For such a small firm, Norcross, Ga.-based Triad Advisors is surprisingly flexible. And it's paying off; gross revenue is up 48% through the third quarter 2010 versus the same period the year before. President and CEO Mark Mettelman explains how they're doing it.
Q: How has your recruiting been, and do you plan to grow out of the boutique broker-dealer size?
A: We were acquired by Ladenburg Thalmann in August 2008. Because of the size of their platform, it gives our advisors access to more syndicate offerings and investment banking-type deals. It really expands our open architecture platform. We're just under 490 advisors, and 2010 was a very good recruiting year in terms of quality for us. But it's important to us to keep that boutique feel and family atmosphere that we're known for, so we're very careful about who and how many we take on.
Q: Are you going after wirehouse guys, and if so, how do you convince them to go independent?
A: Here in the Atlanta area, payout is not a determining factor for wirehouse guys going independent; neither is a particular custodian with which a firm has aligned. Culture is the determining factor; that feeling of a true partnership. If they're fed up with the pressure in New York or the employer vs. employee business model, they can talk with us. But we won't try to convince them to go independent. Once they've decided on the independent channel, then we'll tell them what we have to offer.
