Deals & People January 14, 2013

BofA Names Managing Director

Jeff Cimini has joined the personal wealth and retirement leadership team at Bank of America Merrill Lynch as a managing director and head of personal retirement.
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He will report to David Tyrie, managing director and the head of the division.

In his new role, Cimini will be responsible for product strategy, innovation and delivery across multiple enterprise channels. The firm’s retirement specialists will work with Cimini and the personal retirement team to tailor outcome-driven solutions for key client segments and advisers.

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Cimini has nearly 25 years of experience and joins Bank of America Merrill Lynch from Fidelity, where he served in several leadership positions, including most recently as president of the Fidelity Investments Life Insurance Company. 

Products January 14, 2013

Broker/Dealer Pitches Advisers with Video

BCG Securities Inc. (BCGS), a broker/dealer and advisory firm, unveiled an adviser recruitment video.
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The recruitment video was created to promote a new recruitment program, “Discover True Independence,” aimed at advisers looking to learn more about BCG Securities. The video demonstrates the firm’s commitment to its advisers through progressive technology, experienced staff, sales support and training.

Classes and training at BCGS focus on resources for business acceleration, such as how advisers can build their book of business and market to new clients, among other topics. The firm custodies assets with Pershing LLC.

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According to Jake Reardon, national sales director at BCGS, the firm has about 80 advisers and is looking to expand. Reardon describes the firm’s advisers as an eclectic group. “The lowest producer makes about $150,000 and the biggest producer makes about $3.5 million,” Reardon told PLANADVISER. “Those numbers look better than almost any out there, when you compare them to Merrill Lynch or Smith Barney.”
 

One advantage to advisers is the range of specialties BCGS offer clients, Reardon pointed out, with some advisers focusing only on qualified retirement plans, while some do nothing but financial planning, or health insurance. Yet others specialize in investment analysis or brokerage trading. “When you single out each one, it’s odd that almost everyone is successful,” Reardon said.

“The video will provide advisers with the ability to learn more about the benefits of going independent, transitioning, and the support BCG Securities provides so they can build and grow their practice, their way,” Reardon said. The video launched January 2 and has already brought in a group of consultants, he said.

The BCG Securities’ video is here.

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