Advisor Group, one of the nation’s largest broker-dealer networks, has launched several new programs designed to help its advisors develop business and make their enterprises more efficient. The new programs are targeted at both experienced financial advisors and those new to the industry.
The Phoenix-based network made the announcements at its fifth annual Wealth Management Symposium being held today.
One of the new programs, known as “Better Together,” includes a series of six webinars that will offer the resources of the firm’s retirement income planning team and its business coaching and consulting. “Each webinar features different financial advisors explaining their real-world experiences working with the national sales and consulting team and its positive impact on their businesses,” Advisor Group said in a press release.
The second new initiative is “Next Gen,” which “brings experienced financial advisors and Advisor Group leadership together with younger professionals to identify specific strengths to emphasize, areas for further development and opportunities to grow through strategic partnerships and mentorships,” the company said. “Next Gen builds upon the success of the program initially piloted at the Advisor Group subsidiary Securities America.”
The Advisor Group also used the symposium to announce the appointment of Philip Blancato as the company’s new chief market strategist. Since 2004, Blancato has held the position of CEO at Ladenburg Thalmann Asset Management, which Advisor Group acquired in 2020. In his new role, he will be responsible for providing “financial advisors across Advisor Group’s network with insight and visibility into the key trends that are shaping the markets and that will impact their clients and portfolio management strategies in the months ahead,” the company said.
Blancato will continue to serve as president and CEO of Ladenburg Thalmann Asset Management, a third-party asset manager.
“Today’s wealth management professionals are balancing an evolving regulatory environment, rising client expectations and unpredictable markets,” said Jamie Price, the president and CEO of the Advisor Group, in the statement. The company, he said, “is investing strategically in the tools and platforms these professionals need to navigate these changes while expanding their advisory-focused relationships with clients.”
During and after the sharp downturn caused by the Covid pandemic in 2020, Advisor Group saw a 236% year-over-year increase in net new assets, the firm said, with assets on its fee-based advisory wealth management platform increasing by 22%.
Of the net new assets on the platform, 36% went to the company’s recently enhanced unified managed account platform. During this same period, assets held on that platform increased by 79% overall, while the number of accounts nearly doubled, growing by 94%, Advisor Group said.
“The future of our industry belongs to financial advisors who specialize in financial planning and operate as fiduciaries,” said Greg Cornick, Advisor Group’s president of advice and wealth management, in a statement.