| MORE THAN 150 INDEPENDENT BROKER-DEALERS JOIN
BD ADVANTAGE TO CUT COSTS AND ACCESS TOP SERVICES
IRVINE, Calif., November 8, 2001 – More than
150 independent broker-dealers are cutting costs and improving their competitive position by joining BD Advantage, a leading provider of technology and other services to firms around the country.
BD Advantage was founded by a group of brokerage industry veterans who wanted to offer independent firms access to a variety of affordable services, including the latest technology for clearing trades, getting quotes and providing online trading – all at lower cost.
BD Advantage uses the combined buying power and clout of its membership to negotiate better rates for a variety of services and provide technology that enhances services to clients.
“Our members are realizing substantial cost savings because we can connect them with excellent providers at rates that are generally unavailable otherwise,” said Lance Hicks, President of BD Advantage.
“In today’s marketplace, firms are fighting to stay up-to-date with technology and service,” Mr. Hicks said. “We help them win that battle – and remain independent.”
BD Advantage was launched less than a year ago and already has more than 100 broker-dealers as registered members.
“We see BD Advantage as a great opportunity for the independent broker-dealer community to have access to technology that up to this point has been prohibitively expensive,” said Mark White of Lawrence Helfant Inc., a leading NYSE floor broker that works with BD Advantage members.
“BD Advantage gives us the ability to be among a group of similarly sized BDs and be able to receive good clearing service at a cost commensurate with large competitor firms,” said Shep Goldberg, president of Cumberland Brokerage in Vineland, N.J.
Membership in BD Advantage is free and registered broker-dealers can sign up by visiting www.bdadvantage.com. The website offers an online meeting place for broker-dealers to share information and gain access to BD Advantage’s professional services and compliance support.
About BD Advantage
BD Advantage was launched in June 2000 to meet the needs of the 2,500 independent, regional brokerage firms around the country. By pooling its members together and increasing their buying clout, BD Advantage has been able to negotiate cost-saving rates for such things as clearing, professional support services, online trading and compliance. The company also develops proprietary tools to facilitate these services. For more information or to join BD Advantage, visit our website at
www.bdadvantage.com |