41.0 13,659 24.0
17 Securian Financial Services 282,509 (2.8) 214,918 (5.7) 50,372 7.8 17,219 7.8
21 FSC Securities 263,873 13.0 150,102 14.9 87,686 9.4 26,086 14.6
18 John Hancock Financial Network 257,629 (7.9) 222,902 (11.6) 29,126 28.5 5,601 19.0
23 New England Securities 253,864 15.5 195,522 25.9 47,774 23.0 10,568 (58.9)
20 Woodbury Financial Services 253,705 6.3 221,775 6.0 27,957 26.1 3,973 (45.7)
19 H.D. Vest Financial Services 244,037 1.2 136,373 4.6 80,513 14.1 27,151 (32.6)
22 First Allied Securities 241,023 4.6 145,961 3.3 70,712 17.2 24,350 (15.7)
24 SagePoint Financial 235,603 10.2 149,674 12.5 57,821 10.4 28,108 (1.4)
26 Princor Financial Services 229,351 11.8 201,539 10.7 27,529 21.0 283 2.6
27 Invest Financial 217,322 15.0 159,570 13.9 37,553 20.0 20,199 14.8
29 PrimeVest Financial Services 172,471 8.8 134,466 (15.2) 8,825 29,180
30 Multi-Financial Securities 164,804 16.0 96,122 (32.4) 54,783 13,899
28 Transamerica Financial Advisors 156,925 (1.9) 121,936 (2.4) 30,428 0.0 4,561 0.0
32 SII Investments 151,173 16.1 103,007 13.5 35,906 24.1 12,260 16.4
34 Park Avenue Securities 140,278 14.5 103,102 14.6 32,742 16.5 4,433 0.1
CUNA Brokerage Services 136,190 119,390 13,500 3,300
33 Cadaret Grant 135,101 9.7 103,107 9.4 25,714 23.6 6,279 (22.7)
31 Next Financial Group 125,080 (8.0) 88,781 (11.5) 32,040 5.7 4,259 (18.8)
35 M Holdings Securities 123,973 6.6 112,072 4.6 6,680 31.1 5,220 29.4
39 American Portfolios Financial Services 122,981 28.9 79,647 14.5 33,785 71.8 9,549 55.1
36 Ameritas Investment 119,968 12.2 87,550 11.3 23,704 21.8 8,714 (0.7)
37 Walnut Street Securities 114,325 7.7 78,237 5.2 27,438 18.5 8,649 (0.0)
40 CUSO Financial Services 108,247 13.5 88,131 5.1 6,719 35.1 13,396 106.3
38 Genworth Financial Securities 105,728 (0.2) 58,296 (0.5) 41,919 0.6 5,513 (2.9)
43 ProEquities 105,421 17.6 77,668 18.5 18,062 14.2 9,691 17.0
42 Triad Advisors 104,310 14.9 52,330 13.9 46,958 16.0 5,022 15.8
45 CFG/H. Beck 102,851 22.4 79,018 20.0 18,889 27.2 4,944 49.4
41 Allstate Financial Services 99,760 5.8 96,308 6.1 3,452 (2.6)
46 VSR Financial Services 99,251 19.7 58,050 17.0 35,655 25.6 5,547 12.6
44 Centaurus Financial 98,340 16.2 80,287 9.7 13,869 30.8 4,184 387.1
47 Securities Service Network 92,467 15.9 52,457 16.2 29,492 17.3 10,518 10.4
49 Geneos Wealth Management 83,666 12.9 30,809 34.0 37,608 (2.7) 15,249 22.7
48 Investment Centers of America 83,306 11.8 62,516 8.0 13,329 30.8 7,461 15.1
MEDIAN 232,477 11.9 147,818 9.4 46,958 20.1 12,846 10.6
19 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

PAYOUT GRiDS
mutuAl stocKs boNds ANNuities iNsuRANce AlteRNAtives ReP mgd. FiRm mgd. outside
comPANy FuNds % % % % % % % % mgd. %
Allstate Financial Services 45–81 60 60 45–81 45–81 N/A N/A N/A N/A
American Portfolios Financial Services 90 90 90 90 90 90 90 90
Ameriprise Financial Services 72–95 72–95 72–95 72–95 72–95 72–95 72–95 72–95 72–95
Ameritas Investment 50–90 50–90 50–90 50–90 50–90 50–90 50–90 50–90 50–90
AXA Advisors 50–80 50–80 50–80 50–80 50–80 50–80 50–80 50–80 50–80
Cadaret Grant 90 87 87 90 90 87 95 90 90
Cambridge Investment Research Up to 95+ Up to 95+ Up to 95+ Up to 95+ Up to 100 Up to 95+ Up to 100 Up to 100 Up to 95+
Centaurus Financial Up to 90 Up to 80 Up to 90 Up to 90 Up to 90 Up to 90 Up to 90 Up to 90 Up to 90
CFG/H. Beck 95 85 85 95 95 95 95 95 95
Commonwealth Financial Network Up to 95 Up to 95 Up to 95 Up to 95 Up to 95 Up to 95 Up to 98 Up to 98 Up to 98
CUNA Brokerage Services Varies Varies Varies Varies Varies Varies Varies Varies Varies
CUSO Financial Services 90 70–90 70–90 90 90 70–90 90 90 90
Financial Network Investment 88+ 88+ 88+ 88+ 94+ N/A N/A N/A N/A
First Allied Securities Up to 95 Up to 95 Up to 95 Up to 95 Up to 100 Up to 95 Up to 95 Up to 95 Up to 95
FSC Securities 90–95 80–85 80–85 90–95 90–95 90–95 90–95 90–95 90–95
Geneos Wealth Management 93 93 93 93 95 93 95 95 95
Genworth Financial Securities 50–90 50–90 50–90 50–90 50–90 50–90 50–90 50–90 50–90
H.D. Vest Financial Services 50–90 50–90 50–90 Var. 50–90, Fxd. 100 100 50–90
ING Financial Partners Avg. 89 Avg. 89 Avg. 89 Avg. 89 Avg. 89 Avg. 89 Avg. 89 Avg. 89 Avg. 89
Invest Financial 89–95 79–85 79–85 89–95 89–95 89–95 85–95 N/A 89–95
Investment Centers of America 75–92 75–85 75–85 75–92 75–92 75–92 75–92 N/A 75–92
John Hancock Financial Network 74–93 74–93 74–93 74–93 Negotiated 74–93 74–93 74–93 74–93
LPL Financial 90–98 76.5–91 76.5–91 90–98 90–98 90–98 90–98 90–98
M Holdings Securities 95 95 95 97 97 95 96 96 95
MetLife Securities 50–72 50–72 50–72 50–72 50–72 50–72 50–72 50–72 50–72
MML Investors Services 69 69 69 69 69 69 69 69 69
Multi-Financial Securities 90–92 80–82 80–82 90–95 93–95 N/A N/A N/A N/A
National Planning 90–95 80–85 80–85 90–95 90–95 90–95 90–95 N/A 90–95
New England Securities 47–65 47–65 47–65 47–65 47–65 47–65 47–65 47–65 47–65
Next Financial Group 90 85 85 90 90 85 90 90
NFP Advisor Services Gr. (and affiliates) 65–95 65–95 65–95 65–95 96 65–95 65–96 65–96 65–96
Northwestern Mutual 35–90 35–90 35–90 0.5–2.5 Varies Varies 35–90 35–90 35–90
Park Avenue Securities Up to 85.5 Up to 85.5 Up to 85.5 Up to 85.5 Up to 85.5 Up to 85.5 Up to 85.5 Up to 85.5 Up to 85.5
PrimeVest Financial Services 80–92 80–90 80–90 80–95 80–95 N/A N/A N/A N/A
Princor Financial Services 45–85 45–85 45–85 Varies N/A N/A 45–85 N/A 45–85
ProEquities
Raymond James Financial Services 96 96 96 96 91 96 100 96 96
Royal Alliance Associates 90–94 70–80 70–80 90–94 90–95 90–95 90–94 90–94 90–94
SagePoint Financial 90–93 80–83 80–83 90–93 90–95 90–93 90–94 90–95 90–94
Securian Financial Services Up to 93 Up to 93 Up to 93 Up to 93 Up to 93 Up to 93 Up to 93 Up to 93 Up to 93
Securities America 92–95 92–95 92–95 92–95 100 92–95 92–95 92–95
Securities Service Network 90–98 96–98 96–98 90–94 91–100 85 90–98 90–98 90–98
SII Investments 90–95 80–85 80–85 90–95 90–95 90–95 90–95 90–95 90–95
Transamerica Financial Advisors Up to 90 Up to 90 Up to 90 Up to 90 Up to 90 Up to 90 Up to 90 Up to 90 Up to 90
Triad Advisors 80–92 80–90 80–90 80–92 90 85–92 90–100 90 95
VSR Financial Services 80–92 80–88 80–88 80–92 80–92 80–92 95 90 94
Waddell & Reed 50–85 45–60 45–60 50–85 50–85 45–60 50–85 50–85 50–85
Walnut Street Securities 70–96 70–96 70–96 70–96 70–96 70–96 70–96 70–96 70–96
Wells Fargo Advisors Financial Network 90 84 84 90 90 90 90 90 90
Woodbury Financial Services Up to 92 Up to 92 Up to 92 Up to 92 Up to 93 Up to 92 Up to 92 Up to 92 Up to 92
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 20

SERviCES & FEES
AFFiliAtioN eRRoRs & omiss. stANdARd ReP mAx. iNdividuAl ticKet b-shARe b-d FoRgiv. tRust
comPANy Fees $ iNsuRANce deductible $ coveRAge $000s chARge $ limit $ equity loANs svcs.
Allstate Financial Services 135 Third party 0 0 0
American Portfolios Financial Services 1,600 Third party 25,000 1,000 35
Ameriprise Financial Services 0 0 0 0
Ameritas Investment 0–3,000 Third party 5,000 3,000 0–35
AXA Advisors Varies Third party 1,000 5,000 N/A
Cadaret Grant 365 Third party 5,000 2,000 15.65+
Cambridge Investment Research 0 Third party 7,500 3,000 Negotiable
Centaurus Financial 0 Third party 5,000 10,000 20
CFG/H. Beck 4,800 Third party 0 0 0
Commonwealth Financial Network Tech fee 1,800 Third party 10,000 2,000 0–19.95
CUNA Brokerage Services N/A Third party 0 0 0
CUSO Financial Services 0 Third party 15,000 2,000 Varies
Financial Network Investment 0 0 0 0
First Allied Securities 3,000 Third party 5,000–50,000 2,000 N/A
FSC Securities 1,000 Third party N/A N/A 0–40
Geneos Wealth Management 0 Third party 10,000 1,500 12–20
Genworth Financial Securities 0 Third party 5,000 0 25–50
H.D. Vest Financial Services 0 Third party 0 0 0
ING Financial Partners 1,500 Third party 500–10,000 4,000 Varies
Invest Financial 3,396 (283/month) Third party 5,000 15,000 0–35
Investment Centers of America 0–3,000 Third party 5,000 15,000 0–35
John Hancock Financial Network 0 Third party 0 5,000 0
LPL Financial 600–1,500 Third party 10,000–50,000 50,000 0–50
M Holdings Securities Varies Third party 5,000 8,000 10–35
MetLife Securities 0 Third party 0 0 0
MML Investors Services 0 Third party 1,000 2,000 Varies
Multi-Financial Securities 0 0 0 0
National Planning 3,600 Third party 5,000 15,000 30
New England Securities 0 Third party 0 0 Varies
Next Financial Group 0 Third party 5,000 3,000 16
NFP Advisor Services Group (and affiliates) Varies Third party 5,000 2,000 Varies
Northwestern Mutual 0 Third party 1,000 10 0–30
Park Avenue Securities 900 Third party 2,500–5,000 4,000 0–21
PrimeVest Financial Services 0 0 0 0
Princor Financial Services N/A Third party 500 3,000 0–30
ProEquities 1,560 Third party 2,500 2,000 16
Raymond James Financial Services 0 Self 30,000 10,000 Varies
Royal Alliance Associates 1,000 Third party N/A N/A 0–40
SagePoint Financial 1,000 Third party N/A N/A 0–40
Securian Financial Services 0 0 0 0
Securities America 4,200 (includes E&O) Third party 15,000 2,000 0–35
Securities Service Network 4,200 Self 5,000 1,000 0–35
SII Investments 3,720 5,000 15,000 0–30
Transamerica Financial Advisors 345/month Third party 0 3,000 3.25–27.50
Triad Advisors 0 Third party 10,000 3,000 0–25
VSR Financial Services 0 Third party 5,000 1,000 N/A
Waddell & Reed 0 Self 0 0 0
Walnut Street Securities 1,350 Third party 500/2,500 0 Varies
Wells Fargo Advisors Financial Network 1,620–4,260 Third party 125,000 1,000 28
Woodbury Financial Services 0 Third party 1,000 3,000 0–37
• YES • nO
21 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

FP50 Rev. % oF RePs PRoduciNg
RANKiNg totAl PAyout AveRAge PAyout $50K– $100K–
2012 2011 comPANy $000s % chANge $000s % chANge

REPS & PRODUCTiOn
AveRAge
PRoductioN 2012 2011 totAl % PRoduciNg % RePs RePs seRies 6 seRies 7
oF toP 20% quotA quotA RePs chANge RePs chANge Added dRoPPed RePs RePs cFPs
621,522 125,000 125,000 12,847 7.7 12,847 7.7 1,101 11,746
0 0 7,498 0.1 7,498 0.1 7,498
860,882 250,000 250,000 4,670 0 3,193 (1.4) 508 508 4,670 726
895,567 200,000 200,000 1,791 3.8 1,414 4.1 151 95 195 1,596 630
313,603 0 0 5,320 (0.6) 5,284 9.8 938 1,040 811 4,240 442
682,928 150,000 150,000 1,642 (10.1) 1,536 (15.9) 342 1,509 451
201,092 0 0 7,201 3.7 5,625 1.4 3,212 2,024 601
533,722 0 0 2,604 16.8 2,115 12.6 665 340 387 1,730 561
75,400 0 0 6,092 (0.7) 5,198 (3.6) 1,262 1,164
579,462 150,000 150,000 1,965 (10.8) 1,757 (4.6) 83 131
911,619 300,000 300,000 1,011 17.7 1,011 17.7 195 43 1,011
637,650 100,000 100,000 1,732 (1.8) 1,345 (3.9) 256 311 678 1,174 173
0 0 2,234 (3.4) 1,842 (2.4) 222 268
651,508 250,000 250,000 1,500 (0.1) 1,410 (3.0) 223 225 461 1,039
338,417 0 0 1,209 (6.4) 1,116 (5.0)
281,000 0 30,000 3,404 40.0 2,462 34.3 1,350 2,054
413,000 50,000 50,000 1,450 (12.1) 1,350 (12.9) 163 271 937 882
608,501 150,000 150,000 1,345 (12.4) 1,081 (5.1) 99 113
75,000 40,000 2,140 0.4 1,816 (1.7) 605 638
93,500 12,000 12,000 2,247 (12.2) 2,014 (13.2) 333 400
159,204 0 0 2,429 (1.0) 2,109 (4.2) 554 540
205,000 0 0 5,064 (4.5) 4,156 (4.1) 384 560 4,025 2,751
601,539 150,000 200,000 871 (3.1) 632 4.8 118 146 2 773 127
372,818 50,000 50,000 1,692 (9.6) 1,551 (7.8) 236 236
506,933 150,000 150,000 1,458 15.8 1,157 12.2 473 274 430 1,147 139
232,165 3,000 3,000 1,649 (5.4) 1,649 (5.4) 346 441 1,334 870
0 0 1,037 7.5 824 9.4 136 65
702,606 250,000 250,000 609 5.7 568 0 79 46 129 480 68
0 0 1,656 21.7 1,413 23.9 540 267
949,201 0 0 781 (1.1) 500 4.4 67 53 284 290 59
449,899 125,000 125,000 987 0.7 819 0.6 87 80 302 670 173
196,309 0 0 2,770 0.9 2,188 1.7 511 429 1,175 1,465 93
50,000 50,000 810 (12.2) 801 (9.6) 148 644 143
523,159 0 0 624 (8.4) 606 (7.5) 42 99
457,930 75,000 50,000 793 3.7 688 3.9 104 76 171 474 83
301,970 10,000 10,000 1,711 (2.2) 1,312 (0.8) 147 189 707 605
550,000 0 0 512 459 103 209 71 363 68
605,332 200,000 150,000 650 5.7 484 (0.8) 102 77 103 522 114
369,481 25,000 25,000 958 (12.7) 822 (3.5) 141 239 254 672 122
295,000 20,000 20,000 1,517 6.8 975 2.6 628 870
449,192 50,000 50,000 704 2.0 644 3.4 91 105 292 440 215
893,701 200,000 200,000 392 13.6 270 3.1 17 20 18 259 85
857,415 200,000 200,000 304 2.7 252 (5.3) 25 285 84
300,000 300,000 485 7.8 365 4.3
592,435 40,000 40,000 484 2.8 422 2.2 90 77 87 397 134
175,666 0 0 1,943 (2.5) 1,663 (7.3) 103 233 731 774 196
594,231 0 0 364 4.3 320 0 50 35 44 320 41
1,000 1,000 7,751 (6.5) 7,694 (5.9)
0 0 4,701 (2.5) 4,701 (2.5) 400 519 2,123 643
348,448 30,000 25,000 1,628 13.7 1,628 13.7
23 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

FP50 Rev.
RANKiNg commissioN Rev. mutuAl FuNd Rev. secuRities Rev. stocK Rev. boNd Rev. etF Rev.
2012 2011 comPANy $000s % chANge $000s % chANge $000s % chANge $000s $000s $000s
1
2
3
5
6
14
17
7
4
15
11
20
8
22
18
10
26
21
13
12
16
9
27
19
25
24
23
28
30
33
36
34
32
31
45
29
35
40
38
47
37
44
39
42
50
41
46
48
43
49
1 LPL Financial 1,637,471 12.7 445,841 8.2 171,167 8.9 94,498 76,669
2 Ameriprise Financial Services 1,335,713 12.7 593,314 5.6
3 Raymond James Financial Services 553,134 7.6 273,197 7.6 115,144 2.2 90,843 24,301
5 AXA Advisors 472,600 5.3 55,500 (6.3) 6,000 1.7 4,200 1,800
6 MetLife Securities 469,431 18.9 35,075 (7.4) 3,456 3.9 2,691 371 394
14 MML Investors Services 261,976 4.9 96,641 6.9 5,173 32.3 2,571 2,601
25 ING Financial Partners 255,635 69.2 68,007 49.4 6,699 10.4 5,706 993
8 Northwestern Mutual 235,539 3.7 120,066 3.2 4,731 4.0 4,510 221
4 Commonwealth Financial Network 235,126 9.4 79,674 0.7 15,686 (5.2) 7,046 5,345 3,295
15 National Planning 233,052 7.9 57,115 0.3 5,589 (9.5) 3,297 1,464 828
10 NFP Advisor Services Group (and affiliates) 223,874 1.9 36,479 6.7 4,116 (32.8) 2,570 1,545
18 John Hancock Financial Network 222,902 (11.6) 36,024 8.3 660 (28.4) 660
7 Securities America 222,400 (9.8) 135,300 (4.1) 11,500 (16.3) 9,400 2,100
20 Woodbury Financial Services 221,775 6.0 35,535 (4.8) 2,770 2,699 72
17 Securian Financial Services 214,918 (5.7) 34,127 4.2 1,187 (6.1) 1,187
12 Royal Alliance Associates 204,411 15.3 78,432 15.6 9,469 (6.8) 7,481 1,989
26 Princor Financial Services 201,539 10.7 132,379 7.3 2,808 (2.3) 2,527 281
23 New England Securities 195,522 25.9 30,134 0.6 2,328 13.0 1,711 386 232
13 Financial Network Investment 190,231 2.5 86,077 (73.6) 10,546 7,015 2,553 978
9 Wells Fargo Advisors Financial Network 186,861 13.5 63,013 13.1 61,686 13.9 38,019 23,667
16 Waddell & Reed 185,870 1.6 124,142 6.4 1,097 46.3 848 141 108
11 Cambridge Investment Research 163,348 16.4 52,696 5.5 11,124 10.1 5,734 1,748 3,643
27 Invest Financial 159,570 13.9 39,113 11.5 9,377 (7.5) 5,853 2,890 634
21 FSC Securities 150,102 14.9 51,968 10.4 7,355 19.6 5,904 1,451
24 SagePoint Financial 149,674 12.5 53,954 9.9 7,214 (10.6) 6,646 568
22 First Allied Securities 145,961 3.3 26,290 1.6 33,243 (13.1) 27,111 6,132
19 H.D. Vest Financial Services 136,373 4.6 72,502 4.9 8,918 16.6 7,252 1,666
29 PrimeVest Financial Services 134,466 (15.2) 36,392 (77.0) 17,489 7,965 4,676 4,848
28 Transamerica Financial Advisors 121,936 (2.4) 43,124 (65.5)
CUNA Brokerage Services 119,390 17,200 1,800 1,500 300
35 M Holdings Securities 112,072 4.6 5,168 13.0 6,071 196.6 5,766 305
33 Cadaret Grant 103,107 9.4 46,409 5.9 8,281 5.6 6,050 1,117 1,114
34 Park Avenue Securities 103,102 14.6 22,561 1.4 2,041 5.3 1,893 148
32 SII Investments 103,007 13.5 22,007 6.6 2,409 8.2 1,620 449 340
41 Allstate Financial Services 96,308 6.1 16,099 7.1 446 (33.4) 399 47
30 Multi-Financial Securities 96,122 (32.4) 27,393 (80.7) 7,434 3,320 2,492 1,622
31 Next Financial Group 88,781 (11.5) 23,203 (3.4) 10,570 (19.5) 7,561 3,009
40 CUSO Financial Services 88,131 5.1 25,611 (69.5) 4,057 1,763 2,295
36 Ameritas Investment 87,550 11.3 22,364 5.3 6,859 (6.5) 1,806 5,053
44 Centaurus Financial 80,287 9.7 8,394 (5.9) 1,576 16.3 441 207 928
39 American Portfolios Financial Services 79,647 14.5 26,613 6.7 10,608 6.6 7,995 1,862 751
45 CFG/H. Beck 79,018 20.0 26,279 8.7 4,114 8.8 2,567 1,548
37 Walnut Street Securities 78,237 5.2 30,644 (0.2) 2,718 (20.4) 1,912 423 383
43 ProEquities 77,668 18.5 34,552 18.5 6,036 15.6 1,622 4,414
48 Investment Centers of America 62,516 8.0 18,092 4.8 4,577 3.3 3,091 1,225 261
38 Genworth Financial Securities 58,296 (0.5) 36,395 5.8 1,589 (9.7) 1,476 113
46 VSR Financial Services 58,050 17.0 10,862 9.7 5,288 (16.2) 3,966 1,216 106
47 Securities Service Network 52,457 16.2 14,678 16.2 3,965 1.7 1,479 791 1,695
42 Triad Advisors 52,330 13.9 12,684 6.3 5,317 43.9 2,907 2,409
49 Geneos Wealth Management 30,809 34.0 9,691 72.6 2,353 8.9 1,467 886
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 24

COMMiSSiOn & FEE–BASED PRODUCTS
vARiAble Fixed loNg-teRm liFe & AlteRNAtives hedge mANAged
ANNuities Rev. ANNuities ANNuities iNsuRANce Rev. cARe disAbility ReveNue FuNd Reit FutuRes
$000s % chANge Rev. $000s Rev. $000s $000s % chANge Rev. $000s Rev. $000s $000s % chANge Rev. $000s Rev. $000s Rev. $000s
878,219 16.6 758,436 119,783 29,697 (16.2) 1,627 27,475 112,547 18.7
386,108 19.3 356,904 13,606 108,552 (3.1) 28,467 79,629 247,739 32.2 86,276 105,635 1,951
164,794 11.6 148,771 16,023
317,800 10.5 317,800 87,800 (5.5) 87,800 5,500 61.8 150 3,900
403,922 22.8 381,091 22,831 22,394 3.7 22,394 4,584 44.1
122,870 8.5 118,440 4,430 15,898 (54.0) 21,394 181.2 9,221
140,558 105.1 136,341 4,217 29,914 27.9 43 29,872 10,457 38.2 8,231
59,460 13.8 59,460 17,722 (21.8) 17,722 33,560 7.1
96,245 14.9 93,420 2,825 18,279 11.9 3,163 14,485 25,242 32.6 9,032 10,794 2,803
152,092 12.3 141,812 5,689 2,814 (6.6) 96 2,717 15,442 6.9 10,005 348
76,729 26.0 75,397 1,332 90,350 (15.9) 275 90,076 16,199 47.1 139 5,818 838
76,749 15.9 74,379 988 108,109 (28.2) 9,111 39,129 1,359 7.3 1,359
64,800 (14.6) 63,100 1,700 2,900 (41.0) 7,900 (27.7) 6,478
132,667 10.9 132,410 256 41,881 (4.5) 41,881 8,922 6.4
60,048 3.2 55,784 120 119,555 (11.9) 119,555
95,331 14.4 92,338 653 5,506 24.6 15,672 36.0 7,862
48,904 20.2 48,904 17,448 14.5 17,448
142,261 35.8 140,635 1,625 16,263 9.2 16,263 4,536 23.9
66,723 66,723 18,119 18,119 8,766 8,766
54,461 28.0 54,461 3,112 12.8 3,112 4,589 (51.6) 115 1,760
42,733 (8.1) 40,857 1,876 17,897 (5.6) 17,897
73,359 32.0 56,077 376 6,959 (27.1) 4,492 19,210 26.8 9,164 4,688
92,068 17.1 75,349 10,616 2,710 (5.8) 234 2,383 16,302 21.9 14 5,533 280
71,942 11.3 69,261 380 4,312 9.2 14,525 63.3 9,703
74,110 12.4 67,914 1,186 5,657 41.9 8,741 48.2 5,106
58,862 11.8 56,793 2,069 7,680 95.1 310 7,370 19,886 (3.4) 15,736 1,307
47,218 8.5 47,218 7,735 0.6
70,207 50,951 19,256 4,147 4,147 6,231 6,231
78,812 78,812
68,300 43,100 25,200 8,000 760 7,240 24,090 190
15,039 39.0 8,777 331 85,720 (4.2) 85,675 74 (58.3) 29 45
43,540 15.2 42,018 834 3,095 8.4 289 2,296 1,784 (8.5) 1,784
76,396 21.1 76,396 2,104 (22.4) 2,104
66,263 19.2 61,689 2,784 2,421 (7.9) 76 2,345 9,907 2.5 -6 5,053 492
72,872 8.4 65,953 6,891 (11.5)
41,992 41,992 9,099 9,099 10,204 10,204
47,779 (16.4) 44,847 2,933 2,110 5,119 (15.4) 2,597 145
54,936 40,336 8,071 2,198 1,328 1,099
38,262 9.9 38,262 20,065 31.1 3,892
51,640 11.2 38,828 12,812 5,036 9.7 210 4,826 13,642 15.1 9,891
37,777 23.6 33,450 457 2,362 (24.0) 3 2,358 2,287 126.5 2,059 149
36,016 28.0 34,524 342 2,397 (6.0) 2,397 10,211 41.6
40,022 16.4 39,462 560 3,458 (20.5) 2,414 1,396 (8.0)
27,956 34.9 26,272 494 2,800 (27.3) 2,800 6,324 (4.4) 6,324
27,908 16.7 22,146 4,444 4,509 (5.6) 538 3,798 7,430 (0.7) 3,751 149
16,045 (1.6) 14,189 1,856 3,758 (33.7) 419 2,839 509 10.7 342
17,173 26.9 17,173 4,293 29.7 271 20,433 23.3 11,687 1,064
32,036 19.7 30,108 344 1,778 (3.5) 1,778
21,871 25.9 14,500 3,115 (55.8) 3,115 9,344 58.1 9,244
11,708 23.1 10,677 1,031 1,601 31.9 59 1,542 5,456 21.5 2,803 118
25 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

COMMiSSiOn & FEE–BASED PRODUCTS
FP50 Rev. % RePs
RANKiNg Fee Rev. $000s Fee Rev. FRom Fee Rev. Fee-bAsed Aum oN PlAt-
2012 2011 comPANy $000s % chANge RePs FiRm outside As % $000s FoRm
1
2
3
5
6
14
17
7
4
15
11
20
8
22
18
10
26
21
13
12
16
9
27
19
25
24
23
28
30
33
36
34
32
31
45
29
35
40
38
47
37
44
39
42
50
41
46
48
43
49
1 LPL Financial
2 Ameriprise Financial Services
3 Raymond James Financial Services
5 AXA Advisors
6 MetLife Securities
14 MML Investors Services
25 ING Financial Partners
8 Northwestern Mutual
4 Commonwealth Financial Network
15 National Planning
10 NFP Advisor Services Group (and affiliates)
18 John Hancock Financial Network
7 Securities America
20 Woodbury Financial Services
17 Securian Financial Services
12 Royal Alliance Associates
26 Princor Financial Services
23 New England Securities
13 Financial Network Investment
9 Wells Fargo Advisors Financial Network
16 Waddell & Reed
11 Cambridge Investment Research
27 Invest Financial
21 FSC Securities
24 SagePoint Financial
22 First Allied Securities
19 H.D. Vest Financial Services
29 PrimeVest Financial Services
28 Transamerica Financial Advisors
CUNA Brokerage Services
35 M Holdings Securities
33 Cadaret Grant
34 Park Avenue Securities
32 SII Investments
41 Allstate Financial Services
30 Multi-Financial Securities
31 Next Financial Group
40 CUSO Financial Services
36 Ameritas Investment
44 Centaurus Financial
39 American Portfolios Financial Services
45 CFG/H. Beck
37 Walnut Street Securities
43 ProEquities
48 Investment Centers of America
38 Genworth Financial Securities
46 VSR Financial Services
47 Securities Service Network
42 Triad Advisors
49 Geneos Wealth Management
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 26
1,013,782 20.1 959,108 54,674 38.24 101,520,625 65
1,207,417 14.7 991,805 215,612 47.48 100
411,556 24.2 270,412 73,132 68,013 42.66 53,533,573 90
86,300 16.9 86,300 15.44 9,372,000 66
58,835 32.4 25,651 19,678 13,506 11.14 5,486,249 46
60,506 21.1 60,506 18.76 9,131,385 50
61,886 41.0 51,574 10,312 19.49 4,752,100 46
195,380 33.9 137,162 57,415 803 45.34 20,136,562 37
336,603 14.9 292,261 15,303 29,039 58.88 29,300,000 86
76,219 23.8 30,477 45,742 24.65 60
94,436 18.8 46,603 6,488 41,345 29.67 9,682,269 69
29,126 11.56 3,782,535 60
185,667 7.2 86,789 98,878 45.50 12,500,000 92
27,957 26.1 15,687 12,270 11.20 3,130,347 49
50,372 7.8 33,732 16,640 18.99 5,377,195 62
151,671 22.0 110,593 41,078 42.59 16,535,219 66
27,529 21.0 26,044 1,485 12.02 2,408,441 45
47,774 23.0 24,912 15,972 6,889 19.64 5,707,339 59
131,515 131,515 40.88 47
173,300 7.8 121,400 21,100 30,800 48.12 20,230,122 96
91,374 46.5 18,068 73,306 32.96 6,270,532 86
221,285 17.1 155,581 18,355 47,349 57.53 22,812,067 89
37,553 20.0 17,111 20,442 19.05 N/A 54
87,686 9.4 66,674 21,011 36.88 10,266,234 90
57,821 10.4 42,504 15,317 27.87 5,901,074 59
70,712 17.2 39,010 31,703 32.64 4,974,464 69
80,513 14.1 76,072 4,441 37.12 5,881,240
8,825 8,825 6.16 21
30,428 30,428 19.97
13,500 13,500 10.16 1,639,000 84
6,680 31.1 4,188 737 1,755 5.63 2,341,970 34
25,714 23.6 19,921 303 5,489 19.96 2,476,710 69
32,742 16.5 4,687 5,274 22,782 24.10 3,973,779 64
35,906 24.1 12,691 23,215 25.85 72
54,783 54,783 36.30 47
32,040 5.7 16,867 15,173 26.52 2,947,953 77
6,719 35.1 6,719 7.08 546,007 15
23,704 21.8 15,210 8,494 21.31 2,562,904 50
13,869 30.8 5,384 8,484 14.73 1,694,254 52
33,785 71.8 23,279 10,505 29.78 2,280,722 70
18,889 27.2 1,427 358 17,104 19.29 12,339,085 67
27,438 18.5 21,635 3,602 2,202 25.97 3,932,783 52
18,062 14.2 8,330 2,358 7,374 18.87 2,000,000 62
13,329 30.8 9,473 3,856 17.57 87
41,919 41.83 3,804,765 64
35,655 25.6 23,207 12,448 38.05 3,268,107 87
29,492 17.3 22,086 7,406 35.99 3,740,421 79
46,958 16.0 17,267 29,691 47.30 2,100,000 88
37,608 (2.7) 30,495 1,183 5,931 54.97 3,964,920 99

{ royalalliance.com }
Why delay your arrival?
At Royal Alliance, our advisors are intensely motivated, fi ercely
independent, and consistently among the highest producers in the
industry.
In return, they are rewarded in the most “Royal” manner: with the resources
of one of the country’s largest networks of independent advisors; with
All Ways Open Architecture SM that allows them to run their business their
way; with leading-edge technology and unmatched support staff.
Best of all, they’re surrounded by other entrepreneurs and business owners
who also achieve at exceptional levels, who share their drive, understand
their challenges, and who realize that, when you join Royal Alliance, you
have – in essence – arrived.
To have a recruiter uiter contact you, scan the barcode below with your smart phone.
Ranking data is based on InvestmentNews.com’s s report of the largest independent broker-dealers with reps producing in excess of
$100k annually. ly.
Royal Alliance Associates, Inc. is a registered broker-dealer and registered investment advisor, member FINRA and SIPC.
Not FDIC or NCUA CUA insured. Securities may lose value. Not bank or credit union guaranteed.
Royal Alliance Associates, Inc. • One World Financial Center New York, NY 10281
2012-002813A A
{866-849-7673}
PROUDLY FUELED BY
SM
all ways open
ARCHITECTURE

CLiEnTS & ACCOUnTS
FP50 Rev. Asset bReAKout % quAli-
RANKiNg totAl AccouNt Assets $50– $100K– Active AccouNts Fied
2012 2011 comPANy $000s % chANge

FP50 Rev.
RANKiNg Full-time liceNsed RegisteRed oFFice oF
2012 2011 comPANy stAFF PRoFessioNAls oFFices suPeRvisoRy juRis. RecRuiteRs comPliANce
2
1
3
16
4
7
9
8
23
24
22
10
25
5
19
14
15
17
11
20
27
30
45
33
18
38
35
34
32
42
41
40
44
50
12
31
37
46
26
48
36
47
43
49
6
13
21
28
29
39
2 Ameriprise Financial Services 2,800
1 LPL Financial 2,552 852 6,593 4,118
3 Raymond James Financial Services 2,495 1,953 1,385 9 113
16 Waddell & Reed 905 25 419 7 25
4 Commonwealth Financial Network 503 230 1,120 113 7 46
8 Northwestern Mutual 446 586 913 81 83
11 Cambridge Investment Research 435 161 1,337 317 23 49
7 Securities America 375 193 1,324 247 8 78
19 H.D. Vest Financial Services 305 1 1 10 44
22 First Allied Securities 270 118 445 150 6 52
20 Woodbury Financial Services 216 1,014 27 26 37
12 Royal Alliance Associates 205 93 858 218 2 62
24 SagePoint Financial 205 89 981 317 2 56
5 AXA Advisors 200 5,051 1,243 77 30 28
21 FSC Securities 198 85 771 232 3 54
14 MML Investors Services 195 5,064 1,369 92 6
15 National Planning 186 84 858 251 3 41
25 ING Financial Partners 183 1,779 311 2 16
10 NFP Advisor Services Group (and affiliates) 177 121 721 15 3 43
18 John Hancock Financial Network 175 342 51 51
27 Invest Financial 174 94 1,691 130 5 37
28 Transamerica Financial Advisors 166 30
41 Allstate Financial Services 144 8,329 6,858 82 49 51
CUNA Brokerage Services 141 2 1 3 1 17
17 Securian Financial Services 133 6 22
36 Ameritas Investment 127 399 637 58 1 14
31 Next Financial Group 120 50 622 166 6 25
33 Cadaret Grant 117 32 529 258 1 11
34 Park Avenue Securities 115 70 398 59 24
43 ProEquities 107 55 851 40 2 17
38 Genworth Financial Securities 94 1,394 5 5 8
40 CUSO Financial Services 85 65 667 15 2 11
45 CFG/H. Beck 85 46 546 47 2 16
48 Investment Centers of America 81 80 543 9 2 14
9 Wells Fargo Advisors Financial Network 80 528 528 19 28
32 SII Investments 77 60 368 107 3 16
39 American Portfolios Financial Services 75 30 366 88 1 10
46 VSR Financial Services 74 47 215 1 5
26 Princor Financial Services 73 45 950 71 6 21
47 Securities Service Network 55 31 301 68 3 10
35 M Holdings Securities 54 43 152 53 3 6
44 Centaurus Financial 50 18 358 155 3 12
42 Triad Advisors 46 24 265 51 2 10
49 Geneos Wealth Management 45 20 199 67 1 10
6 MetLife Securities
13 Financial Network Investment
23 New England Securities
29 PrimeVest Financial Services
30 Multi-Financial Securities
37 Walnut Street Securities
CORPORATE STAFF
29 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

SMALLER FiRMS
totAl ReveNues commissioN ReveNue Fee ReveNue otheR ReveNue
comPANy $000s % chANge $000s % chANge $000s % chANge $000s % chANge
Investors Capital 80,876 (3.1) 65,165 (5.5) 14,509 19.9 1,202 (49.5)
Sigma Financial 76,345 17.9 49,849 14.2 26,496 25.7
Summit Brokerage Services 70,000 12.0 52,100 7.4 13,100 19.1 4,800 60.0
Questar Capital 69,955 10.0 61,325 9.8 6,380 39.0 2,250 (29.3)
Investacorp 68,320 36.1 55,292 10.1 13,028
KMS Financial Services 67,447 12.9 38,649 6.3 26,967 24.3 1,832 7.3
United Planners 65,764 1.7 45,851 23.8 19,914 9.7
J.P. Turner 65,732 (1.2) 49,852 (25.0) 10,040 5,841
WFG Investments 62,713 21.1 38,213 28.2 17,100 22.1 7,400 (7.5)
Independent Financial Group 62,475 37.2 42,543 37.8 15,049 44.8 4,883 14.7
O.N. Equity Sales 49,468 7.3 46,481 4.7 2,439 56.5 547 355.8
Tower Square Securities 48,926 7.4 37,830 (2.6) 7,687 14.1 3,409
Berthel Fisher & Co. Financial Services 48,864 (1.0) 40,773 8.6 8,091 10.3
J.W. Cole Financial 46,865 16.4 38,365 19.2 8,500 5.4
Sterne Agee Financial Services 42,526 14.4 37,043 12.6 5,483 27.5
WRP Investments 40,914 19.7 34,586 18.1 6,328 29.4
Kovack Securities 37,405 19.5 25,027 20.4 12,378 17.9
Crown Capital Securities 33,753 11.6 24,822 12.3 7,798 63.1 1,133 (66.3)
LaSalle St. Securities 31,836 4.9 27,074 3.4 4,762 13.9
Harbour Investments 27,770 0.1 23,370 (2.3) 4,400 15.8
Hornor Townsend & Kent 27,736 (24.9) 27,736 11.5
Prospera Financial Services 25,593 65.2 17,886 15.4 7,707
First Midwest Securities 17,848 14,742 717 2,389
Broker Dealer Financial Services 17,204 13,784 1,995 1,425
Founders Financial Securities 13,545 10.1 10,195 (1.4) 3,350 69.9
Larson Financial Securities 7,077 354.1 7,077 354.1
PRoduciNg RePs totAl PAyout Avg. PAyout PRoductioN $
comPANy totAl % chANge RePs $000s totAl % chANge Avg. toP 20% quotA
Investors Capital
Sigma Financial
Summit Brokerage Services
Questar Capital
Investacorp
KMS Financial Services
United Planners
J.P. Turner
WFG Investments
Independent Financial Group
O.N. Equity Sales
Tower Square Securities
Berthel Fisher & Co. Financial Services
J.W. Cole Financial
Sterne Agee Financial Services
WRP Investments
Kovack Securities
Crown Capital Securities
LaSalle St. Securities
Harbour Investments
Hornor Townsend & Kent
Prospera Financial Services
First Midwest Securities
Broker Dealer Fin. Services
Founders Financial Securities
Larson Financial Securities
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 30
480 (8.7) 552 65,980 137,457 10.3 407,000 100,000
620 (1.1) 666 66,525 107,298 17.3 296,174 50,000
315 (3.1) 360 54,000 171,429 7.1 714,000 150,000
520 (8.3) 578 56,667 108,975 14.8 297,000 25,000
403 (16.9) 443 56,000 138,958 34.8 472,000 75,000
325 1.6 395 59,198 182,148 12.4 604,613 45,000
325 14.4 388 50,529 155,474 (14.2) 400,000 75,000
480 0.2 545 51,000 106,250 1.0 335,882 10,000
240 0.0 245 57,500 239,583 19.8 675,000 200,000
440 18.9 475 52,349 118,975 16.8 422,600 100,000
726 1.8 922 41,760 57,520 4.0 171,175 10,000
306 (23.5) 330 42,308 138,262 34.3 357,247 0.00
332 (6.2) 353 40,553 122,147 18.1 422,000 50,000
275 5.8 328 44,835 163,038 5.7 598,650 100,000
270 10.2 285 39,555 146,501 (3.5) 350,000 100,000
374 (0.3) 374 43,158 115,397 26.4 260,681 50,000
287 (1.7) 315 32,144 112,000 11.2 315,000 50,000
301 4.9 320 32,620 108,373 10.5 310,221 50,000
255 (9.9) 302 27,491 107,810 2.7 255,000 100,000
191 0.0 222 27,850 145,812 0.5 395,000 45,000
865 0.0 984 44,385 51,313 11.9 25,000
112 5.7 112 30,766 274,694 36.8 542,810 250,000
103 (37.6) 103 17,800 172,816 40.7 600,000 100,000
241 295 11,537 47,873 25,000
63 14.5 92 10,306 163,594 (27.2) 526,437 100,000
21 75.0 36 3,278 156,086 152.0 519,410

COMPAnY
REPS
Total Reps
% Change
Producing Reps
% Change
Total Payouts
% Change
Average Rep Payout
% Change
Total Commissions
% Change
Mutual Funds
% Change
Securities
% Change
Annuities
% Change
Insurance
% Change
Alternatives
% Change
Total Fee Revenue
% Change
5,002
(10.8)
4,389
(5.9)
709,823,000
15.9
491,850
22.3
PRODUCT REvEnUES
504,186,841
14.3
184,352,984
12.4
24,038,045
(1.4)
241,382,170
12.9
15,475,414
25.3
38,938,228
48.0
297,177,877
15.7
6,870
3.6
5,742
3.0
632,193,000
9.5
459,566
4.3
479,115,000
(30.0)
186,257,000
(71.8)
37,058,000
2006.2
194,967,000
1095.9
35,123,000
519.8
25,710,000
5494.0
195,123,000
N/A
New York
metlife.com
Steven Kandarian
MetLife
MetLife Securities
New England Securities
Tower Square Securities
Walnut Street Securities
945,381,259
11.6
9,475
(2.3)
8,219
(5.0)
666,076,133
22.5
454,019
27.4
781,020,299
17.7
104,882,895
(2.8)
9,252,815
(13.6)
611,818,995
24.5
44,250,206
0.0
10,815,388
21.9
141,734,829
25.2
2,167
(9.3)
1,938
(4.4)
329,696,993
2.0
322,845
8.5
293,935,448
0.1
60,405,510
6.1
5,301,497
5.1
96,064,360
11.3
121,952,606
(11.8)
10,211,475
41.6
69,261,384
12.5
Miami
ladenburg.com
Richard Lampen
Ladenburg Thalmann
Securities
America
Triad Advisors
Investacorp
616,929,922
1.6
12,752,591
11,778,841
2,735
(7.3)
2,423
(13.4)
496,340,506
3.3
548,069
22.0
330,022,431
(3.7)
166,084,114
(3.0)
32,157,771
5.8
108,521,758
(3.5)
6,015,000
(49.7)
17,243,788
2.4
245,652,321
15.0
nETWORKS
lAdeNbuRg thAlmANN
AdvisoR ceteRA secuRiAN FiNANciAl NAtioNAl PlANNiNg
gRouP FiNANciAl gRouP metliFe FiNANciAl gRouP seRvices holdiNgs
Headquarters New York Los Angeles
Website advisorgroup.com cetera.com
Chief Executive Larry Roth Valerie Brown
Parent Company SunAmerica Cetera Financial Group
Broker-Dealer Firms FSC Securities Financial Network
Investment
Royal Alliance Multi-Financial
Associates Securities
SagePoint Primevest Financial
Financial Services
Genworth Financial
Securities
Total B-D Revenue 895,256,551 794,835,000
% Change 14.0
8.6
Total B-D Net Capital 79,276,000 51,732,576
Total B-D Net Excess
Capital
78,526,000 50,568,481
St. Paul, Minn.
securian.com
Bob Senkler
Securian Fin. Group
Securian Fin. Svcs.
CFG/H. Beck
385,359,459
2.9
5,171,864
4,740,262
Santa Monica, Calif.
prudential.co.uk
Jim Livingston
Prudential
National Planning
SII Investments
Invest Financial
Investment Centers of
America
787,745,000
13.5
29,571,000
28,571,000
lAdeNbuRg thAlmANN
AdvisoR ceteRA secuRiAN FiNANciAl NAtioNAl PlANNiNg
gRouP FiNANciAl gRouP metliFe FiNANciAl gRouP seRvices holdiNgs
3,931
6.6
3,455
2.4
648,689,000
13.8
771,163
12.2
lAdeNbuRg thAlmANN
AdvisoR ceteRA secuRiAN FiNANciAl NAtioNAl PlANNiNg
gRouP FiNANciAl gRouP metliFe FiNANciAl gRouP seRvices holdiNgs
558,145,000
10.6
136,327,000
4.9
21,952,000
(4.4)
338,331,000
15.3
12,454,000
(6.3)
49,081,000
9.2
163,007,000
23.5
31 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

TOP 10 LiSTS
REvEnUE GROWTH
FP50 totAl %
RANK comPANy Rev. $000s gRowth
17
37
44
46
42
10
9
47
31
29
ING Financial Partners 331,179 60.8
American Portfolios Financial Services 122,981 28.9
CFG/H. Beck 102,851 22.4
VSR Financial Services 99,251 19.7
ProEquities 105,421 17.6
Royal Alliance Associates 395,780 17.0
Cambridge Investment Research 396,929 17.0
Centaurus Financial 98,340 16.2
SII Investments 151,173 16.1
Multi-Financial Securities 164,804 16.0
HiGH-EnD REPS (TOP 20% OF REPS)
FP50 AveRAge % RePs
RANK comPANy PRoductioN $ $150K+
12
4
3
46
33
49
50
31
1
24
Wells Fargo Advisors Financial Network 911,619 88.0
Commonwealth Financial Network 895,567 74.0
Raymond James Financial Services 860,882 69.0
VSR Financial Services 893,701 62.0
CUNA Brokerage Services 550,000 61.0
Geneos Wealth Management 857,415 58.0
Investment Centers of America 594,231 54.0
SII Investments 702,606 46.0
LPL Financial 621,522 44.3
First Allied Securities 601,539 43.0
FEE-BASED Mix
Fee ReveNue Fee Rev.
RANK comPANy $000s As %
4
9
49
12
2
43
8
7
3
10
Commonwealth Financial Network 336,603 58.9
Cambridge Investment Research 221,285 57.5
Geneos Wealth Management 37,608 55.0
Wells Fargo Advisors Financial Network 173,300 48.1
Ameriprise Financial Services 1,207,417 47.5
Triad Advisors 46,958 47.3
Securities America 185,667 45.5
Northwestern Mutual 195,380 45.3
Raymond James Financial Services 411,556 42.7
Royal Alliance Associates 151,671 42.6
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 32
PAYOUT GROWTH
FP50 AveRAge %
RANK comPANy PAyout $000s gRowth
6
16
21
26
44
45
25
22
10
19
MetLife Securities 64 33.8
Waddell & Reed 112 29.9
New England Securities 93 29.9
Princor Financial Services 100 28.0
CFG/H. Beck 104 27.0
Allstate Financial Services 8 25.6
SagePoint Financial 116 25.3
Woodbury Financial Services 156 23.8
Royal Alliance Associates 183 23.6
FSC Securities 193 19.4
HiGH-EnD ACCOUnTS
FP50 totAl clieNt % Accts.
RANK comPANy Assets $000s $100K+
49
15
34
48
24
8
37
7
3
31
Geneos Wealth Management 8,436,000 60.0
National Planning 9,210,781 31.0
Cadaret Grant 5,887,380 29.0
Securities Service Network 11,956,770 29.0
First Allied Securities 21,592,720 28.0
Securities America 39,100,000 27.0
American Portfolios Financial Services 6,120,904 27.0
Northwestern Mutual 34,412,486 26.2
Raymond James Financial Services 142,344,546 26.0
SII Investments 4,178,481 26.0
nET CAPiTAL
Net cAPitAl Net excess
RANK comPANy $000s cAPitAl $000s
2
1
10
16
17
22
28
19
25
26
Ameriprise Financial Services 214,869 113,000
LPL Financial 100,944 93,916
Royal Alliance Associates 34,795 34,545
Waddell & Reed 34,524 34,274
ING Financial Partners 34,085 33,835
Woodbury Financial Services 28,261 28,011
PrimeVest Financial Services 24,265 23,948
FSC Securities 23,235 22,985
SagePoint Financial 21,246 20,996
Princor Financial Services 19,116 18,761

The results of our annual Independent Broker-Dealer
Survey are based on data provided by 76 participating
independent B-D firms. A few firms we contacted
did not respond to our request for information. Also, firms
we determined were not independents were excluded.
In these instances, the deciding factors usually were
whether reps could act independently in their practices,
effectively owned their client book or had independent
contractor status.
Financial Planning relied on the firms to ensure the
accuracy of their information. We worked to verify data
when warranted and list additional details below that
warranted further explanation. The data we list for 2011
do not always match last year’s survey because some
companies restated the numbers they submitted last year.
All figures reflect calendar-year 2011 and 2010 numbers.
Total revenues drive the FP50 charts. The Smaller
Firms page highlights the 26 firms whose revenues did
not qualify for the FP50. Firms with less than $7 million
in total revenues, or those that would not provide significant
information, were not included.
Endnotes
• Ameritas Investment: Total account assets
previously reported for 2010 only included assets
on clearing platforms.
• Centaurus Financial: Total account assets are for
Pershing only and do not include all total assets.
• LPL Financial: Results for 2011 include the
conversion of UVEST onto the LPL platform.
• Northwestern Mutual is the marketing name
for Northwestern Mutual Life Insurance and its
subsidiaries. Assets listed represent programs of
Northwestern Mutual Wealth Management Co.
and Investment Services.
• Woodbury Financial changed the way it reports
active client accounts to include those held directly
with product companies.
Total Revenues
Total revenues are derived from all commission, fee
and other revenues. Other firm revenue is from non-rep
sources (ancillary businesses, interest, etc.).
ExPLAnATORY nOTES
Reps & Production
Producing reps are those who were active independent
contractors as of Dec. 31 of each year and do not include
registered office staff and other assistants. Total payout
to reps includes bonuses and any other compensation.
Average payouts were calculated based on total payout
divided by the number of year-end producing reps.
The average payout may be lower than the actual average
production, since it includes reps who joined the firm in
the last year.
Commission & Fee-Based Products
All commission figures are net revenues to the B-D firm
(not gross sales). Alternative products include hedge funds,
commodities, managed futures and real estate investment
trusts. The REIT figures are included in the total alternative
revenue amount. Fee-based revenues are broken out,
where possible, by those received from accounts managed
by the reps, broker-dealer firm or third-party vendors.
Corporate Staff
The full-time staff count is for the headquarters of the
B-D only and does not include shared staff employed by a
parent company. Licensed professionals are staff members
who hold securities licenses. Recruiters and compliance
officials are full-time, nonclerical B-D employees.
Services & Fees
Yes and no questions on service offerings, as well
as ticket charges, were starting points for information;
details vary.
Clients & Accounts
Active accounts and assets reflect those held at a B-D
or its custody/clearing firm. Active accounts are those that
generate statements and hold assets. Figures don’t reflect
assets held at mutual fund or variable annuity companies.
Qualified plan accounts are IRAs, Roth IRAs and other
retirement plans held in custody for clients.
networks
This chart shows consolidated results for six major parent
companies that own multiple broker-dealer units.
Only individual broker-dealers that participated in the
survey are listed.
As always, we value your comments. Please email them to Financial Planning
Editor-in-Chief Scott Wenger at FP50Survey@sourcemedia.com.
33 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

RESOURCE DiRECTORY
AllstAte FinAnciAl services
2920 South 84th St.
Lincoln, Neb. 68506
Phone (877) 525-5725
Website allstate.com
Year founded 1999
ceO Robert Becker
clearing firm National Financial
Parent co. Allstate Insurance
Start a new day with Ameriprise
As America’s leader in financial
planning, we enable our advisors to do
what they always wanted to do—make
a real difference in their clients’ lives.
Because we know it’s not just about
ranking highly, it’s about doing what’s
right for advisors and clients.
STATS
Number of repS 7,532
AverAge pAyouT $292,200.00
CleAriNg firm Ameriprise Financial
e&o CoverAge Yes
yeAr fouNded 1894
ChAirmAN/Ceo Jim Cracchiolo
reCruiTiNg Manish Dave
exeCuTive
CoNTACT
Manish Dave, Vice President, Senior
Director, Business Development
1050 Ameriprise Financial Center,
Minneapolis, MN 55474
866-806-9984
www.joinameriprise.com/why
Statistics are for our independent
advisors. Brokerage, investment and
financial advisory services are made
available through Ameriprise Financial
Services, Inc. Member FINRA and
SIPC. Some products and services
may not be available in all jurisdictions
or to all clients.
Ameriprise Financial Services, Inc.
is an Equal Opportunity Employer.
© 2012 Ameriprise Financial, Inc.
All rights reserved.
AmericAn POrtFOliOs FinAnciAl services
4250 Veterans Memorial Highway
Suite 420E, Holbrook, N.Y. 11741
Phone (631) 439-4600
Website americanportfolios.com
Year founded 2001
ceO Lon T. Dolber
recruiting executive Timothy O’Grady
clearing firm Pershing
Parent co. American Portfolios Holdings
AmeriPrise FinAnciAl services
707 Second Ave. S., Minneapolis, Minn. 55474
Phone (612) 671-3131
Website ameriprise.com
Year founded 1894
ceO James Cracchiolo
recruiting executive Dave Manish
Parent co. Ameriprise Financial
AmeritAs investment
5900 O St., Lincoln, Neb. 68510
Phone (800) 335-9858
Website aicinvest.com
Year founded 1983
ceO/president Salene Hitchcock-Gear
recruiting executive Wendell Hutsell
clearing firms National Financial, Pershing, RBC Dain
Parent co. Ameritas Life Insurance
AXA AdvisOrs
1290 Ave. of the Americas, New York, N.Y. 10104
Phone (212) 554-1234
Website axa-equitable.com
Year founded 1999
ceO/president Christine Nigro
recruiting executive Cynthia Bodison
clearing firm LPL Financial
Parent co. AXA-Equitable
Berthel Fisher & cO. FinAnciAl services
701 Tama St., Building B, P.O. Box 609
Marion, Iowa 52302
Phone (319) 447-5700
Website berthel.com
Year founded 1985
ceO Thomas J. Berthel
recruiting executive Vern Coates
clearing firm National Financial
Parent co. Berthel Fisher & Co.
BrOker deAler FinAnciAl services
140 S. 68th St., West Des Moines, Iowa 50266
Phone (515) 727-6700
Website bdfs.com
Year founded 1979
ceO/president Timothy J. Lyle
recruiting executive Cheryl Johnson
clearing firm First Clearing
Parent co. BDFSC Holdings
cAdAret GrAnt
One Lincoln Center, Syracuse, N.Y. 13202
Phone (315) 471-2191
Website cadaretgrant.com
Year founded 1985
ceO/president Arthur F. Grant
recruiting executive Mark Waterman
clearing firm Pershing
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 34
cAmBridGe investment reseArch
1776 Pleasant Plain Road
Fairfield, Iowa 52556
Phone (800) 777-6080
Website joincambridge.com
Year founded 1981
ceO/chairman Eric Schwartz
recruiting executive Kyle Selberg
clearing firms National Financial, Pershing
The “cfd” “companies are financial
organizations dedicated to providing
Financial Advisers with the necessary
support, tools, techniques, quality
financial products, and technologies for
the achievement of their clients’ goals
and objectives through a team of home
office personnel commited to serving
advisers in a Christ-like manner.
STATS
Number of repS 170
AverAge pAyouT 75% to 92%
CleAriNg firm RBC and NFS
e&o CoverAge $1,800.00/annual
yeAr fouNded 1990
Ceo/preSideNT Brent Owens
reCruiTiNg Brent Owens
exeCuTive
CoNTACT
Brent Owens
2704 South Goyer
Kokomo, IN 46902
800-745-7776
Fax: 765-864-4080
www.joincfd.com
and www.cfdinvestments.com

centAurus FinAnciAl
2300 E. Katella Ave., Suite 200
Anaheim, Calif. 92806
Phone (800) 880-4234
Website centaurusfinancial.com
Year founded 1992
ceO/chairman James R. King
recruiting executive Robert E. Keilly
clearing firm Pershing
“Highest in Independent
Advisor Satisfaction Among
Financial Investment Firms”
two times in a row.
Commonwealth received the highest
score among independent advisors
in the J.D. Power and Associates
2010 and 2012 Financial Advisor
Satisfaction Studies. SM For J.D. Power
and Associates award information,
visit jdpower.com. For more on the
broker/dealer that’s client-forward,
visit commonwealth.com.
STATS*
Number of
AdviSorS 1,414
AverAge pAyouT $348,323.00
CleAriNg firm National Financial
Services LLC, a
Fidelity Investments
Company
e&o CoverAge $2,150
yeAr fouNded 1979
ChAirmAN Joseph S. Deitch
Ceo Wayne Bloom
reCruiTiNg Andrew Daniels
exeCuTive
CoNTACT
The Commonwealth Field
Development Team
866.462.3638
commonwealth.com
cFG/h. Beck
6600 Rockledge Drive, Sixth Floor
Bethesda, Md. 20817
Phone (800) 333-6884
Website cfginc.com
Year founded 1981
ceO/president Eric G. Meyers
recruiting executive Richard M. Merritt
clearing firm Pershing
Parent co. Securian Financial Group
cOmmOnWeAlth FinAnciAl netWOrk
One University Office Park
29 Sawyer Road
Waltham, Mass. 02453
Phone (866) 462-3638
Website commonwealth.com
Year founded 1979
ceO Wayne M. Bloom
recruiting executive Andrew Daniels
clearing firm National Financial
crOWn cAPitAl securities
725 Town and Country Road
Suite 530
Orange, Calif. 92868
Phone (800) 803-8886
Website crowncapitalsecurities.com
Year founded 1999
ceO Darol K. Paulsen
clearing firms National Financial, Pershing
cunA BrOkerAGe services
2000 Heritage Way
Waverly, Iowa 50677
Phone (800) 356-2644
Website cunamutual.com/cbsi
Year founded 1986
ceO Jim Metz
recruiting executive Linda DiOrazio
clearing firm Pershing
Parent co. CUNA Mutual Group
cusO FinAnciAl services
10455 Sorrento Valley Road #210
San Diego, Calif. 92121
Phone (858) 530 4480
Website cusonet.com
Year founded 1996
ceO/president Valorie Seyfert
recruiting executive Janine Holmes
clearing firm Pershing
FinAnciAl netWOrk investment
200 North Sepulveda Blvd.
Suite 1300
El Segundo, Calif. 90245
Phone (800) 879-8100
Website financialnetwork.com
Year founded 1983
ceO/president Jack Handy
recruiting executive Dylan Banionis
clearing firm Pershing
Parent co. Cetera Financial Group
First Allied securities
655 W. Broadway, 12th Floor
San Diego, Calif. 92101
Phone (619) 702-9600
Website joinfirstallied.com
Year founded 1994
ceO/president Adam Antoniades
recruiting executive Matthew Bassuk
clearing firm Pershing
Parent co. First Allied Holdings
FFS, LLC is a private community
of like-minded entreprenuers who
understand the benefits of shared
resources and shared values. Through
our full suite of B/D services, our
unique vision, and uncommon
approach, we empower our Member
Partners to understand the importance
of relationship in all they do.
It’s so powerful, it’s why we won
Broker Dealer of the Year in 2011.
Join the Revolution!
STATS
Number of repS +60
AverAge pAyouT $320,000.00
CleAriNg firm Pershing and TCA
e&o CoverAge $1million/$5million
yeAr fouNded 2006
Ceo/preSideNT Brad Shepherd
reCruiTiNg Jim DeCarlo
exeCuTive
CoNTACT
1020 Cromwell Bridge Road
Towson MD, 21286
888-523-1162
Fax: 410-308-9801
www.foundersfinancial.com
Founder’s Financial Securities, LLC is a member of
FINRA/SIPC and Registered Investment Advisor.
35 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

RESOURCE DiRECTORY
First midWest securities
207 W. Jefferson St., Suite 102
Bloomington, Ill. 61701
Phone (309) 820-7444
Website myFMSI.com
Year founded 1989
ceO Terry Buffalo
clearing firm Pershing
Parent co. Investment Co.
At FSC, our advisors benefit from
the resources we offer as part of one
of America’s largest networks of
independent advisors, combined
with an advisor-driven approach that
puts the “home” in home office. We
have 50 years of success supporting
advisors with an entrepreneurial
spirit just like yours.
STATS
Number of repS 1,125
AverAge pAyouT Up to 95%
CleAriNg firm Pershing, LLC and
National Financial
e&o CoverAge Yes
yeAr fouNded 1958
Ceo/preSideNT Jerry Murphy
reCruiTiNg Josh Hayes
exeCuTive
pAreNT CompANy Advisor Group
CoNTACT
Josh Hayes
2300 Windy Ridge Parkway
Atlanta, GA 30339
800-372-5646
Fax: 770-690-3853
www.JoinFSC.com
FOunders FinAnciAl securities
1020 Cromwell Bridge Road
Towson, Md. 21286
Phone (410) 308-9988
Website foundersfinancial.com
Year founded 2006
ceO/president Bradley M. Shepherd
recruiting executive Jim DeCarlo
clearing firm Pershing
Parent co. Founders Financial
Fsc securities
2300 Windy Ridge Parkway, Suite 1100
Atlanta, Ga. 30339
Phone (800) 547-2382
Website joinfsc.com
Year founded 1958
ceO/president Jerry Murphy
recruiting executive Josh Hayes
clearing firms National Financial, Pershing
Parent co. Advisor Group
GeneOs WeAlth mAnAGement
9055 E. Mineral Circle, Suite 200
Centennial, Colo. 80112
Phone (303) 785-8470
Website geneoswealth.com
Year founded 2002
ceO/president Russell Diachok
recruiting executive Ryan Diachok
clearing firms National Financial, Pershing
Parent co. GWM Holdings
GenWOrth FinAnciAl securities
200 N. Martingale Road
Schaumburg, Ill. 60173
Phone (888) 528-2987
Website genworthfinancialsecurities.com
Year founded 1981
ceO Enrique M. Vasquez
recruiting executive Michael Abramowicz
clearing firm Pershing
Parent co. Cetera Financial Group
hArBOur investments
575 D’Onofrio Drive, Suite 300
Madison, Wis. 53719
Phone (608) 662-6100
Website harbourinv.com
Year founded 1987
ceO/president Nick W. Sondel
recruiting executive Carina Saunders
clearing firms Pershing, Wedbush Morgan
h. d. vest FinAnciAl services
6333 N. State Highway 161
Fourth Floor
Irving, Texas 75038
Phone (972) 870-6000
Website hdvest.com
Year founded 1983
ceO/president Roger Ochs
recruiting executive Mark Ellison
clearing firm First Clearing
Parent co. Parthenon Capital Partners
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 36
hOrnOr tOWnsend & kent
600 Dresher Road, Suite C1C
Horsham, Pa. 19044
Phone (800) 225-7637
Website htk.com
Year founded 1969
ceO Michelle Barry
recruiting executive Phil D’Ambrisi
clearing firm Pershing
Parent co. Penn Mutual Life Insurance
Founded in 1982, INVEST Financial
is a full-service multi-channel broker/
dealer. As an industry leader in both the
independent representative channel
and financial institution channel, INVEST
prides itself in its commitment to provide
Financial Advisors with the essential
tools, products, practice management
support, resources and technology to
service their clients effectively.
STATS
Number of repS 1,182
AverAge pAyouT 89% - 95%
CleAriNg firm Pershing LLC or
National Financial
Services
e&o CoverAge Included in monthly
fee of $283.00
yeAr fouNded 1982
Ceo/preSideNT Steve Dowden
reCruiTiNg Sharon Flaspohler
exeCuTive and Bessie Savery
pAreNT CompANy National Planning
Holdings
CoNTACT
New Business Development Team
8745 Henderson Road, Suite 300
Tampa, FL 33634
800-245-4732
Fax: 813-890-6412
www.investfinancial.com
F
is
d
in
a
p
F
to
s
s
S
N
A
C
e
y
C
r
e
p
C
S
8
T
8
F
w

indePendent FinAnciAl GrOuP
12636 High Bluff Drive, Suite 100
San Diego, Calif. 92130
Phone (800) 269-1903
Website ifgsd.com
Year founded 2003
ceO/managing director Joe H. Miller
recruiting executive David A. Fischer
clearing firm Pershing
Our promise is simple—outstanding
service, continuing education and access
to the resources to help our advisors
maintain their competitive edge. Our
growth is not about the numbers, it’s
about relationships, with our employees,
representatives and families. This is
the force that drives us—not to be the
biggest, but the best.
STATS
Number of repS 475
AverAge pAyouT Up to 92%
CleAriNg firm Pershing
e&o CoverAge $2mm per claim/
$10mm aggregate
yeAr fouNded 2003
Ceo/preSideNT Joe Miller
reCruiTiNg David Fischer
exeCuTive
CoNTACT
David Fischer
dfischer@ifgsd.com
12671 High Bluff Drive, Suite 200
San Diego, CA 92130
800-269-1903
Fax: 858-481-9033
www.ifgsd.com
inG FinAnciAl PArtners
909 Locust St.
Des Moines, Iowa 50309
Phone (800) 356-2906
Website ingfinancialpartners.com
Year founded 1968
ceO/president Karl Lindberg
recruiting executive Bonnie Reed
clearing firm Pershing
Parent co. ING Group
investAcOrP
4400 Biscayne Blvd., Miami, Fla. 33137
Phone (305) 557-3000
Website investacorp.com
Year founded 1978
ceO/president Patrick Farrell
recruiting executive Brian Kovener
clearing firm National Financial
Parent co. Ladenburg Thalmann Financial Services
invest FinAnciAl
8745 Henderson Road, Suite 300
Tampa, Fla. 33634
Phone (813) 289-0722
Website investfinancial.com
Year founded 1982
ceO/president Steve Dowden
recruiting executive Business Development Team
clearing firms National Financial, Pershing
Parent co. National Planning Holdings
investment centers OF AmericA
212 North Fourth St.
Bismarck, N.D. 58501
Phone (800) 544-7113
Website joinica.com
Year founded 1985
ceO/president Greg Gunderson
recruiting executive Charlotte Aldinger
clearing firm Pershing
Parent co. National Planning Holdings
investOrs cAPitAl
230 Broadway
Lynnfield, Mass. 01940
Phone (800) 949-1422
Website investorscapital.com
Year founded 1992
ceO Timothy B. Murphy
recruiting executive Doug Wallace
clearing firm Pershing
Parent co. Investors Capital Holdings
JOhn hAncOck FinAnciAl netWOrk
197 Clarendon St., C-8
Boston, Mass. 02117
Phone (617) 572-6524
Website jhnetwork.com
Year founded 1968
ceO/president Brian Heapps
recruiting executive Julie (Jake) Clark
clearing firm National Financial
Parent co. John Hancock/Manulife
J. P. turner
One Buckhead Plaza
3060 Peachtree Road NW
11th Floor
Atlanta, Ga. 30305
Phone (404) 479-8300
Website jpturner.com
Year founded 1997
ceO/founding partner Tim McAfee
recruiting executive Al Pierantozzi
clearing firm Penson
your life. your business. your way.
Most independent firms offer
comparable products, services and
payout. So, how do you sort through
the sameness to find a firm whose
people take a true interest in your
success, explore your ideas and help
you build your business your way?
By contacting us.
STATS
Number of repS 545
AverAge pAyouT 90%
CleAriNg firm Penson
Financial Services
e&o CoverAge $250 per month
yeAr fouNded 1997
Coo Dean Vernoia
reCruiTiNg Al Pierantozzi
exeCuTive
CoNTACT
Al Pierantozzi,
National Sales Manager
One Buckhead Plaza
3060 Peachtree Rd NW, 11th Floor
Atlanta, GA 30305
800-793-2675
www.joinjpturner.com
Member SIPC
37 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

RESOURCE DiRECTORY
J. W. cOle FinAnciAl
6928 W. Linebaugh Ave., Tampa, Fla. 33625
Phone (866) 592-6531
Website joinjw-cole.com
Year founded 2002
ceO R. J. Wood
recruiting executive John Carlson
clearing firm National Financial
Operating almost 3 decades,
PlanMember Securities specializes
in supporting independent advisors
and groups in growing their fee-based
practices, particularly in the qualifiedplan
market. Offering competitive
payouts, proven marketing campaigns,
top-notch technology and a quality
transition team, PlanMember’s 450
advisors are supported by 125 home
office staff resulting in excellent service
and happy advisors.
STATS
Number of repS 450
AverAge pAyouT 88%
CleAriNg firm Pershing, LLC
e&o CoverAge $1,830.00
yeAr fouNded 1982
Ceo/preSideNT Jon Ziehl
reCruiTiNg Al Close, Sr. VP
exeCuTive
pAreNT CompANy PlanMember
Financial Corporation
CoNTACT
Wesley Dickerson
6187 Carpinteria Avenue
Carpinteria, CA 93013
800-874-6910 ext 2556
Fax: 800-614-8522
www.JoinPlanMember.com
kms FinAnciAl services
2001 Sixth Ave., Suite 2801
Seattle, Wash. 98121
Phone (206) 441-2885 ext. 202
Website kms.com
Year founded 1971
ceO/chairman Mark Hamby
clearing firm Pershing
kOvAck securities
6451 N. Federal Highway, Suite 1201
Ft. Lauderdale, Fla. 33308
Phone (866) 564-6574
Website joinksi.com
Year founded 1997
ceO/chairman Ronald J. Kovack
recruiting executive Carlo A. Bidone
clearing firms National Financial, Pershing
lArsOn FinAnciAl securities
1015 Corporate Square Drive, Suite 300
St. Louis, Mo. 63132
Phone (314) 787-7436
Website larsonfinancial.com
Year founded 2010
ceO/president Paul D. Larson
recruiting executive Ashlie Pinson
Parent co. Larson Financial Holdings
lAsAlle st. securities
940 N. Industrial Drive
Elmhurst, Ill. 60126
Phone (630) 600-0500
Website joinlasallest.com
Year founded 1974
ceO Jack McDermott
recruiting executive Todd Morgan
clearing firm National Financial
lPl FinAnciAl
One Beacon St., 22nd Floor
Boston, Mass. 02108
Phone (888) 250-2420
Website joinlpl.com
Year founded 1968
ceO/chairman Mark Casady
recruiting executive William Morrissey
clearing firm LPL Financial
Parent co. LPL Holdings
metliFe securities
1095 Ave. of the Americas, New York, N.Y. 10036
Phone (888) 883-4684
Website metlife.com
Year founded 1983
ceO/chairman John J. Brett
clearing firm Pershing
Parent co. MetLife
m hOldinGs securities
1125 NW Couch St., Suite 900,
Portland, Ore. 97209
Phone (888) 520-6784
Website mfin.com
Year founded 2000
ceO/president Kenneth R. Ehinger
recruiting executive Connie Morrison
clearing firm Pershing
Parent co. M Financial Group
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 38
mml investOrs services
1295 State St.
Springfield, Mass. 01111
Phone (800) 542-6767
Website mmlinvestors.com
Year founded 1981
ceO/president John A. Vaccaro
recruiting executive Ed Pelis
Parent co. Massachusetts Mutual Life Insurance
Questar Capital Corporation gives you
the freedom to succeed. With a culture
of service and support, our expansive
product shelf, and the strength of our
affiliation with Allianz Life Insurance
Company of North America, we offer
independent representatives the
freedom and flexibility to run your
business, your way.
STATS
Number of repS 600
AverAge pAyouT 90%
CleAriNg firm Pershing LLC
e&o CoverAge 1 million
aggregate coverage
yeAr fouNded 1997
Ceo/preSideNT Kevin S. Bachmann,
CLU, ChFC
reCruiTiNg Alex Barned
exeCuTive
pAreNT CompANy Allianz Life
Insurance Company
of North America
CoNTACT
Alex Barned
Questar Capital Corporation
5701 Golden Hills Drive
Minneapolis, MN 55416-1297
888-446-5872
www.Questarcapital.com

multi-FinAnciAl securities
4600 Syracuse St., Suite 600
Denver, Colo. 80237
Phone (800) 929-3485
Website multifinancial.com
Year founded 1981
ceO/president Brett Harrison
recruiting executive Jay Vinson
clearing firm Pershing
Parent co. Cetera Financial Group
Raymond James Financial Services
is the independent broker/dealer
subsidiary of Raymond James Financial
(NYSE-RJF). For almost 40 years, RJFS
has been providing top independent
financial advisors with industry-leading
support and technology, including
award winning equity research, asset
management, investment banking,
wealth solutions, insurance, trust, and
marketing services.
STATS
Number of repS 3,202
AverAge pAyouT 92%
CleAriNg firm Raymond James
& Associates
e&o CoverAge $295/month admin.
fee that includes
E&O
yeAr fouNded 1974
Ceo/preSideNT Scott Curtis
reCruiTiNg Scott Curtis
exeCuTive
CoNTACT
Raymond James
AdvisorChoice
880 Carillon Parkway
St. Petersburg, FL 33716
877-904-6333
Fax: 727-567-8137
www.advisorchoice.com
nAtiOnAl PlAnninG
401 Wilshire Blvd., Suite 1100
Santa Monica, Calif. 90401
Phone (800) 881-7174
Website natplan.com
Year founded 1998
ceO Lynn R. Niedermeier
recruiting executive John C. Johnson
clearing firm Pershing
Parent co. National Planning Holdings
neW enGlAnd securities
1095 Ave. of the Americas
New York, N.Y. 10036
Phone (888) 883-4684
Website nef.com
Year founded 1968
ceO John J. Brett
clearing firm Pershing
Parent co. MetLife
neXt FinAnciAl GrOuP
2500 Wilcrest Drive, Suite 620
Houston, Texas 77042
Phone (877) 876 6398
Website nextfinancial.com
Year founded 1999
ceO/president Barry Knight
recruiting executive Brian Grise
clearing firm Pershing
Parent co. NEXT Financial Holdings
nFP AdvisOr services GrOuP
(And AFFiliAtes)
1250 S. Capital of Texas Highway Building 2,
Suite 125
Austin, Texas 78746
Phone (512) 697-6000
Website nfp.com
Year founded 1996
ceO/president James Poer
recruiting executive Kenneth Jones
clearing firm National Financial
Parent co. NFP
nOrthWestern mutuAl
611 East Wisconsin Ave.
Milwaukee, Wis. 53202
Phone (800) 323-7033
Website northwesternmutual.com
Year founded 1968
ceO/president Calvin R. Schmidt
recruiting executive Cynthia A. Criss
clearing firm Pershing
Parent co. Northwestern Mutual
O.n. equitY sAles
One Financial Way
Cincinnati, Ohio 45242
Phone (513) 794-6794
Website onesco1.com
Year founded 1968
President/cOO Barbara A. Turner
recruiting executive Tim Minton,
Adam Mackintosh
clearing firm Pershing
Parent co. Ohio National Life Insurance
PArk Avenue securities
7 Hanover Square
New York, N.Y. 10004
Phone (888) 600-4666
Website guardianlife.com
Year founded 1999
ceO/president Jill Cooley
clearing firm National Financial
Parent co. Guardian
Royal Alliance is built for entrepreneurial
advisors driven to grow a superior
financial practice. When you join us,
you join a successful group of achievers
who share your goals, understand
your challenges, and who appreciate
the resources, capital, technology and
experience of one of America’s largest
networks of independent advisors.
STATS
Number of repS 1,793
AverAge pAyouT Up to 95%
CleAriNg firm Pershing LLC and
National Financial
Services
e&o CoverAge $2,550.00
yeAr fouNded 1989
Ceo/preSideNT Arthur Tambaro
reCruiTiNg Kevin Beard
exeCuTive
pAreNT CompANy Advisor Group
CoNTACT
Kevin Beard
One World Financial Center
New York, NY 10281
866-849-7673
Fax: 212-551-5380
www.RoyalAlliance.com
39 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

RESOURCE DiRECTORY
Primevest FinAnciAl services
400 First St. S., Suite 300
St. Cloud, Minn. 56301
Phone (800) 245-0467
Website primevest.com
Year founded 1984
ceO/president Catherine M. Bonneau
recruiting executive Sean Casey
Parent co. Cetera Financial Group
SagePoint advisors enjoy the best of
both worlds—big-firm resources with
a small-firm feel. Share the advantages
of being part of one of the largest
independent broker-dealer networks
in the industry, with a nationally
recognized technology platform,
as well as the tools and flexibility
to grow your business, your way.
STATS
Number of repS 1,683
AverAge pAyouT 92%
CleAriNg firm Pershing, LLC and
National Financial
e&o CoverAge Yes
yeAr fouNded 1970
Ceo/preSideNT Jeffery Auld
reCruiTiNg Dee Morgan
exeCuTive
pAreNT CompANy Advisor Group
CoNTACT
Dee Morgan
2800 N. Central Avenue
Phoenix, AZ 85004
866-462-4432
Fax: 602-567-6405
www.SagePointFinancial.com
PrincOr FinAnciAl services
711 High St.
Des Moines, Iowa 50392
Phone (888) 774-6267
Website princor.com
Year founded 1968
ceO/president Mike Beer
recruiting executive Julie LeClere
clearing firm Pershing
Parent co. Principal Life
PrOequities
2801 Highway 280 S., Birmingham, Ala. 35223
Phone (800) 288-3035
Website proequities.com
Year founded 1984
ceO/president Mike Mungenast
recruiting executive Chris Corts
clearing firm Pershing
Parent co. Protective Life
PrOsPerA FinAnciAl services
5429 LBJ Freeway, Suite 400
Dallas, Texas 75240
Phone (972) 581-3000
Website joinprospera.com
Year founded 1982
ceO/president David W. Stringer
recruiting executive Tarah M. Carlow
clearing firm First Clearing
questAr cAPitAl
5701 Golden Hills Drive
Minneapolis, Minn. 55416
Phone (888) 446-5872
Website questarcapital.com
Year founded 1997
ceO/president Kevin S. Bachmann
recruiting executive Alex S. Barned
clearing firm Pershing
Parent co. Allianz Life Insurence Co.
of North America
rAYmOnd JAmes FinAnciAl services
880 Carillon Parkway
St. Petersburg, Fla. 33716
Phone (800) 998-7537
Website advisorchoice.com
Year founded 1974
chairman Richard G. Averitt III
recruiting executive Scott Curtis
clearing firm Raymond James
Parent co. Raymond James Financial
rOYAl AlliAnce AssOciAtes
One World Financial Center, 15th Floor
New York, N.Y. 10281
Phone (800) 821-5100
Website royalalliance.com
Year founded 1989
ceO/president Arthur Tambaro
recruiting executive Kevin Beard
clearing firms National Financial, Pershing
Parent co. Advisor Group
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 40
sAGePOint FinAnciAl
2800 N. Central Ave., Suite 2100
Phoenix, Ariz. 85004
Phone (866) 462-4432
Website sagepointfinancial.com
Year founded 1970
ceO/president Jeff Auld
recruiting executive Dee Morgan
clearing firms National Financial, Pershing
Parent co. Advisor Group
Since 1983, SSN has provided
independence to independent advisors
through higher payouts, awardwinning
service and support, and one
of the most responsive compliance
teams in the country. If you expect
people who answer the phone and
know your name, responsive service,
streamlined transition, and practice
development—all with a better payout
—it’s time to grow with SSN.
STATS
Number of repS 484
AverAge pAyouT $185,185
CleAriNg firm National Financial
& Pershing
e&o CoverAge $2,400.00/annual
yeAr fouNded 1983
Ceo/preSideNT Wade S. Wilkinson
reCruiTiNg Michael Neubeck
exeCuTive
CoNTACT
Michael Neubeck
9729 Cogdill Road, Suite 301
Knoxville, TN 37932
866-218-7908
Fax: 865-777-4681
www.joinSSN.com

securiAn FinAnciAl services
400 Rober St. N., St. Paul, Minn. 55101
Phone (888) 237-1838
Website securianfinancial.com
Year founded 1984
ceO George Connolly
recruiting executive Robert Subjects
clearing firm Pershing
Parent co. Securian Financial Group
With a commitment to personal
service, Sigma Financial Corporation
partners with financial advisors
looking to grow their practices in
a professional and ethical manner.
We provide comprehensive financial
planning tools, products, and services
which allow our representatives
to help Middle American Investors
achieve financial success.
STATS
Number of repS 621
AverAge pAyouT 80-90%
CleAriNg firm National Financial
Services, LLC
e&o CoverAge $199/mo
yeAr fouNded 1983
Member FINRA/SIPC
Ceo/preSideNT Jerry Rydell
reCruiTiNg Jennifer Bacarella
exeCuTive
CoNTACT
Eric Millican,
Firm Development Coordinator
4261 Park Road
Ann Arbor, MI 48103
888-744-6264
Fax: 734-205-3547
www.sigmafinancial.com
securities AmericA
12325 Port Grace Blvd., La Vista, Neb. 68128
Phone (800) 747-6111
Website joinsai.com
Year founded 1984
ceO/president Jim D. Nagengast
recruiting executive Gregg H.Johnson
clearing firms National Financial, Pershing
Parent co. Ladenburg Thalmann
Financial Services
securities service netWOrk
9729 Cogdill Road, Suite 301, Knoxville, Tenn. 37932
Phone (866) 218-7908
Website joinSSN.com
Year founded 1983
ceO/president Wade S. Wilkinson
recruiting executive Michael Neubeck
clearing firms National Financial, Pershing
siGmA FinAnciAl
4261 Park Road, Ann Arbor, Mich. 48103
Phone (888) 744-6264
Website sigmafinancial.com
Year founded 1983
ceO/president Jerome S. Rydell
recruiting executive Jennifer Bacarella
clearing firm National Financial
sii investments
5555 Grande Market Drive, Appleton, Wis. 54913
Phone (800) 426-5975
Website siionline.com
Year founded 1968
ceO/president Todd Kinart
recruiting executive Steve Van Domelen
clearing firm Pershing
Parent co. National Planning Holdings
sterne AGee FinAnciAl services
800 Shades Creek Parkway, Suite 575
Birmingham, Ala. 35209
Phone (800) 292-2411
Website sterneagee.com
Year founded 1986
ceO/presidentJay Carter
recruiting executive Stephen O’Neill
clearing firm Sterne Agee
Parent co. Sterne, Agee & Leach Group
summit BrOkerAGe services
595 S. Federal Highway, Suite 500
Boca Raton, Fla. 33432
Phone (800) 354-5528
Website joinsummit.com
Year founded 1993
ceO/chairman Marshall T. Leeds
recruiting executive Vincent A. Chiera
clearing firms First Clearing, Pershing
Parent co. Summit Financial Services Group
tOWer squAre securities
1095 Ave. of the Americas, New York, N.Y. 10036
Phone (888) 883-4684
Website towersquare.com
ceO John J. Brett
recruiting executive Craig W. Markham
clearing firm Pershing
Parent co. MetLife
trAnsAmericA FinAnciAl AdvisOrs
570 Carillon Parkway, St. Petersburg, Fla. 33716
Phone (800) 742-9984
Website tfa.transamerica.com
Year founded 1984
ceO/president Seth Miller
recruiting executive Tiffany Taylor
clearing firm Pershing
Parent co. AEGON
Sterne Agee Financial Services,
Inc., Member FINRA/SIPC is a part
of a privately owned, self-clearing
financial services company with over
100 years of tradition serving the
needs of investment professionals
and their clients.
STATS
Number of repS 273
AverAge pAyouT 90%
CleAriNg firm Sterne, Agee &
Leach, Inc.
e&o CoverAge Yes
yeAr fouNded 1986 (parent company
founded in 1901)
Ceo/preSideNT Jay W. Carter
reCruiTiNg Stephen O’Neill
exeCuTive
pAreNT CompANy Sterne Agee Group, Inc.
CoNTACT
800 Shades Creek Parkway, Suite 575
Birmingham, AL 35209
205-414-3349
Fax: 205-414-3200
www.sterneagee.com
41 Broker-Dealer Guide / SourceMedia Marketing Solutions Group

RESOURCE DiRECTORY
triAd AdvisOrs
5185 Peachtree Parkway, Suite 280
Norcross, Ga. 30092
Phone (800) 720-4003
Website triad-advisors.com
Year founded 1998
ceO/president Mark Mettelman
recruiting executive Nathan Stibbs
clearing firm National Financial
Parent co. Ladenburg Thalmann Financial Services
Over the past 26 years The Investment
Center has been fortunate to share in
tremendous industry developments
including the proliferation of fee based
products, technological advances
beyond our expectations and the ability
to bring broad and in depth product
selections to our advisors. No one
can predict what the next 26 years will
bring, but one thing is certain: we will
continue to provide the best service in
the industry.
STATS
Number of repS 300
AverAge pAyouT 90%
CleAriNg firm Pershing
e&o CoverAge $2,700.00/annual
yeAr fouNded 1986
Ceo/preSideNT Ralph J. DeVito
reCruiTiNg Shaun Rose
exeCuTive
CoNTACT
Jim Zerweck
1420 US Highway 206 North
Bedminster, NJ 07921
800-345-8041
Fax: 908-719-6486
www.investmentctr.com
united PlAnners
7333 E. Doubletree Ranch Road, Suite 120
Scottsdale, Ariz. 85258
Phone (800) 966-8737
Website JoinUnitedPlanners.com
Year founded 1987
ceO/president Thomas H. Oliver
recruiting executive Sheila Cuffari
vsr FinAnciAl services
8620 W. 110th St., Overland Park, Kan. 66210
Phone (913) 498-2900
Website joinvsr.com
Year founded 1985
ceO James M. Stanfield
recruiting executive James Blosser
clearing firm First Clearing Pershing
WAddell & reed
6300 Lamar Ave., Overland Park, Kan. 66202
Phone (913) 236-2000
Website joinwaddell.com
Year founded 1937
ceO/chairman Henry J. Herrmann
recruiting executive Todd Esh, Cathie Suchecki
clearing firm Pershing, Waddell & Reed
Parent co. Waddell & Reed Financial
WAlnut street securities
1095 Ave. of the Americas, New York, N.Y. 10036
Phone (888) 883-4684
Website walnutstreet.com
Year founded 1985
ceO John J. Brett
recruiting executive Craig Markham
clearing firm Pershing
Parent co. MetLife
Wells FArGO AdvisOrs FinAnciAl netWOrk
1 North Jefferson St., St. Louis, Mo. 63109
Phone (866) 485-5383
Website wfafinet.com
Year founded 2001
ceO/president John Peluso
recruiting executives Ron Sallet, Alex David
clearing firm Wells Fargo
Parent co. Wells Fargo
WFG investments
2711 N. Haskell Ave., Suite 2900
Dallas, Texas 75204
Phone (800) 225-3650
Website williams-financial.com
Year founded 1988
ceO/president Wilson Williams
recruiting executive John Carruth
clearing firms National Financial, Pershing
Parent co. Williams Financial Group
WOOdBurY FinAnciAl services
500 Bielenberg Drive, Woodbury, Minn. 55125
Phone (800) 800-2638
Website woodburyfinancial.com
Year founded 1910
ceO/chairman Patrick H. McEvoy
recruiting executive Gary N. Bender
clearing firm Pershing
Parent co. Hartford Life
Broker-Dealer Guide / SourceMedia Marketing Solutions Group 42
WrP investments
4407 Belmont Ave.
Youngstown, Ohio 44505
Phone (800) 589-2023
Website wrpinvestments.com
Year founded 1976
ceO David M Pintaric
recruiting executives Mark E. Hugo, Marty A. Cline
clearing firm National Financial
Woodbury Financial Services is a
relationship-based, independent
broker-dealer that delivers ultimate
choice. You choose how to join us,
get paid, and run your business,
allowing you to utilize our services
and support to your advantage. Our
entrepreneurial model allows you,
not your broker-dealer, to benefit
the most from your production.
STATS
Number of repS 1,400
AverAge pAyouT Up to 95%
CleAriNg firm Pershing LLC
e&o CoverAge Alliant Insurance
yeAr fouNded 1910
Ceo/preSideNT Patrick H. McEvoy
reCruiTiNg Gary N. Bender
exeCuTive
pAreNT CompANy The Hartford
CoNTACT
Gary N. Bender,
SVP Acquisition and Retention
500 Bielenberg Drive
Woodbury, MN 55125
800-800-2638, ext. 21800
Fax: 877-337-4766
www.joinwoodbury.com

AdvisorTV is a new addition to
the information messaging being
presented online by the marketleading
brands of Financial
Planning, On Wall Street and
Bank Investment Consultant.
It features a collection of web videos that present
intelligent, in-depth interviews with high-profi le
economists, commentators, analysts, money managers
and recruiters to visually inform and engage the advisor
audiences of each brand.
Beyond that, AdvisorTV also offers in-depth one-onone
conversations between industry experts and the
editorial staffs of each brand; along with the Wealth
Management Minute, a brief chat featuring the best
minds in the industry on this subject area.
AdvisorTV – Now Showing on:
Financial Planning
http://www.fi nancial-planning.com/video
On Wall Street
http://www.onwallstreet.com/video
Bank Investment Consultant
http://www.bankinvestmentconsultant.com/video