Here are the results of BIC's 2009 Top Program Managers competition. We received a ton of entries this year, the second in the award's history, and what a lineup it is. Last month's cover story put industry average production per rep at $273,100, according to American Brokerage Consultants figures, but our BIC 2009 Top Program Managers' average per rep is more than double that, at $565,256.

This year also shows a vast diversity in program types and sizes. Of the winners, nine manage between three (the competition's minimum) and five advisors. But the entrants weren't limited to small programs. Two of the country's most successful program managers oversee 10 advisors; five manage between 20 and 30 reps; two manage around 50 advisors; and two more have beaten the detrimental effect of large-scale averaging with programs of about 100 producers.

The results were geographically diverse as well, although the southern states generally fared better in this ranking. Texas with four is home to the most Top Program Managers, and Tennessee and Virginia make respectable showings with two each. Alabama, Florida and Louisiana round out the southern states.

California is the runner-up with three top managers, and two winners are from New York. Ranking managers from Arizona, Colorado, Indiana and New Jersey show, though, that with geographical diversity like this, winning is all about who you are, not where you're from.

There was, however, a significant slant toward the male side of the equation. Bearing in mind that two of the programs are co-managed by a team, men outnumbered women 18 to four. Given that women make up less than a third of the industry, this isn't surprising. Only five of BIC's Top 50 Bank Reps were women. And there are no blacks or Asians in the ranking. Clearly, our industry continues to fall flat on diversity in both gender and race, and has failed to reflect the melting pot of clients it serves.

Nonetheless, the achievements of the top 20 are impressive, with a strikingly high average production per rep. This we believe is the most logical and concrete measure of program performance. So hats off to this year's competition winners. Keep checking in at bankinvestmentconsultant.com for forums and events featuring the industry's best and brightest managers.

1

RON FLAIANI

Bank/TPM: Fremont Bank/LPL

Location: Fremont, Calif.

No. of reps managed: 4

Avg. production per rep: $810,654

Total program assets 2008: $255 million

Total program assets 2007: $248 million

Years at the bank: 5

Age of program: 12

Product mix: VAs 29%, mutual funds 25%, money market funds 23%, FAs 23%

Total clients: 2,152

Avg. client account size: $75,436

% fee based/commission: 12/88

Avg. rep experience: 23 years

No. of sales assistants: 2

% of reps who have CFPs or advanced designations: 0

% of new assets from inside/outside the bank: 75/25

Ron Flaiani, the program manager at Fremont Bank located in a wealthy suburb of San Francisco, modestly credits his success to his "phenomenal team." But his leadership is in equal part responsible for his program's success. "The past seven months have been interesting at best," he says. "I tell my advisors that now is the time to be in front of their clients, which is why we've seen our business grow despite adverse market conditions."

Under Flaiani's leadership, Adam Nieto, one of the bank's star advisors, has grown his production from about $500,000 when Flaiani took over the program five years ago to $1.3 million today. Flaiani, who serves as OSJ, prides himself on his program's strong operational support. His office approves all paperwork directly, so reps can be absolutely sure all transactions go through promptly and the first time.

Flaiani also makes sure his department is a visible and equal part of Fremont Bank's team. "I hire people who fit the bank culture as well as with our group," he says. "I want advisors who can grow business among the bank's internal centers of influence as well as through their clients."

Flaiani works closely with retail bank heads to develop effective referral programs in the branches and has CEO Brad Anderson send out the memos to emphasize the seriousness of these initiatives among rank-and-file retail bankers. He also sits in on the bank's commercial loan approval committee meetings, partly to remind loan officers to consider their clients' investment needs too.

Working with Fremont's wealthy clientele has its perks. The bank makes five houses in the Carmel area and another in Palm Desert available for advisors to entertain their top clients. "Most producers don't have these options," Flaiani says. But emphasis isn't just on A clients: Flaiani is actively looking to expand his team of 11 platform reps, so there is someone to help clients meet their investment needs in each of the bank's 24 branches.