When a bank or credit union chooses to provide retail investment services via a third-party broker-dealer (e.g., LPL Financial, Raymond James, CUNA, etc.), they must decide the type of networking arrangement. This arrangement consists of two main models: managed program and dual employee program. This article provides an overview of these two structures, the advantages […]
We recently hosted a webinar titled: Best Practices in Working With Your Third-Party Broker-Dealer. This webinar explored how bank and credit union investment services programs can get the most out of their third-party broker-dealer partnership. Terrapin Technologies President, Kristefor Lysne, moderated the discussion and was joined by: Brian Lauer, Partner at Messick Lauer & Smith […]
We recently hosted a webinar titled: Leveraging Financial Institution Data in LPL Bank and Credit Union Programs. The panel featured industry leaders who discussed ways to leverage financial institution data to successfully drive revenue and growth. Discussion topics included accelerating growth in your investment program, how firms can use customer activities and events at the […]
The Third-Party Broker-Dealer Model A growing number of banks and credit unions are partnering with third-party broker-dealers (also known as third-party marketers) such as LPL Financial Institution Services and Raymond James Financial Institutions Division. Industry consulting group Kehrer Bielan Research and Consulting estimate that over 2,900 financial institutions are selling investment services. Their research suggests that 98.6% offer investment […]
A few weeks ago, we hosted a webinar titled: Leveraging Data For Compensation in LPL Bank and Credit Union Programs. We brought together a group of seasoned leaders to discuss advisor compensation best practices. Terrapin Technologies President, Kristefor Lysne, moderated the discussion and was joined by: Peter Bielan, Principal, Kehrer Bielan Research & Consulting Peg […]