I have the privilege to report that SSN has been recognized for the third year in a row by REP. Magazine and WealthManagement.com as one of the top ten independent broker dealers for 2015. You may access the results here: Top Broker Rated IBDs. In January, registered representatives were asked to rate their current BD on several items related to their satisfaction. Ratings are based on a 1-to-10 scale, with 10 representing the highest satisfaction level: SSN scored a 9.5! This proves that we are delivering on our brand promise of fanatical service, competitive products, comprehensive technology and legendary payouts, all adding up to a package that means the last BD you’ll ever need! Thank you to all of the SSN reps who participated in the survey thereby bestowing this prestigious honor on SSN.
There have been some exciting developments on our Encompass advisory program, and more are planned for the remainder of the year. First, we are capitalizing on our relationship with Ladenburg Thalmann to the benefit of SSN advisors. Our sister company, Ladenburg Thalmann Asset Management (LTAM), has provided SSN allocations corresponding to five objectives. These allocations are free for all Encompass users to aid in the creation of their own models. The allocations pertain to the objectives below:
- Current Income
- Growth and Income
- Maximum Growth
Second, we have enabled LTAM’s “Vantage” models on the Encompass platform. These models, with the same objectives as above, include the investment selection for each asset class, resulting in turn-key model solutions. Advisor use of these models eliminates the need to establish and maintain allocations, research and maintain investments, optimize models, etc.
Third, SSN is moving forward creating a new platform, Encompass SMA, which will enable subscribers to research and select from a list of third party managers. These managers will run the gamut, from total account management to management of specific asset classes like fixed income or alternatives. The list of managers will likely start off small, but will build based on subscriber feedback and perceived need.
Last, SSN is working on a Unified Managed Account (UMA) platform. Whereas a separate account may be needed for each asset class on an SMA platform, a UMA platform allows several asset managers, including the advisor, to manage investments within a single account. The client completes one set of paperwork, then gets the benefit of multiple managers each doing what they do best for the portfolio.
With target dates for SMA and UMA programs in the second quarter, one can see what a busy year this will be for the Encompass platform. These additional features and programs are on top of the existing “Rep as Manager” business which continues to boom. With their addition, SSN will be able to deliver on our goal of providing a comprehensive advisory solution, whether advisor or third-party managed.
I want to thank Christopher P. Wadley for his many years of service on the SSN Advisory Council and let him know that his presence will be missed as he recently stepped down from the advisory council. Chris has been a Securities Service Network representative in Jacksonville, Florida affiliated since 1997 and he received SSN’s prestigious Steven L. Coffey Award in 2010. SSN advisors have certainly benefitted from Chris’ representation of their interests and we, at the corporate office, appreciate his efforts to help us meet our demand for constant improvement.