Contact: Kaitlin Friedmann |
News Room Press Releases FOR IMMEDIATE RELEASE
PRINCETON JUNCTION, NJ – April 29, 2009 – The National Association of Independent Broker/Dealers (NAIBD), an advocate for small and independent broker/dealers for almost 30 years, has announced new member programs and a heightened focus on independent broker/dealer (IBD) advocacy, as applications surge in light of the recent financial crisis.
According to a recent Registered Rep. survey of 1,459 advisors, 63% said they might change firms in the next two years. One in four advisors said they are considering or would consider starting an independent advisory business.
“With the influx of BD’s going independent, we are looking closely at how we can better serve this community and provide one strong, unified voice,” said Steve Distante, Chairman of NAIBD and CEO of Vanderbilt Securities, based in Melville, NY.
NAIBD, which regularly provides a professional forum for sharing information by hosting several educational meetings per year, has expanded their educational outreach by offering timely Webinars to help guide IBD’s through new industry issues and provide direct access to board members and qualified speakers. Webinar attendance is free for all members. Webinar topics will include Small Firm Representatives to the FINRA Board Speak Out and Compliance Issues Posed by Social Networking.
NAIBD has also recently increased its advocacy initiatives to ensure that new regulations are fair by educating lawmakers and regulators on the potential impact on the IBD community. The Member Advocacy Committee (MAC) generated political awareness of the small firm broker/dealer community this spring when board members Lisa Roth and Jim Williams traveled to Capitol Hill to meet with a key member of Congressman Paul Kanjorski's staff, as well as other lawmakers representing the districts in which they live, to discuss proposed amendments to the bill H.R. 1212 and concerns of raised fees if the PCAOB (Public Company Accounting Oversight Board) were to eliminate the non-public category of the PCAOB registration.
In addition, NAIBD now provides a comprehensive health insurance program to help provide for 1099 contractors and their families.
“NAIBD is a trade organization that lobbies for the needs of the small and regional firms that are not big enough to be heard individually,” said David Sobel, NAIBD Board member and Executive Vice President and CCO of Abel/Noser Corp, based in New York. “It behooves every small and regional BD to become a member of the NAIBD and support its activities. Without letting your voice be heard, there will be no “self” in the self regulatory system,” he added.
NAIBD was formed in 1979 by broker/dealers who met regularly to discuss areas of common interest such as due diligence, compliance and regulation. The organization is comprised of 150 independent broker/dealer and industry providers and suppliers from across the country. The association board of directors is composed of industry experts from varying areas of specialty and geographic locations, including New York, Florida and California. For more information on NAIBD, please visit www.naibd.org.
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About the National Association of Independent Broker/Dealers (NAIBD) NAIBD works together with Independent Broker/Dealer owners and principals, industry product and service providers, and the SEC, FINRA and state regulatory organizations to improve the securities industry as a whole. The association recognizes the needs of the industry and its members by hosting national meetings, rapidly distributing critical regulatory details and product/service offers, supplying feedback to SEC, FINRA and state regulators. For more information, please visit www.naibd.org.
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NATIONAL ASSOCIATION OF INDEPENDENT BROKER DEALERS
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