It’s not every day one of the 10 largest independent broker/dealers announces they’ve made financial institution investment programs a priority. But, that’s what Securities America disclosed to their employees in September and are now announcing to the public.
The Omaha, Neb., based company hopes to compete with the top names among third-party marketers, or broker-dealers who cater to banks and credit unions, said newly appointed CEO Jim Nagengast. “We have proven expertise at growing assets under management and see no one who has matched our offering in retirement distribution, which is a core competency if you want to be a leader in the fee business,” he said. “I don’t see our competitors matching us in those areas.” Currently the biggest players in the space include LPL, Raymond James, Primevest, Invest and Essex.
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