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“Small-broker Coalition offers Crucial Savings” |
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“In business, sometimes there’s safety – and strength – in numbers. That’s the thinking behind a new group that brings together small independent broker-dealers, along with investment advisors, to save money.” |
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“New Company Offers Smaller, Independent Broker Dealers
A Leg Up in Struggle to Compete with the Big Boys” |
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“… BD Advantage ….(is) the ‘Triple A (“AAA”) of independent broker-dealers, negotiating member benefits’….the only company offering such benefits….to this community.
BDA...(provides) strategies for ‘surviving and thriving’ in a competitive industry dominated by large firms.” |
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“Brokerage Firms Team Up to Bargain Hunt” |
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“… BD Advantage ….. brings together numerous small and medium-sized firms so they can increase their bargaining power…..the firm has negotiated discounts with about a dozen service providers, including high profile companies such as Lawrence Helfant Inc., an NYSE floor broker, and CalSurance, a broker insurance group …” |
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| “Comments & Quotes from Members” |
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| Shep
Goldberg, president, Cumberland Brokerage |
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“Our costs were too high. Now trading costs are down and our company will become profitable sooner because of (BDA’s) savings. An independent B/D, on its own, typically doesn’t have a lot of leverage. With BD Advantage, now there’s an economy of scale.” |
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| Joshua Helme, COO, Tradeway
Securities |
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“BDA is a pioneer in forging a ‘collective mentality’ among firms…but doesn’t force independent broker-dealers to relinquish their individual identities or uniqueness. Companies doing under $50 million in annual gross revenues absolutely can benefit from BD Advantage. BDA enables firms….to compete with (larger) firms… We estimate we’re saving between 30% - 50% per ticket on our trading costs, thanks to the ‘Advantage’ Clearing arrangement negotiated by BDA. Our number one consideration in joining BDA was the ability to lower the firm’s operating costs.” |
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| John Schooler, president, WFP Securities
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“The one thing is, these guys (at BDA) know their business. They’ve been in the industry a long time, which establishes a high degree of comfort level. BDA is a ‘really needed thing’, because as a smaller firm, you have virtually no economy of scale when going out to price things.” |
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