september 2016 all-new curriculum at assistant university and principal meeting …€¦ · ·...

Special Feature Issue: ASSISTANTS and PRINCIPALS

Assistant University and Principal Meeting Oct. 6-7

ALL-NEW CURRICULUM ATSEPTEMBER 2016

ALSO INSIDE:

Assistant of the YearPrincipal of the YearAssistant Training Resources

A Bi-monthly Publication from Your Business Growth Expert

DOL Rule Causing Advisors to Rethink Need for Their Own RIASpotlight: Nicola NicholFinancial Institutions Conference Recap

Assistant University

October 6-7, 2016 . Omaha, Neb. . Register Online Today!

The deadline for hotel reservations is Sept. 9!

• Invest in your continued training and development

• Connect with Securities America’s Supervision Team

• Exchange insights with principals from around the country

In an ever-changing world of compliance...Be Prepared. Be Informed. Be Successful.

Principal Meeting

Specifically designed to help acting principals and OSJs, Principal Meeting will enhance your knowledge and abilities to better fulfill your compliance management responsibilities.


The deadline for hotel reservations is Sept. 9!

Assistant University will empower staff of all experience levels to help their advisors build better, stronger and more efficient businesses. Your team will work directly with experts and network with professional colleagues from around the country as they

• Discover ways to streamline business• Explore new technology offerings• Learn how the DOL rule affects the business• Identify resources to increase productivity

Empower Your Team.New Speakers. New Sessions. New Technology.

SEPTEMBER 2016 | The STAR 2

Contents SEPTEMBER 2016

Feature: Assistants and Principals

7 All-New Curriculum at Assistant University and Principal Meeting Oct. 6-7

11 Assistant of the Year Love of People and Service Earns Nelson 2015 Assistant of the Year

13 Principal of the Year Right Balance of Rapport and Due Diligence Earns Wolfe 2015 Distinguished Principal Award

15 Assistant Training Resources Training Tools Designed for Assistants

Need to Know

3 News and Announcements

4 Upcoming Conferences

4 Media Mentions

5 Advisor News

6 Welcome New Advisors

17 Technology Notes

Columns

19 Technology Dashboards Put a Wealth of Information at Your Fingertips

23 DOL Fiduciary Rule DOL Rule Causing Advisors to Rethink Need for Their Own RIA

27 Spotlight - Nicola Nichol Branching Out

31 Practice Management Find Training Tools Quickly and Easily with the New Training Resource Library

33 Rep Relations Center The Next Step in Workforce Management

35 Financial Institutions Securities America Financial Institutions Conference Attendees Enjoy Two Days of Learning and Networking

37 FSI Update Building Bipartisan Support for the Senior Safe Act

Connect with Us

FACEBOOKfacebook.com/SecuritiesAmericaInc

TWITTERtwitter.com/SecuritiesAm

LINKEDINlinkedin.com/company/securities-america-inc

YOUTUBEyoutube.com/SecuritiesAmericaInc

StarThe

35277


3 The STAR | SEPTEMBER 2016

2016 Second Quarter Technology Update

Take a look at this new video to see recent updates to Securities America’s technology, as well as what’s coming in the future and important reminders and announcements.

Watch Video

Richard Lampen to Serve as Financial Services Institute’s 2017 Chair of the Board

Securities America’s parent company, Ladenburg Thalmann, announced the appointment of Richard Lampen, Ladenburg’s president and chief executive officer, as the 2017 Chair of the Financial Services

Institute’s (FSI) Board of Directors. FSI is an advocacy organization for independent broker-dealers and independent financial advisors.

Dale Brown, FSI president and CEO, said, “Dick is well suited to lead FSI as chair given his familiarity with the vast opportunities and challenges facing the financial services industry from his role overseeing Ladenburg’s network of firms in the independent broker-dealer and

advisory space. We look forward to working with Dick as our industry continues to grow and we continue to fulfill our mission to best help our advisors serve their clients.”

“I am excited and honored to serve as the 2017 chair for the FSI Board,” said Lampen. “In my current role as vice chair, I have witnessed first-hand the tremendous impact that FSI has on the industry and look forward to continuing the important work we are doing to ensure that all individuals have access to quality and affordable financial services.”

New Behavioral Financial Advisor™ Training Program

With upcoming DOL Fiduciary rule changes, it will be even more important to provide comprehensive financial planning and behavioral coaching to your clients. Join Doug Lennick from think2perform on Tuesday, Sept. 6, at 3 p.m. CDT for an introductory webinar to learn how the Behavioral Financial Advisor training program can help you improve client decision-making using a rational, values-based approach and improve the effectiveness of your financial planning advice.

Elevate your role with clients by moving beyond a product focus and effectively influence the spending and saving behavior of your clients. Register for the webinar or contact Practice Management at 800-747-6111, ext. GROW (4769).

Introducing RAIN Sales Training

Securities America is pleased to offer sales skills training

through the RAIN Group, a global leader in sales training and a consultant for Securities America

News and Announcements


advisors. RAIN’s full suite of sales training covers every stage of the sales process from prospecting and opportunity management to consultative selling, negotiation, account development and sales management.

RAIN sales training uses the Sales Competency WheelSM, highlighting key areas where sellers and organizations must excel to achieve the greatest sales results. When you sign up for RAIN sales training, you’ll have access to its complete learning system, which includes a customized Securities America portal.

The $500 subscription fee includes:

• One year of access to RAIN’s online learning environment

• Access to customized sales training curriculum for Securities America advisors

• Modules available 24/7

• Worksheets, tools, checklists and templates

Contact the Practice Management Group at 800-747-6111, ext. 4769 for additional information or to enroll in the RAIN training.

Securities America to Acquire Independent Broker-Dealer Foothill Securities

Financial Planning – Securities America Inc. has agreed to acquire certain assets of advisor-owned, independent broker-dealer Foothill Securities, of Santa Clara, Calif.

Founded in the heart of Silicon Valley in 1962, Foothill Securities currently services the needs of 210 advisors in 12 states with $5.14 billion in client assets and $38 million in GDC.

Foothill Securities will transition from its current role as a broker-dealer to become two super branches of Securities America. Its advisors are expected to transition to Securities America in the fourth quarter of this year.

Upcoming 2016 Conferences

Sept. 22-23

Assistant University and Principal Meeting – Omaha, Neb.

Oct. 6-7

Masters Series Study Group – Atlanta, Ga.

Oct. 25-28

Nov. 7-8 NextPhase Income Distribution Conference – Scottsdale, Ariz.

Managed Money Conference – Scottsdale, Ariz.

Nov. 8-10

Next Level #15 – Workshop #1 – Omaha, Neb.

Ladenburg Institute of Women and Finance Symposium – Salt Lake City, Utah

Oct. 20-21

For detailed information about upcoming Securities America conferences, visit the Events Calendar in Business Center.

Media Mentions


Catlett Named Chairman of Nebraska Banker’s AssociationJerry Catlett, senior vice president and chief financial officer of Bruning State Bank in Bruning, Neb., was selected as chairman of the Nebraska Banker’s Association (NBA). Catlett started Bruning State Bank’s investment program 20 years ago.

Catlett has played an active role in the NBA, serving as a member of several NBA boards and committees, including the NBA board of directors, Government Relations Committee (past chairman), BankPAC Committee (past chairman), various education committees, the Nebraska Bankers Insurance & Services Co. (NBISCO) board of directors and the KBA/NBA Schools of Banking board of directors.

Dave and Beau Zumbusch Organize Cents for Targets Fund-Raising EventSecurities America advisors Dave and Beau Zumbusch of Sportsmen Dream Financial in Buffalo, Minn., joined forces with Mark and Sally Stevens, lead coaches of the Buffalo High School Trap Shooting team, to initiate and sponsor the first annual “Cents for Targets” community fund-raising event. The event supports the Buffalo Rotary, Silent Santa Adopt a Family and the Beds for Kids Program.

Held on Memorial Day, the trap shooting event attracted 50 students from the Buffalo High school trap shooting team and approximately 20 community and family members. The event raised over $14,000, surpassing their goal by 40 percent. Dave Zumbusch served as the Buffalo Rotary President in 2012 and 2013 and has also served on numerous church, charity and conservation committees.

Share your professional or philanthropic news with us by emailing [email protected] News


Advisor Name Previous Broker-Dealer

Adam Powell Infinex Investments

Andrea McGivern Cetera Advisors

Chris Castro CUNA Brokerage Services

Cynthia Barnett Questar Capital Corporation

Darren Monroe Cetera Investment Services

Edward Bails LPL Financial

Edward Watkins Woodbury Financial Services

Eugene Yelverton LPL Financial

Janet Christin Umpqua Investments

Jason Christo Metlife Securities

Jason Hollingsworth Wells Fargo Advisors

John Franklin Woodbury Financial Services

Karen Beal Quest Capital Strategies

Kevin Stottlemyre Umpqua Investments

Lance Ludwig Investment Planners

Mark Whitehouse Woodbury Financial Services

Matthew Longland Cetera Advisors

Neil Daley Cetera Advisors

Philip Ranalli LPL Financial

Ronald Icabone First Allied Securities

Ronald Schneider Wells Fargo Advisors

Samuel Shober NY Life Securities

Welcome New Advisors


Feat

ure:

ASS

ISTA

NTS

and

PRIN

CIPA

LS

Assistant University Empowers Support Staff to Excel

Taking place Oct. 6-7 in Omaha, this year’s Assistant University promises to be one of the most beneficial in its 19 years, thanks to an emphasis on important, practical service hacks that can empower support staff to excel. “You’ve heard of life hacks, online travel hacks, health hacks, marketing hacks, etc.,” Kirk Hulett, executive vice president of strategy and practice management at Securities America, said. “This year’s Assistant University will feature service hacks in three important areas.

“The first will prepare attendees to succeed in a post-DOL rule world by providing insight and practice management tips for processing business and servicing clients under the new regulations,” Hulett said. “The second will teach staff to save time, money and effort by making the most of Securities America’s new and enhanced technology. The third will cover new ways to

interact with Securities America’s service teams through Chat and the Resource Desk.”

As in previous years, Assistant University will present a new curriculum with a dynamic mix of classroom instruction, panel discussions and group interaction. The event delivers tremendous value to support staff of all experience levels through a customizable program with over 30 sessions organized into three separate educational tracks – Emerging, Experienced and Technology.

Designed for support staff who are new to Securities America or have less than 18 months of experience in the financial services industry, the Emerging track will provide a solid foundation that includes best practices for optimizing Securities America’s technology, serving clients and processing business. Featuring a collaborative learning environment for more seasoned assistants, the Experienced track will include

AssistantUniversity

and PrincipalMeeting

Oct. 6-7

ALL-NEW CURRICULUM


ways to increase productivity and challenge staff to assume greater leadership roles in their firms. The Technology track will offer tips, tools and hands-on training with Securities America and strategic partner technologies.

As a bonus, inspirational keynote speakers will empower staff to develop new skills and build stronger relationships with prospects and clients. One-on-one consultations with Securities America experts will allow attendees to discuss unique challenges and opportunities. Consultation time slots are available on a first-come, first-served basis.

After attending her third Assistant University last year, Laura Southeard, a client services associate with Kelley & Mullis Wealth Management in Vestavia Hills, Ala., commented on her experiences.

“Whether we come from large or small offices, we all have the same goal: to streamline our processes and make life easier for our advisors and ourselves,” Southeard said. “Assistant University has been wonderful. Everyone’s very friendly, and we’ve returned every year with a lot of helpful information to take back to our office. The technology tracks are particularly beneficial, to keep us up to date on new developments.”

Marcy Barnes, a client services specialist with Gilliam Mease Advisors in Louisville, Ky., attended her first Assistant University last year.

“My time at Assistant University was well spent,” Barnes said. “I had the opportunity to meet and learn from fellow assistants from around the country and had many opportunities to learn new things during the informative workshops. I would encourage any assistant to attend Assistant University. I went back to work feeling

more equipped and knowledgeable about my daily responsibilities.”

The 2016 Assistant University will empower new and experienced support staff to help their advisors build more efficient, more successful practices. For more information, visit the Business Center home page and click on the Assistant University ad or contact Practice Management at [email protected].

The last day to register is Sept. 9. Sign up today!

View the Assistant University agenda.

9 The STAR | SEPTEMBER 20169 The STAR | SEPTEMBER 2016

Feat

ure:

ASS

ISTA

NTS

and

PRIN

CIPA

LS

Principal Meeting Empowers Principals and OSJs in an Ever-Changing World of Compliance

With all the questions surfacing about ramifications of the new Department of Labor fiduciary rule, Securities America’s third annual Principal Meeting is expected to attract a record number of acting principals and OSJs. Securities America’s supervision team will provide a robust agenda to give attendees the information and tools they need to keep their advisors compliant while empowering them to be successful. Throughout the event, attendees will build valuable relationships with experienced principals from around the country as they exchange insights on fulfilling their supervisory responsibilities.

In addition to an overview and discussion on the DOL rule, topics covered will include: identifying and avoiding conflicts of interest, protecting

vulnerable clients, best regulatory practices, what is important to know about arbitrations, time-saving supervision tips, supervision case studies and steps to create a strong culture of compliance.

Christina Wolfe, compliance officer with L & M Financial Services in Amherst, N.Y., and Securities America’s Principal of the Year for 2015, commented on her experience at last year’s event.

“Last year’s Principal Meeting was an eye-opening experience. It was beneficial to go to Nebraska and meet Securities America’s staff and advisors from other branches who I wouldn’t have otherwise met. The event creates an inviting sense of community and provides access to one-on-one meetings to discuss specific situations with different departments. Securities America is

2016 ASSISTANT UNIVERSITY AND PRINCIPAL MEETING


available to listen to our needs and offer guidance. I would not hesitate to attend this event each year. The information I receive and the people I meet are invaluable resources that can be counted on long after the event has ended,” Wolfe said.

Tom Cook, vice president of compliance and supervision for JFC Financial Services in Lincoln, Neb., explained why his supervisory team keeps coming back to the Principal Meeting.

“We have always found great value in the Principal Meeting in Omaha,” Cook said. “The agenda is full of relevant topics and real world examples. Discussions with other supervisors give us insights into their experiences and perspectives. We look forward to attending each year.”

Lisa K. Gallagher, chief administrative officer, LPF Financial Advisors, Sarasota, Fla., also praised the event.

“The Principal Meeting is not only an efficient way to obtain relevant and timely information on the issues we as principals deal with daily, but it is an opportunity to meet your peers and hear a variety of ideas and strategies for problem solving and risk control,” Gallagher said. “The sessions are interactive and candid; the advice is practical and proven.”

Although a separate event, Securities America’s Principal Meeting is held at the same time and location as Assistant University. For more information and instructions on registering for the event, visit the Business Center home page and click on the Principal Meeting ad or contact Rebecca Bowman at [email protected].

The last day to register is Sept. 9. Sign up today!

View the Principal Meeting agenda.

Everyone attending Assistant University or Principal Meeting is welcome to participate in Wednesday afternoon’s sessions:

Managed Opportunities: Best Practices for Assistants1:30 p.m. – 3:00 p.m.

Assistants are often responsible for coordinating and executing tasks in this industry-leading asset management program as they prepare their advisor to interact with clients. This session will address the platform’s key administrative components and present best practices to help assistants use Managed Opportunities to better support their advisors.

Albridge Wealth Reporting3:15 p.m. – 4:30 p.m.

This session will focus on training, best practices and using this powerful aggregation and reporting tool to provide more value to clients. Assistants will learn how to run performance reports on commission, fee-based and non-brokerage assets; build report packages based on client segmentations; run batch jobs; and deliver client reports via mail or email.

Pre-Conference Sessions: Wednesday, Oct. 5


Feat

ure:

ASS

ISTA

NTS

and

PRIN

CIPA

LS

In 2015, Jennifer Nelson’s career was at a crossroads.

She had worked as an assistant to Todd Terhorst, the founder, president and managing partner of Diversified Wealth Management in the Twin Cities’ area of Minnesota since 2005. As Terhorst started to grow his branch, Nelson also took on the responsibility of supervising its growing team of advisors.

What had started as a part-time job for the long-time financial industry veteran had grown into an enormous responsibility that consumed almost all her time. She knew she had to make a choice between supervising the growing number of advisors or assisting Todd’s personal clients. It didn’t take long to decide which of the two she was more passionate about.

Love of People and Service Earns Nelson 2015 Assistant of the Year


In 2015, Terhorst and Nelson brought on industry veteran Shelly Slattery to take over the supervisory duties, so Nelson could focus solely on her role as Terhorst’s full-time assistant.

Terhorst said Nelson displays a long list of positive traits, but it was her unwavering passion for serving others that motivated him to nominate her for the 2015 Assistant of the Year award.

“She’s the kind of person who rolls up her sleeves and learns how to get things done,” Terhorst said. “With Jennifer, there is no pushing it off or figuring it out some other time. She figures out ways to help everyone, and everyone relies on her. People come to her because she’s very knowledgeable and gets stuff done. She’s an advisor to the advisors.”

So what does Nelson enjoy most about being an assistant?

“I know Todd’s clients when they come in the door,” Nelson said. “I even know what they like to drink. They’re like family to me. I’ve built relationships with the clientele. I wanted to keep building relationships and didn’t want to lose touch with them. I didn’t want to lose being the go-to person that they would call and ask for certain things.

“I also love being able to share all the knowledge I have obtained in the 12 years I’ve been with Securities America and talking about new tools, like the training library and New Business Solutions, with our recruits. In the independent world, these things are unique,” Nelson said.

Changing roles and focusing solely on her duties as an assistant has also allowed Nelson to spend more time with her teenage daughters Eleanore and Mary Elizabeth and her husband, Terry.

Finding that work-life balance was much more challenging in the firm’s formative years during the early 2000s as Terhorst assumed the OSJ role while

managing his own book of clients. At that time, Terhorst and Nelson often put in long days teaming up to develop strategies for building the business and overcoming new and unfamiliar challenges.

The dedication, commitment and strong professional bond that developed between Terhorst and Nelson during that challenging time has paid off. Along with the other internal OSJ team members, Shelly Slattery, Pete Zvanovec and Chris Beck, the branch has grown to 44 advisors and 13 staff members in four states. With Nelson’s support, Terhorst’s personal practice has enjoyed significant and consistent growth over the past decade as well.

“We know each other well enough to finish each other’s sentences or predict each other’s reactions to certain client or broker-dealer issues,” Nelson said. “That’s what you get when you’re close to someone you work with for many years.”

Whether it’s helping one of the advisors with a complicated case or going the extra mile to ensure a client has a positive experience, Nelson always displays a genuine kindness for everyone she comes into contact with — a rare trait that makes her an invaluable member of the Diversified Wealth Team, Terhorst said.

“As any advisor would admit if you pressed them, the one key to finding success and expanding a practice is to find people you can rely on. I was lucky to find that person in Jennifer,” he said.

With Jennifer, there is no pushing it off or figuring it out some other time. She figures out ways to help everyone, and everyone relies on her. People come

to her because she’s very knowledgeable and gets stuff done. She’s an advisor to the advisors.

- Todd Terhorst, Diversified Wealth Management


Feat

ure:

ASS

ISTA

NTS

and

PRIN

CIPA

LS Right Balance of

Rapport and Due DiligenceEarns Wolfe 2015 Distinguished Principal Award

Supervising advisors to ensure they comply with an ever-growing list of regulations while fostering positive relationships with them can create a challenging balancing act for today’s acting principals.

To maintain that often delicate balance, it’s vital for supervisors to build a positive rapport with the advisors they work with, according to Christina Wolfe, the winner of the 2015 Securities America Distinguished Principal Award.

When Wolfe joined L&M Financial in Amherst, N.Y., as an acting principal in 2010, she brought along 13 years of experience in the financial services industry as an assistant and an advisor. She soon learned that to be a successful principal, she had to first earn the trust of the advisors.

“It takes years to build rapport,” she said. “It took me a long time. I’ve been here six years. The secret is to keep them from feeling like you’re being too judgmental about their business and to let them know you truly are looking out for their best interests.”


A principal must often think like a judge presiding over a court room, a role that Wolfe has learned to embrace.

“There’s a lot of gray area on the assistant and advisor side; I’m more black-and-white,” she said. “I enjoy digging into new business and learning about compliance. I read a lot of articles and seek more knowledge. That’s what I enjoy.”

Having the opportunity to learn and grow in her career at a supportive firm with a positive culture is one of the many things Wolfe said she enjoys about being a part of the L&M Financial team and Securities America.

“L&M has a lot of family members, so it has a family feel to it,” Wolfe said. “There’s a lot of good people here who support you and help you grow in your position.”

While building trust and maintaining positive ties with the 23 advisors she supervises often requires a soft touch and strong people skills, Christina never loses sight of her supervisory duties and demonstrates persistence when it comes to enforcing regulations, said L&M Financial’s CEO Amy Lipsitz.

That determination may not always make her the most popular person in the practice, Lipsitz said, but it definitely makes her one of the most valuable.

“She’ll challenge to the end. She’s committed to getting business properly submitted and documented,” Lipsitz said. “She’s relentless when it comes to details, but she gets advisors to understand her role is to protect them. She won’t let anything go if there’s a chance it will come back on us.”

Being able to understand and enforce mountains of complex regulations requires Wolfe to dedicate a large portion of her time to research, an aspect of her job that has grown considerably since the introduction of the Department of Labor fiduciary rule in April.

Christina Wolfe was presented her Distinguished Principal Award at Securities America’s 2016 Connect national conference by Janine Wertheim and Jim Nagengast.

She’s relentless when it comes to details, but she gets advisors to

understand her role is to protect them.

- Amy Lipsitz, L&M Financial


Feat

ure:

ASS

ISTA

NTS

and

PRIN

CIPA

LS

NEW ASSISTANT ORIENTATION TRAINING VIDEO SERIES

To help assistants quickly understand their role and responsibilities, Securities America has released several new videos. The new assistant videos can supplement your practice’s training efforts by providing an overview of the most common assistant tasks. These include:

View All Assistant Training Videos

2 MINUTE TECH TIP VIDEOS

This library of short, informative videos is brought to you by Securities America’s technology training team. These videos feature tips on topics such as New Business Solutions, NetX360, Vault, Streetscape, Managed Opportunities and Webmail. Visit the Business Center and browse the videos. Be sure to check back often, as new topics are frequently added.

ASSISTANT FORUM

The Assistant Forum, found on the Business Center, is buzzing

with activity. Assistants across the country are reaching out to their

peers to ask questions about best practices and share insights. It’s

also a great place to check in and see home office updates to our upcoming Assistant University.

Post your question or comment today, and be a part of Securities

America’s community resource.

Educational Resources for Assistants


ASSISTANT CERTIFICATION PROGRAM

This introduction to Securities America and the financial services industry helps assistants take on greater responsibility. The program offers 24/7 access to industry-leading training without traveling or taking time away from the office. It is divided into seven tracks offering more than 35 courses. Each course includes a post test. A comprehensive final exam confirms mastery of the program content.

Who should enroll?• Assistants with one year or less experience in the financial services industry.• Assistants who want to sharpen their skills in one or more of the seven modules.

What are the benefits?• Quickly prepare a new associate to be a productive, contributing member of your team.• Spend less time away from production when training a new associate.• Realize an immediate impact on the efficiency of your office.

Assistant Certification Program Flyer Sign-Up Form

$99Assistant

Certification Program

Includes all seven program tracks.

Program Courses

ACP 100: Office Management• Introduction to Securities America• Utilizing Securities America Resources• Time Management• Customer Service• Office Workflow• Managing Up• Client Contact Management

ACP 200: Financial Products• How the Financial Markets Work• Mutual Funds• Stocks and Bonds• Annuities and Insurance• Alternative Investments

ACP 300: Compliance• Compliance Basics, Parts 1 & 2• Communication with the Public• Ethics• Audit Preparation• Anti-Money Laundering

ACP 400: Saving and Planning• Fundamentals of Investing• Income Distribution• Retirement Plans• Advisory Business• Saving for Education• The Financial Planning Process

ACP 500: Marketing• Marketing Basics• Website Marketing• Seminar & Event Marketing• Social Media Marketing• Referral Marketing

ACP 600: Series 7• Fundamentals of Debt• Municipal Securities• Corporate & U.S. Government Bonds• Introduction to Options• Regulations

ACP 700: Managed Opportunities• Managed Opportunities• Unified Managed Accounts• Managed Opportunities Advisor Directed• Proposals and Servicing


John Vipond is a product analyst with the Field Technology Group at Securities America. You can reach him at 800-747-6111, ext. 3336, or [email protected].

Securities America Technology News

Assistant University:

The Technology Solutions Center will be available at Assistant University in Omaha on Oct. 6-7. Representatives will answer technology questions and discuss ideas. One-on-one usability studies will give attendees an opportunity to provide feedback that could impact future enhancements. Watch the daily e*Star for your invitation to register online for this popular conference.

New Business Solutions:

Several enhancements were deployed to the New Business Solutions process. For a full list of fixes and changes, go to SAI Release Notes underthe News tab in Business Center. Some of the latest enhancements include:

• Chat Support — All users can now simply click on the Chat icon to talk online with a Rep Relations representative.

• Status — To target clients who need to provide a date of birth, Social Security number or residential legal address, you can now filter bundles for those missing CIP information. This

is especially beneficial when you acquire legacy accounts from another advisor or you are new to Securities America and bringing on existing clients.

• Sponsor Transactions — The Sponsor Transactions system now captures and retains liquidation details to save you the hassle of re-entering this information.

Account Servicing Tool Updates:

Brokerage cash delinquency and margin call notices were moved from the Action Report to the Account Servicing Status tab display. Notices posted prior to this change will continue to display on the Action Report. The Account Servicing Status tab provides the ability to submit updates and notes to the Home Office for each respective record.

National Financial Updates:

• Streetscape Mobile Check Deposit Account Limit Increase — National Financial enhanced the Streetscape and MyStreetscape mobile applications by increasing the ability to split (deposit) one check in up to 100 accounts

by John Vipond

Technology Notes


(an increase from five accounts). This change is especially valuable to offices that support retirement plans where a single check may need to be split to dozens of accounts.

• Streetscape Multi-Order Trading — A new multiple-order trade option is now available for all offices with trading access in Streetscape. When buying or selling mutual fund or equity holdings in your National Financial accounts, this new feature helps you prepare multiple orders on one screen before reviewing and submitting. Visit the Streetscape information page on Business Center to learn more about this helpful new option.

• Report Retirement — Securities America has included the Mandatory Reorganizations report as a link in our daily e*Star for many years. Because the e*Star version is sourced from a more current report available in Streetscape, the e*Star version has been retired. Visit Streetscape reports to retrieve this report online at any time.

• MyStreetscape – Browser Blocking and Warnings — National Financial implemented browser blocking and warnings for older versions of web browsers. The older versions of these browsers are no longer supported by National Financial and are no longer being updated to handle new security threats. Please upgrade to the latest browser versions to gain access and refer to the Minimum System Requirements to ensure you are running the proper version of supported browsers.

Pershing Updates:

• NetXInvestor Update — To increase transparency to investors on the funds available to trade for marginable equities and for non-marginable equities, labels in the Key Value sections of the Balances screen in NetXInvestor® were updated. Marginable Equity was relabeled Funds Available to Trade for Marginable Equities, and Funds Available to Trade was relabeled Funds Available to Trade for Non-Marginable Equities.

• NetX360® Login Changes — The NetX360® login experience changed across all platforms and security authentication changed for NetX360.com. Although the impact was minimal, it will affect both the NetX360 (desktop) and NetX360.com (web) versions. Learn more.

If you have questions regarding any of these technology notes, contact the Field Tech group using your Business Center Webmail for further clarification or send a message

to the Suggestion Box with your technology enhancement ideas.


Dashboards Put a Wealth of Information at Your Fingertips

In 2012, Securities America introduced Advantage Dashboard in response to direct feedback from you. The Advantage Dashboard consolidates information from multiple systems in a custom-built display, allowing you to see a massive amount of information on one screen.

Since the rollout of our Advantage Dashboard, National Financial and Pershing have made dashboards available in Streetscape and NetX360. By putting these helpful tools to work for you, you can more efficiently and effectively answer client questions, prepare for meetings or review your book of business.

Read on for valuable tips and strategies to help get you started.

Securities America Advantage DashboardAvailable by selecting the Dashboard tab in Advantage, the Securities America Dashboard is separated into three views:

• Client view is dedicated to reviewing information about a single account or a household of accounts. In just seconds, this view can show you a listing of account values, positions, historical transactions, asset allocation, five-year historical market value changes and important dates.

• Office view displays your entire book of business with helpful information like GDC trends, top positions and clients by assets or compensation as well as recently opened and closed accounts.

• Branch view makes it easy for OSJs and acting principals to compare production and activities of the advisors in their branch.

The Advantage Dashboard also incorporates combined information from NFS and Pershing in addition to direct sponsor mutual funds, variable annuities, REITs and third-party money managers for a detailed and accurate overview of your book of business.

by Aaron Spahr

Aaron Spahr is lead product consultant at Securities America. You can reach him at 800-7474-6111, ext. 3331, or [email protected].

Technology


The Office and Branch views can also be used to view gross production and other compensation-related information – features unavailable through other dashboards.

Advantage Dashboard Tips and TricksRep code groups and client households created in other areas of Advantage will “follow you” into the Dashboard. For example, you can use the Custom Household search in the Client view to see consolidated information for a client’s entire list of accounts.

In Office view, you can view rankings of top clients by assets or compensation at the household level in addition to the account level. Offices that create custom rep code groups can run the Office and Branch views by an individual rep code or a group.

National Financial DashboardAvailable by clicking the Dashboard link in the Reports area of Streetscape, the National Financial Dashboard provides an overview and details about your National Financial accounts. It includes helpful charts, graphs and tables displaying total asset trends, security allocations, top positions and corporate actions.

Although the Streetscape Dashboard is relatively new, the tool contains a great deal of information and will be updated regularly by National Financial. The Cash Flow chart is a recently added feature that helps visualize a historical review of assets being received into and sent out of your clients’brokerage accounts.

continued on pg. 21

Securities America Advantage Dashboard


National Financial Dashboard Tips and TricksThe Streetscape Dashboard has excellent click-through capabilities. For example, while reviewing your list of corporate actions, if you see outstanding Voluntary Reorganizations, you can click to retrieve those items in a report. While viewing a list of clients with a large cash position, click the account number to jump directly into trade screens or other areas of Streetscape. Click on any individual chart to drill deeper into the data.

Pershing DashboardAvailable by selecting Dashboard Insights from the Reports & Documents section of NetX360, the Pershing Dashboard displays a lot of valuable information for offices that use the Pershing platform for brokerage business.

In just seconds, it displays top-level information such as total assets, number of accounts, new assets and new accounts plus trend charts and a graphic illustration of assets by location. Similar to the Securities America dashboard, Pershing provides the ability to add pages and select the dashboard widgets most useful to you.

National Financial Dashboard


Pershing Dashboard

The Pershing Dashboard was designed for ease of use and visual appeal. Its easy-to-read charts and graphs clearly display important data. Smaller widgets unique to this tool can be used to bring up a simple count or the sum of key data points.

Pershing Dashboard Tips and TricksThe Pershing Dashboard has several unique customization options. The user-friendly interface for adding new widgets, pages and multiple dashboards

is easy to master. It’s flexible and allows you to select just charts and graphic options important to you. To make specific data elements easier to interpret, you can choose how you would like to view the data — as a line graph, bar graph, area chart, doughnut chart or scatter plot chart.

As reporting technology evolves, these dashboards will continue to be enhanced with new features and functionality for even more money-saving efficiency. To learn more

about how you can incorporate these dashboards into your processes, visit the Business Center Technology Training Resource Library or call the home office for assistance.


DOL Rule Causing Advisors to Rethink Need for Their Own RIA

Running an independent registered investment advisory (IRIA) firm has never been easy or inexpensive. It requires appointing a chief compliance officer, drafting and maintaining a compliance manual specific to the RIA business, implementing a thorough compliance program, annual updates to disclosure documents such as ADV Part 1, 2A and 2B and working through audits by the SEC or state regulators.

The added requirements of the new Department of Labor fiduciary rule, however, have many IRIA owners rethinking their business model. And some are deciding the benefits no longer outweigh the burden, especially when they can offload that burden to Securities America Advisors, the SEC registered investment advisory firm owned by Securities America.

“Keeping the supervisory manual updated and making sure we did every line item in the manual was stressful,” said Andi Kang, a Securities America advisor and owner of Crown Wealth Management, a state-registered RIA located in Costa Mesa, Calif. “There’s the annual compliance review, the client materials and agreements to update, the annual updates for the ADV brochure and the monthly net worth calculation. We spend at least two weeks preparing for an audit and then another three to five days on the audit itself. I decided it was not the best use of my precious time and money.”

For Sue and Fritz Brauner, Securities America advisors who own The Brauner Company in Redwood City, Calif., the decision to discontinue the RIA they started in the mid-1990s and become investment advisor representatives (IARs) of Securities America Advisors came in the spring of 2014 during a discussion on continuity agreements at their Masters Study Group.

“We were amazed that out of the group of about 25 top advisors, we were among the few who were their own OSJ and RIA,” Sue said. “They clearly told us they didn’t think it was a good use of our time to spend it on compliance duties and Securities America could handle it for us. We were really stunned. By giving ours up, we regained 20 hours per quarter that we could spend on client activities – which is what we do best and what makes us money.”

Paula Dorion-Gray inherited an IRIA when she purchased a practice. When she determined RIA duties required 60 percent of a full-time professional staff person’s time, she made the same decision as the Brauners – to close her IRIA and become an IAR of Securities America Advisors in January 2014. And she’s never regretted that decision, she said.

“With the added burden of the DOL fiduciary rule, that staff person would be spending 100 percent of her time on the RIA,” Dorion-Gray said. “There’s also the risk of what you don’t know in interpreting new

Switching to Securities America Advisors Can Free Time for Clients and Reduce Stress

DOL Fiduciary Rule


Independent RIA Compliance RequirementsCompliance Requirement Independent RIA Join SAA

Draft and maintain Compliance Manual, Code of Ethics and Privacy Notices

Responsible for drafting and continually updating firm’s Regulatory Compliance Manual, Code of Ethics and Annual Privacy Notices

SAA handles

Draft, maintain and retain compliance disclosure documents

Annually engage outside consulting firm to update ADV Part 1, Part 2A and Part 2B; retain these and all amendments for required period

SAA handles

Research and track regulatory deadlines, changes and notices, assess impact to firm and implement those changes

Ongoing obligation to track regulatory deadlines, changes and notices, assess impact to firm and implement those changes

SAA handles

Maintain Investment Advisor Relationship Agreement, RIA Firm Activities Form, Non-Custody Letter and RIA Services Acknowledgement Form

Ongoing maintenance of Investment Advisor Relationship Agreement, RIA Firm Activities Form, Non-Custody Letter and RIA Services Acknowledgement Form

SAA handles

Ensure sufficient resources to handle required reviews

Must hire a CCO and/or other staff to handle the following:• Best Execution Review• Risk Assessment Review• Compliance Annual Review• Identity Theft• Personal Securities Transactions• Annual Holdings• Quarterly Fee Reviews• Trade Error Reviews, etc.• Tracking of Pay-to-Play Contributions• Proxy Voting Policies

SAA handles

Maintain required logs Client Complaint, Marketing and Compliance Violation Logs SAA handles

Create, administer and track required annual training for IARs

Anti-Money Laundering SAA handles

Retain attorneys or outside consulting firms to address advisory-related issues/activities

May incur costs associated with hiring attorneys or outside consulting firms to address advisory-related issues/activities

SAA handles

Collection of CIP informationSubscribe to Equifax, Lexus Nexus, etc. (May require up-front fees, per account charges and 10-30% of a full-time employee to manage)

SAA handles

Implement Department of Labor Fiduciary Rule requirements

Review rules to ensure compliance with new DOL requirements and implement accordingly, including when to embed Best Interest Contract language and how to structure services to comply with new rules

SAA handles

Implement proposed SEC rule requiring RIAs to have a continuity and succession plan

Create plan, review and update annually, train staff to implement and communicate plan to clients

SAA handles

regulations like that. I want to spend my time in front of clients, not reading the regulations. And we found that clients really don’t care if you own the RIA or you’re under a corporate RIA.”

Brauner and Dorion-Gray said the transition was relatively easy. In Dorion-Gray’s case, SAA prepared

a negative consent change of investment agreement notice to clients regarding the transition, which was sent with a cover letter from Dorion-Gray explaining the change in layman’s terms.

continued on pg. 25


The Brauners decided to repaper their 92 advisory accounts representing 50 clients rather than use the negative consent notice. They made clients aware through phone conversations or emails that they would be receiving new forms to sign and why.

“We explained that the growing amount of compliance and regulatory duties resulting from being our own RIA was taking time away from them, so we were outsourcing those activities to Securities America Advisors,” Brauner said. “I would encourage everyone to do the same. The regulations will only get more onerous. Why would you spend time writing a policies and procedures manual instead of working with clients?”

That’s the question a state auditor asked Patty Laramore three years ago during her week-long examination of Premier Investment Advisory Services, the IRIA Laramore owns in Ada, Okla.

“She asked why we remained independent when we had an alternative in SAA,” Laramore said of that visit. “By the time I got to the Securities America national conference this year, I had done some preliminary research on the new DOL fiduciary rule. I decided I didn’t want to be dealing with the state on my own. Also, in considering my succession plan, it will be easier to sell my business if I’m under SAA.”

Laramore said at quarter end, it takes two of her full-time staff 10 hours to pull the reports that are then sent to a third-party RIA consulting firm to prepare the ADV and other documents.

“We’re a small practice, but our standard of care requirements for the RIA are no less than a firm with a dedicated compliance staff,” she said. “If we’re about what’s in the best interest of the clients – well, spending time on RIA stuff is not in the clients’ best interest.”

Laramore said she plans to avoid repapering by using SAA’s programs, which require only the negative consent change of investment agreement notice to clients. She has taken the first step for making the change and requested the Licensing Kit from Securities America’s Licensing Department. With the completed kit, Licensing prepares the SAA Form U4 for signing and submission to the state regulator or SEC. Once fully licensed under SAA and with all client accounts notified and moved, Laramore will be able to terminate her IRIA by submitting a Form ADV-W.

“Overall, for me, it’s about not having to live with the anxiety of possibly making mistakes,” she said.

Kang echoed that sentiment.

“It’s another burden I felt I needed to put down,” she said. “I dread regulator audits, but I look forward to being audited by Securities America, because I know they will help me ensure I’m doing everything I can to take care of my clients and my business.”

Brauner graciously offered to share with other advisors the email samples and client talking points her company created when they chose to repaper their advisory accounts.

“I hope this information helps other advisors to move over to SAA and save themselves time, money and the frustration of not working in their unique ability, so that they can spend more time on revenue producing activities and making a positive difference in the lives of their clients,” she said.

If we’re about what’s in the best interest of the clients – well, spending time on RIA stuff is

not in the clients’ best interest.

- Patty Laramore, Premier Investment Advisory Services

How to Transition from your Independent Investment Advisor to an Investment Advisor Representative

of Securities America Advisors (SAA)

STEP

STEP

STEP

REQUEST TO JOIN SAA• Contact the Licensing Department at 800-747-6111, option 6 or [email protected].

• Ask for the SAA Licensing Kit to begin the process.

• Complete the SAA Licensing Kit and return to the Licensing Department.

• Licensing will prepare your SAA Form U4 and send it to you for review and signing.

• Licensing will submit SAA Form U4 to regulators.

NOTE: For a short time, you may be dually registered with SAA and your independent firm, which will end when your independent firm’s registration is terminated. However, we cannot terminate your independent firm until you are fully licensed under SAA and all advisory account agreements are established with SAA.

NEW AGREEMENTS• You may be required to have clients execute new advisory account agreements because your services are now provided under SAA.

• Assignment of agreements may be accomplished through a negative consent process, but it depends on the services you are providing and the use of any third-party asset managers.

REMINDER: Before you can service accounts as an SAA investment advisor representative, you must be fully licensed with SAA and all advisory accounts must be with SAA. Until then, you will continue to service the account as an independent advisor.

TERMINATE INDEPENDENT FIRM’S REGISTRATION• Must be fully licensed under SAA in all required jurisdictions.

• Must have all advisory accounts established with SAA.

• Prepare and submit a Form ADV-W on behalf of your firm.

NOTE: Submitting a Form ADV-W is fairly simple, but your compliance consultant can assist if needed, or you can contact the Licensing Department for additional assistance.

YOUR MOVE TO SAA IS NOW COMPLETE!



If the trees in a forest are dying off, Nicola Nichol could probably diagnose what’s causing it. And if your retirement accounts are withering, she can probably tell you what’s causing that, too.

Today, Nichol owns Financial Strategies of Amelia on Amelia Island, Fla. But the path that brought her to the coastal community in northeast Florida started in South Africa and winds its way across the Atlantic to New York and then down the East Coast. Along the way, it included some dramatic career changes.

“A long time ago, my first career was in forest pathology,” she said. “I’ve got a master’s degree in microbiology, and I enjoyed it. I worked in consulting and doing scientific research to the forestry industry and helping foresters identify diseases, but it didn’t look like a career that was going to stick.”

Taking her penchant for research, numbers and spreadsheets in a new direction, Nichol entered the financial services industry as an actuary, providing investment advice to pension plan managers. “It’s all numbers basically,” she said. “Scientific research is numbers and spreadsheets, and I like numbers and making something out of them. In finance and the financial services industry, I felt like I could do some good with it. And the science didn’t feel like I was doing any good for the world.”

In 1997, Nichol moved to New York, where she soon discovered her South African actuarial experience didn’t translate in this country. However, she had developed a passion for investment advising, so she earned a Chartered Financial Analyst designation, launching her career in financial services. After six years in New York, she moved to Florida and started Financial Strategies of Amelia in 2010. She and her husband, Graeme, discovered the island when they sailed past it on a boat trip from New York to Fort Lauderdale and the Bahamas.

“We moved down to Florida, and there weren’t as many jobs as I thought,” she said. “I looked around and thought, ‘I love the financial industry.’ I was terrified of being a financial advisor, because everybody told me it was sales. I thought, ‘Well, I don’t have a lot to go on, so I’ll give it a try.’ So I started out, and I found it’s not sales. It’s education. It’s helping. It’s assisting. And I’ve loved it ever since.”

To assist women in her community with their financial concerns and to provide a forum where they can comfortably ask questions, Nichol and a local attorney started Women, Wealth and Wine, a discussion group that meets on the second Wednesday of each month. The firm’s website describes the gathering as “an informal group of women who meet to discuss financial and related issues affecting all of us.”

Florida Advisor’s Career Has Roots in South Africa’s Forestry Industry

outSpotlight - Nicola Nichol


“It’s really free form,” Nichol said. “We sit around. We have a glass of wine, and it’s whatever question anybody has. Once you give people a glass of wine, they get really talkative, and we get some amazing conversations going. Generally, they always go away and say, ‘Wow. I learned something.’”

Nichol also leads a finance education group that is part of the Amelia Island Newcomers Club. For topics that require outside expertise, such as taxes, estates or wills, Nichol invites a speaker to lead the group. On other nights, she embraces the opportunity to teach others about subjects she’s passionate about.

“For me what’s truly important and what I enjoy doing is educating,” she said. “I like educating clients, particularly retired women, and educating them about what their financial life and retirement looks like and how it’s different.”

continued on pg. 29

I like educating clients, particularly retired women, and educating them about

what their financial life and retirement looks like and

how it’s different.

-Nicola Nichol


Nicola Nichol Tell Her Story of Growth

and Community

watch


To better connect with her clients as an educator, Nichol enrolled in Securities America’s Next Level training, a nine-month program that helps advisors increase profitability, grow assets under management and take control of their work-life balance. As a result of what she learned, Nichol made several changes to her practice, including the development of new marketing tools that better clarify her unique value proposition.

“I just decided this was the right time,” she said. “I think if you do it too soon in your career, you’re trying to do too much. Whereas for me, this was the next stage, to hone in on that niche and get help learning to communicate with that niche and communicate as well as possible.”

In addition to her Next Level training experience, Nichol has discovered community involvement can be a powerful tool for building a practice.

When not in her office, Nichol volunteers her time and expertise in a variety of roles. She is on the board of SEZARC (South-East Zoo Alliance for Reproduction and Conservation), an organization that works on reproductive challenges to support self-sustaining populations of endangered species in captivity and in the wild. She is part of the Internal Animal Use and Care Committee at White Oak, which reviews procedures that can cause stress or pain to animals involved in research projects at the wildlife conservation facility near Jacksonville, Fla.

Nichol is a past board member of the Amelia Island Book Festival, the Rotary Club of Fernandina Beach and the Newcomers Club of Amelia Island. She is a member of the CFA Society of Jacksonville and on the Amelia Professional Advisory Council

for the Community Foundation for Northeast Florida. She serves as treasurer of the Fernandina Beach Middle School Band Parent Association.

By devoting much of her spare time to community and charitable involvement, Nichol has reaped many unexpected rewards — both personally and professionally.

“I live within a small community, and it’s important that I’m part of the community,” she said. “I’ve always tried to give back to the community. And over time it works. A lot of my referrals now come from attorneys. I think every estate planning attorney in the area refers clients to me, so that’s worked well for me. That’s the main way I grow my practice.”

I live within a small community, and it’s

important that I’m part of the community.

-Nicola Nichol


Matthew Witt is a technology training consultant in Practice Management at Securities America. You can reach him at 800-747-6111, ext. 5303, or [email protected].

Find Training Tools Quickly and Easily with New Training Resource Library

Securities America has an extensive library of training materials, but do you know where to find them? Business Center? Advantage? Resource Center?

The answer is “yes” to all three locations. But due to the multitude of resources and applications available, you may not even know what you are looking for. That is why Securities America has consolidated these materials into one convenient location, making it easier for you and your staff to quickly find the training materials you need.

In June 2016, the new Training Resource Library was unveiled. The library contains all Securities America training-related materials and is available to advisors and their staff. It can be found in two locations; under the Training tab on the Business Center and in the menu bar in the top right corner of the Resource Center.

The new Training Resource Library has features that make it easy to use and has already proven beneficial to some of Securities America’s advisor assistants. Betsy Dickey, office manager and assistant to advisor Ron Harczak in St. Charles, Ill., has discovered just how useful this tool can be.

“As technology changes, improves, evolves and refines, it can be a challenge to keep up,” Dickey said. “Although Securities America has developed many tools to make it easier to learn, it was sometimes difficult to find just the right tool or even remember the name of what you were looking for.”

Jennifer Nelson, director of client and advisor services for Diversified Wealth Management in St. Louis Park, Minn., is excited about the way the new Training Resource Library can help her train branches that join their firm.

by Matthew Witt

Practice Management


“I love the Training Resource Library. It is very user friendly,” says Nelson. “I think it is intuitive and will be a great tool for our new branches, giving them a place to go when I am unavailable or for a quick search before they ask me or the home office for help.”

Topics of Focus

Topics of Focus were created to provide an easy way to perform needs-based filtering capabilities and to help guide those who are not familiar with the applications available. Topics include compliance/supervision, general education and opportunity, opening and maintaining accounts, reporting, trading and other applications. The search tool has the ability to select multiple Topics of Focus and filter to match any or all of the topics selected.

Keyword-Searchable Training Materials

The Training Resource Library was developed with functionality similar to the Forms page in the Resource Center, making it easy to learn. One similar aspect is the ability to begin typing a keyword to populate all applicable materials. You can access more information about the application by clicking on the application name. Simply begin typing a keyword in the Resource Name search field.

Filter by Application, Material Type or Client Approved

The Training Resource Library provides three filtering options: application, material type and client approved. For example, when searching for training materials specific to myStreetscape, select myStreetscape in the application drop-down menu, then all materials related to myStreetscape will populate. In addition, you can filter by material type.

“The filters and sorting capabilities make it easy to drill down to specific needs. It allows you to view the information how you prefer – video, print, quick card or FAQs,” Dickey said.

This is a great way for visual learners to access information by filtering to view only videos. The final filter option, Client Approved, shows only materials approved to be shared with clients. This category is useful for finding information on client systems such as myStreetscape.

Many materials have been imported into the Training Resource Library, and there is much more content to come. In addition to updating the training material content, the standards for these resources are being improved to provide a consistent learning experience for advisors and staff.

Be on the lookout for new and updated content in the Training

Resource Library. For more information, contact Matthew Witt in the Practice Management Department

at 800-747-6111, ext. 5303.


Doug Carroll is a manager in the Rep Relations Center at Securities America. You can reach him at 800-747-6111, ext. 3759, or [email protected].

Rep Relations Center Takes Next Step in Workforce Management

According to Brad Cleveland, a leading expert in Workforce Management Theory, Contact Center Management is the art of having the right number of properly skilled people and supporting resources in place at the right times to handle an accurately forecasted workload, at service level, and with quality. Recently, Securities America’s Rep Relations Center journeyed into Workforce Management on an entirely new level.

When applying Cleveland’s definition, there are many benefits for advisors working with Securities America. Our Rep Relations Center is a multi-channel contact center, not just a call center. Listening to the needs and suggestions from advisors, Securities America now offers multiple channels including inbound calls, outbound call campaigns, emails and most recently inbound chat.

The current trend in the financial services industry is to offer more seamless contact channels to solve different issues as they arise. As the industry changes, Securities America will innovate our approach to meet the demand of our supported advisors.

The Right Number of People

The Securities America Workforce Management team’s responsibility is to have the right number of properly skilled people and supporting resources in place at the right times. By diving into each of these requirements, Workforce Management is analyzing better ways of forecasting demand from daily, weekly, monthly and yearly levels.

By adjusting the Rep Relations Center headcount throughout the year and ensuring supply meets demand, we can better shift available workforce to areas that need support.

For example, Workforce Management helps properly staff certain times of the day to ensure all time zones are serviced appropriately. In addition, training gaps are being identified.

With a better scheduled workforce, the Rep Relations Center is receiving more training in areas to better support advisors with a goal of first-call resolution.

Supporting Resources

The second priority of Workforce Management is ensuring supporting resources are available at the right time. There will always be times some resources are not available. However, once enough demand is

by Doug Carroll

Rep Relations Center


established, the Rep Relations Center and supporting resources will adjust to meet this demand. To support this initiative, as an example, hours have been expanded in select areas of the home office to ensure the front-line staff has the support needed at the time it is demanded within some areas of the back office operations team.

Accurate Forecasting

An accurately forecasted workload is ultimately a necessity of any Workforce Management. By analyzing historical data available from years of collection, Securities America’s Workforce Management team is able to better look for cyclical daily, monthly or yearly deviations to normal volume. By knowing these patterns ahead of time, staffing levels can be adjusted to appropriately handle volume and service all interactions. By becoming more proactive, interactions will be answered in a more predictable manner, thus benefiting front-line callers.

A service level agreement (SLA) is a goal established in advance of a set percentage of calls answered within a specific time frame. Workforce Management’s goal is set on a strategic level by analyzing industry standards, discussions with

advisors and Rep Relations Center leaders. By ensuring calls are answered within the SLA, all parties, including advisors, Rep Relations Center specialists and Securities America, will see the benefits. As the industry and business change, the SLA will continually be one of the most important goals for the Rep Relations Center to strive to achieve.

Quality Responses

Lastly, Cleveland’s definition mentions “with quality.” Quality starts by having the right number of people in place who have the tools and resources necessary to answer incoming questions accurately and quickly. The Workforce Management team will be using forecasted slower volume times to schedule more training for hot topics presented throughout the year.

With the recent addition of a full-time Workforce Management specialist dedicated to managing queues, schedules and forecasts, Securities America’s advisors can rest assured inbound calls, chats and emails receive quality answers in a timely fashion.

As with any new process, growing pains are inevitable, but the final output will be a better Rep Relations Center to handle changes in the coming months, quarters and years.


The 47 bank and credit union advisors and financial institution leaders who traveled to Omaha for the third annual Financial Institutions Conference Aug. 16-17 enjoyed a full agenda of informative sessions to help them take full advantage of their financial institution’s investment programs.

Several sessions led by home office staff and industry experts provided perspective on the macroeconomic influences facing the business today.

Topics addressed included:

• Retirement income planning

• Department of Labor fiduciary rule

• Financial institutions officer access

• Business loan portfolio protection

• Fixed income and bonds

Debra Wolf, an advisor at Foresight Bank in Plainview, Minn., said the sessions shed new light on common topics.

“Yesterday, one of the speakers talked about understanding tax situations for clients,” Wolf said. “It wasn’t the normal, ‘Hey you need to take these kind of deductions.’ It was phenomenal. It was mind-blowing and in-depth. You don’t get that every day.”

third annual

CONFERENCEFINANCIAL INSTITUTIONS

Attendees gathered for a cocktail reception and dinner on Tuesday evening, giving them the opportunity to network with peers and share best practices with other top producers and Securities America executives.

If you were unable to attend this year’s event, it’s not too early to start looking ahead to 2017. Dates for next year’s conference will be announced in upcoming months.

Theresa Homecillo, Securities America manager of licensing and registration, stopped in during a

break to pay a visit to advisor Debra Wolf.

Attendees Enjoy Two Days of Learning and Networking

SEPTEMBER 2016 | The STAR 36SEPTEMBER 2016 | The STAR 36

Kevin Watt, vice president of national

accounts at Security Benefit, is welcomed by Securities

America’s Michael Anderson. Watt’s session encouraged

attendees to think about whether or not their clients are

positioned for the possibility of changing interest rates.

Securities America advisor Jim Lammers enjoyed a friendly conversation with Jim Nagengast, Securities America CEO and president.

Todd Melillo, managing director of fixed income for Ladenburg Thalmann, delivers his session on the company’s wide range of services including creating portfolio income strategies, managing

fixed income portfolios with laddered maturities and staying on top of market updates.


Brought to you by the Financial Services Institute. For more information or to become a member, go to www.financialservices.org.

Building Bipartisan Support for the Senior Safe Act

Even in a crucial election year, there are some issues that simply cannot wait. Financial exploitation of our senior citizens is one such issue. As financial advisors are well aware, every day that goes by without the proper safeguards in place to protect elderly investors presents a window for unscrupulous scam artists and others to deplete our seniors’ hard-earned savings and put their retirement security at risk.

That is why the Financial Services Institute was so proud to play a key role in the passage of the Senior Safe Act in the House of Representatives in July. Based on legislation written by Senators Susan Collins (R-Maine) and Claire McCaskill (D-Mo.), the act would enable concerned financial advisors and firms to report signs

of possible elder financial abuse to federal or state securities regulators, law enforcement and other covered agencies without fear of being held liable for violating federal privacy laws. It would also help advisors receive the standardized training they need to spot signs of potential financial exploitation.

FSI got involved to help champion the act soon after it was introduced last year. Our support of the measure and our consistent dialogue with members of the House Financial Services Committee led us to believe this bill stood a very good chance of passing.

We also made the Senior Safe Act a core focus of our annual Capitol Hill Day, which brings FSI members from all across the country to Washington, D.C., to speak to their representatives in Congress about the legislative and regulatory issues that impact them and their clients.

Throughout Capitol Hill Day, which was held on June 15, legislators heard directly from more than 100 advisors and firm executives who form the first line of defense against elder financial abuse regarding the obstacles they confront every day in their efforts to protect their clients. One of our advisor members

by Dale Brown, President & CEO, Financial Services Institute

FSI Update


recounted his experience in seeing an elderly client’s own son repeatedly drain money from the client’s account. Although the advisor wanted to sound the alarm, he found himself overwhelmed by the risk of potential privacy law violations, which could have carried severe repercussions for him and his practice.

With solid bipartisan support behind the Senior Safe Act and our members’ own in-person testimonials on the need to protect elderly investors, the bill was quickly passed out of the Financial Services Committee by a 59-0 vote and received a vote on the House floor, where it passed unanimously on July 5.

While the act’s passage in the House is unquestionably a victory for our nation’s vulnerable senior investors, there is still much more to do.

To date, the Senate version of the act has not received a vote, despite unanimous bipartisan support in the House. We are working to build support for the bill in the upper house, and we urge the Senate Banking Committee to pass this crucial legislation and introduce it for a floor vote as quickly as possible. FSI has also issued a call to action to our members around the country to contact their senators and encourage them to pass the bill in its current form as soon as possible.

There is also much work to be done in the states. While the House version of the Senior Safe Act would ensure civil and administrative immunity from federal privacy laws for advisors and firms who report possible elder financial abuse, it will be up to individual states to develop and implement laws that provide similar safe harbors from state-level privacy statutes, in order to ensure consistency with federal law and minimize confusion.

FSI has been working with state regulators and legislators around the country to put such laws in place. We are pleased that Alabama, Indiana and Vermont have recently implemented laws based on a model rule developed by the North American Securities Administrators Association that requires financial advisors to report instances of suspected elder financial abuse while also providing them with immunity from civil liability under state privacy laws. Delaware, Missouri and Washington already have similar elder financial abuse laws in effect. A similar law in Louisiana will take effect early next year.

With the passage of the Senior Safe Act in the House, it is now time for our leaders in the Senate and in statehouses across the country to follow suit to protect our valued seniors. FSI is proud to have played a crucial role so far in raising awareness of the need to provide financial advisors and firms with the right tools and protections to reduce — and someday, we hope, to eliminate — the scourge of elder financial abuse.

We and our members look forward to working with legislators and regulators across the country to drive further progress on this crucial issue in the weeks and months ahead.

Learn more about our upcoming event, FSI Forum: Navigating a Post-DOL Fiduciary World,

taking place Sept. 25-27. This event is designed for financial advisors and firm executives.

Send questions, comments and contributions to: [email protected]

The STAR. Copyright September 2016 Securities America Financial Corporation.

All Rights Reserved. For Broker-Dealer Use Only.

Strategic Partners