the torch A p u b l i c at i o n o f G I R A R D S E C U R I T I E S
in this issue
2013 Year in Review
2013 NEC Highlights
Tactical Yield Model Launch
“Never Quit” Marcus Luttrell Pictured (Left to Right): Richard Woltman, Marcus Luttrell, Susie and Scott Tietjen
Girard’s AwardWinning Technology
Winter 2014 1
Girardâ€™s Strategic Partners Girard Securities appreciates the significant support provided by the following corporate sponsors. Because of their partnerships, we are able to offer you some of the best advisor events in the industry. PLATINUM
In This Issue A Message from Susie
2013 Year in Review
A Message From Supervision
Conferences and Events 13
In the Family
Financial Advisor News
Home Office News
Girardâ€™s Award-Winning 31 Technology
A Message from Susie Tietjen As I look forward to 2014 and what is sure to be a great year for Girard, I can’t help but look back on 2013 and feel exceptionally proud of the efforts of the entire Girard team. As I said in my State of the Company speech at the National Education Conference, a team is a group of people with a full set of complementary skills required to complete a task, job or project. When there is a strong sense of mutual commitment toward common goals and shared rewards, teams become more than a collection of people. They become a group capable of great things. Our team at the Home Office is deeply committed to transforming Girard from good to great. This sense of commitment has created synergy and generated results far greater than what any one person could accomplish alone. 2013 was a year of progress and forward movement and I encourage you to read more about our team’s accomplishments in the
State of the Company section of this issue. This edition of The Torch is a special issue for us for a number of reasons. First we highlight the incredibly successful 2013 National Education Conference. It was our best conference ever—hands down. We’ve been hosting these events for nine years now, and the feedback we received from all of you is that the 2013 conference exceeded expectations on many levels. There were so many outstanding presentations but the most memorable was, without a doubt, Marcus Luttrell’s keynote speech. His presentation was so moving and emotional that when he finished, it was as if all the air left the room. The second reason this is a special issue of The Torch is that we have dedicated a section to family. This section is particularly meaningful to me because I work with both my father and my husband, and there are home office staff and advisors who work with relatives as well. The experience of working
for my father for 21 years has been nothing short of exceptional and I am truly blessed to have such an exemplary man as my father and my mentor. I am also blessed to work with my husband Scott. Running Girard can be a 24/7 job and he is incredibly supportive of me and my commitment to the company. It has also been incredibly important to me to foster a feeling of family amongst the Home Office staff and all of you. You’ve heard me say many times that Girard is a company with a commitment to family—the family given to us and the family born from our partnership. So, it seemed appropriate that we spotlight those family members who work together as part of Girard. In addition to the sections on the NEC, family members working together, and the list of our accomplishments in 2013, this issue has many informative articles. The production club members for 2013 are identified as well as those
who have qualified for the Leaders & Partners Conference in Hawaii. We also added a new Business Development section, written by Dave Bombart. Dave is responsible for Girard’s recruiting initiatives and his section is dedicated to sharing those recruiting efforts. Be sure to check this out as we had a very good year in 2013 in terms of recruiting. As we head into a new year, I want to take a moment and let all of you know how much I appreciate your business, loyalty and friendship and for being a part of the Girard family. On behalf of all of us at the Home Office, I wish you and your families, the best in 2014.
Susie Tietjen CEO/President Girard Securities, Inc.
New Home Office Staff!
In 2013, We Welcomed Seven New Members to Our Home Office Team.
David Bombart Vice President, Business Development Licenses: 6 & 63
Anny Choi Transition Specialist Licenses: 7 & 63
Ann DiGiorgio Compliance Officer Licenses: 7, 24, 53, 63, 66 & 27, Professional Fiduciary, FINRA Arbitrator and Certified Securities Compliance Professional for Broker/Dealers, Investment Advisors and Hedge Funds
Huy Nguyen Regional Manager & Due Diligence Analyst Licenses: 3, 4, 7, 24, 27, 53, 55, 66, 86 & 87, CA Insurance License
Huy Nguyen, Traci Tarpy Sherrod, Glenn Pollack
New Accounts Specialist Licenses: 7 & 63
Glenn Pollack Prime Relationship Manager & Regional OSJ Licenses: 4, 7, 8,14, 24, 53, 63 & 79
Traci Tarpy Sherrod Assistant Vice President, Enterprise Risk Management & OSJ Supervision Licenses: 3, 4, 7, 24, 63, 66 & 53, CA Insurance License & FINRA Arbitrator
Ann DiGiorgio 5
Year in Review by Susie Tietjen President & CEO 2013 was a year of transition for the executive team as it was the first full calendar year for Girard’s new Chief Operating Officer, John Barragan and Chief Compliance Officer, Patti Kuhlman. With new leadership came change for the company, which at times was challenging. At the same time, the change has been energizing as we have made great strides in strengthening the 6
company and there are many exciting things in store for us in 2014.
New Faces In 2013, Girard welcomed seven new staff members to the home office team. During the hiring process we placed greater emphasis on character attributes than on specific educational background and work experience. It’s not that we don’t think education and work experience are important,
it’s just that these traits are teachable whereas character, work ethic and dedication to fulfilling commitments are more ingrained. It has been an absolute pleasure getting to know each one of the new team members. They are all outstanding individuals who have the right combination of character, education and experience. They are all great additions to the Girard family!
Commission Accounting Shirley Klicman, Girard’s CFO and her team of Jessica Lane, Maxine Vargas, Victoria Gonzales and Jacklyn McCray successfully managed a conversion to a new commission processing system.
Compliance Patti Kuhlman, Girard’s Chief Compliance Officer, spent the majority of her
YEAR END COMMENTS
time in 2013 redesigning, Girard’s compliance program to ensure that it prevents, detects and corrects securities law violations. This was a significant undertaking, but was accomplished because Patti is driven to produce the best results she is capable of and dedicated to protecting Girard. With the help of Ann DiGiorgio and Cheryl Appleby, the ladies have reshaped Girard’s Compliance Department. The results of their efforts include: • Revised Girard’s Written Supervisory Procedures • Multiple Form Revisions • Standardization of Disclosures and the Advertising Review Process • Successful FINRA Audit • Enhanced RIA Compliance Program • Streamlined Branch Audit Deficiency Follow-up
Two New Leadership Councils Two new leadership councils were formed in 2013. The goal of each of these councils is to increase the sense of
partnership between the home office and branch offices and leverage the unique knowledge and skill sets of the home office, advisors and assistants and improve our collective experience. The two new councils are: Compliance Leadership Council led by Traci Tarpy Sherrod Assistant Leadership Council led by Claire Maurer
Conferences We hosted two extremely successful conferences in 2013. Our Leaders & Partners Conference was held on the Big Island of Hawaii and honored our top-producing advisors. Our National Education Conference was held at the Loews Coronado Bay Resort, and featured a very special keynote speaker-Marcus Luttrell, highly decorated Navy SEAL and great American. 2013 also marked our very first Assistant University, an event so successful that it sold out in less than 24 hours!
Operations & Technology John Barragan, Girard’s Chief Operating Officer,
spent a significant amount of time in 2013 on a number of technology projects (see page 9). One of our most exciting projects, our upgrade to Laserfiche Rio, will transform the way Girard utilizes workflow to process your documents. The Laserfiche Rio upgrade coupled with the Redtail, Laser App and DocuSign projects bring significant value to Girard’s technology deliverable. We are bringing you world class technology solutions that will enhance your experience with the home office and increase efficiency in your branch office. Laserfiche was so impressed by our innovation that they selected us as a recipient of their distinguished Run Smarter Award. See Home Office News for more on this. Girard also caught the attention of Laserapp in 2013. John Barragan and Claire Maurer were asked to present during their 2013 Broker/Dealer Conference.
Recruiting 2013 was an excellent year in terms of recruiting. With efforts led by Dave Bombart, our Vice
President of Business Development, Girard welcomed 30 new advisors representing 6.5 million in production. Girard now has a total of 252 advisors and 91 registered admins.
Revenue Girard’s fiscal year ends in March. For the fiscal year April 2012 through March 2013 we grossed $50 million in revenue. For the fiscal year April 2013 through March 2014 we are projecting $53 million in gross revenues.
Looking Forward We are optimistic that 2014 will be our best year yet. Our direction is clear and we must continue to focus intently on what we can control: providing our customers with the best service and comprehensive technology solutions. The upgrade to Laserfiche Rio will transform, standardize and simplify workflow, the partnerships with Laser App, Laserfiche, DocuSign and Redtail put us on the path toward an end-to-end solution, the new home office team members have strengthened and re-energized the team, the caliber of advisors who are joining Girard are world 7
YEAR END COMMENTS
class and our pipeline is filled with many more. We are also looking forward to several very exciting events that will bring us closer together and enhance the Girard experience. These events are: April 24 - 26 Ignite Study Group – Rancho Las Palmas Resort – Palm Springs, CA May 30 - June 2 Leaders & Partners Conference – Maui, HI October 1 - 5 National Education Conference – San Diego, CA As I look back on the past 12 months, I can’t help but
say, “what a difference a year makes.” What we’ve accomplished reminds me of what’s possible when we work hard and stay true to our values. As an organization we have a lot to be proud of, yet we must continue to earn our success, your trust and respect every day. As an organization we need to be conscious and thoughtful in every interaction recognizing that we are in the business of servicing people. I am blessed to lead a remarkable group of individuals at the home office and can say that in the 21 years I’ve been in this business, the team we have assembled is by far the finest I’ve ever had the privilege to be associated
with. I am grateful to each one of them for their dedication and loyalty and commitment to Girard. I am also grateful to all of our advisors and their staff, especially given all that changed at the home office in 2013. I know change is unsettling so I am grateful for your trust, confidence, loyalty and commitment to our partnership. There is no question Girard is better and stronger than we were 12 months ago and there is no question in my mind that 12 months from now I will be saying the same thing. Girard is a company with strong values and it’s those values along with our valued customers,
partners and staff that fuel our growth and success. I’d like to pause and say thank you, to each and every one of you who have joined our journey and our team. It’s the spirit of working together that enable us to create a great organization. Thank you for your ongoing support as we continue on our journey from good to great. We couldn’t do it without all of you.
Susie Tietjen CEO/President Girard Securities, Inc.
2013 COMPLIANCE AND TECHNOLOGY INITIATIVES
2013 Compliance Initiatives In her first full year as Chief Compliance Officer, Patti Kuhlman’s main goal was to reinforce and modernize Girard’s compliance program. Below is a list of initiatives she took on: • Re-write Written Supervisory Procedures • Update Alternative Investment Guidelines • Update Alternative Investment and Variable Annuity Point of Sale Disclosure Documents Patti Kuhlman Chief Compliance Officer
• Standardize Communications with the Public Review and Approval Process • Reinforce overall culture of compliance • Increase training and regulatory communications with the home office and branch offices
• Prepare for routine FINRA exam • Expand Outside RIA Supervision Program In addition to the above, Patti also led the Home Office Team and a few branch offices through a routine FINRA Exam. The exam resulted in only 2 minor deficiencies and was (from Girard’s perspective) the most successful audit in our 12 year history.
2013 Technology Initiatives In his first full year as Chief Operating Officer, John Barragan has made dramatic improvements to Girard’s technology offerings. The following initiatives ensure that we remain on the forefront of technology and efficiency, providing all of you with cuttingedge features that help you make the most of your practice:
Enhanced Backup of Network Data: Q1 2013 Enhanced Home Office IT Network Security: Q1 2013 Redtail Integration with Netx360: September 2013 Redtail Integration with Streetscape: September 2013 John Barragan Chief Operating Officer
Email Encryption: September 2013 LaserApp Anywhere: September 2013
DST Vision Professional: October 2013 Mobile Check Deposit with NFS/Streetscape: October 2013 myStreetscape Client Self Enrollment: October 2013 DocuSign e-signature: October 2013 Whole Disk Encryption for FA PCs: Q2 2014 completion date 9
Warning Signs of Dementia As an advisor, you may not see your clients more than a few times a year. When you are not familiar with a person’s baseline behaviors, the following may be warning signs that you should suggest a power of attorney or be including a family member in your meetings.
1. Memory loss that disrupts daily life This is the most common sign, and may manifest when clients ask for the same information over and over, or forget important names and dates.
2. Challenges with solving problems If your client is unable to balance a checkbook or perform simple computations, it may be cause for concern.
3. Difficulty completing familiar tasks Clients may be unable to process information or complete documents, and may have difficulty with bill payments and budgeting.
4. Confusion with time and place A client with dementia may lose track of dates, seasons, or the passage of time.
5. Trouble with visual images 6. Problems speaking or writing If you notice a client having difficulty forming words or completing paperwork, it may be a sign of early dementia.
7. Repeatedly losing documents or correspondence
10. Changes in mood or personality
Increased forgetfulness may be a warning sign.
Clients’ unusual behavior is often one of the first indicators of dementia.
8. Decreased or poor judgment If a client seems to be making irrational or impulsive decisions, take caution.
9. Withdrawal from social activity Take note if a client is increasingly isolated or stops attending meetings.
Document your observations and keep your notes in the client file. Contact family members if the condition persists. Establish or encourage a power of attorney for the individual. Remember that knowing your customer (“KYC” ) sometimes extends beyond the client’s financial well-being.
COMPLIANCE AND SUPERVISION
We have seen an increase in enforcement and disciplinary actions against Reps/Advisors for accommodation forgery. Accommodation forgery is a form of forgery that can occur with or without the client’s knowledge or consent. Accommodation forgery can occur when a client misses an initial on a form and it is not discovered until after the client completes and signs the forms. The representative speaks with the client and gets permission to initial the form. Even though the client gives verbal permission to the advisor, this is considered accommodation forgery.
is committing accommodation forgery. All changes to a customer signed document must be initialed by that customer.
data, place the correct data above the crossed out language and have the client initial next to the correction.
When you are correcting or amending client paperwork, never use White Out. Instead, simply cross out the inaccurate
Reps and advisors should also understand that, in many cases, the regulators don’t care if you have permission to
sign someone’s name to a document. Oftentimes, because of a deadline, a customer may ask a broker to sign his or her name to the document. Generally speaking, that’s not forgery in a legal sense, and is not a crime, because permission has been granted. However, many
Or perhaps a customer completes a form, there is an error made in one section, and the representative fixes the error without the customer’s permission. By altering the document, even with the intent of correcting the information, the representative 11 11
COMPLIANCE AND SUPERVISION
regulators still find that conduct to be a violation of industry rules. For example, FINRA has a long list of disciplinary cases holding that it is always improper for a person to sign a customer’s name to any document. Doing so violates Rule 2110: Standards of Commercial Honor and Principles of Trade, according to these cases. It is not necessary to prove damage, deceit or injury to be found guilty.
Rep and advisors should be aware of the firm’s policies regarding signing other person’s name, adding a client initials to a form and making corrective actions to a customer signed form. It is prohibited and violations can result in disciplinary action by the firm and, as discussed above, disciplinary action by the regulators.
Yelp for brokerage clients. When a client or prospect look at your record and sees the “bad review” that
you forged or falsified documents, you know what happens next. Don’t take the chance!
Remember, FINRA’s BrokerCheck is just like
A Message from Supervision
From left: Huy Nguyen, Traci Tarpy Sherrod, Glenn Pollack At Girard Securities we take your business and partnership very seriously. We wanted to take this opportunity to let you know that Supervision is more than just preapproval, email reviews and trade blotter review. 12
We want to be partners in your success and see your practice grow. We know it can be difficult to go back to clients with a disapproved trade and explain why a solicited transaction
wasn’t approved by the Supervision group. With that said, we wanted to take the opportunity to tell you that Supervision is available to look over proposed transactions and review them for suitability and conformance with Girard/industry rules and guidelines prior to solicitation. By allowing us the opportunity to pre-review a proposed solicitation, we are able to capture some of the issues that may cause you to have to go back to the client for clarification or corrections.
Our goal is to approve all of the transactions you submit. Incorporating us into your process in advance, particularly for transactions that may be questioned, will help to eliminate these delays and rejections. Please know that we really do value your practice and you as an advisor. Your success means our success. We are here to help!
CONFERENCES AND EVENTS
Elite Team Training Girard Securities wrapped up the 2013 â€œElite Team Trainingâ€? National Education Conference in October after three days of networking, educational sessions and award presentations. The feedback from our advisors has been unanimous: this was our best NEC yet! Many thanks to the exceptional advisors, sponsors and speakers who participated and helped make it great!
CONFERENCES AND EVENTS
CONFERENCES AND EVENTS
The Ignite Study Group Our conference kicked off a day early with the inaugural meeting of the “Ignite” Financial Advisor Study Group led by Girard advisor Mike Owens. Contributing to the spirit of teamwork emphasized by this year’s theme, Mike led advisors through a full day of personal growth and professional development, with advisors exchanging business-building ideas and planning techniques. The Ignite Study Group met with an overwhelmingly positive response and will hold biannual meetings beginning in 2014.
CONFERENCES AND EVENTS
Speakers & Sessions The three-day main conference featured key topics such as our new technology initiatives, insight into succession planning, and tips from our Compliance department on how to best serve senior clients. In addition to the breakout sessions, our sponsor fair was bigger and better than ever, with representatives from National Financial, Pershing, and a wide array of product sponsors.
Cheryl Appleby’s Memorable Performance One of the highlights for anyone who attended the Compliance breakout session was Compliance Officer Cheryl Appleby’s hilarious performance as “Betty Whyte,” an elderly client involved in an arbitration case. Cheryl’s alter-ego won her the “Elite Team Training” award at the Final Night Dinner-and an impersonation by Jason Rogers! 16
CONFERENCES AND EVENTS
Marcus Luttrell’s Keynote Speech The most memorable moment of this year’s NEC, was undoubtedly the keynote speech by Marcus Luttrell, decorated Navy SEAL and bestselling author of “Lone Survivor.” On the final day of the conference, Marcus took the stage to share his powerful story of courage and survival with our family of advisors. His inspiring address was a once-in-a-lifetime experience we won’t soon forget, and each of our advisors left the conference with a signed copy of his memoir.
Girard Honors Marcus Luttrell Marcus’ honor to be placed on the Mount Soledad Veterans Memorial in San Diego, California. This plaque honors an elite patriotic warrior who survived the unimaginable. We are honored to have heard Marcus’ speech, and thank him for his courage and sacrifice.
When Scott and Susie Tietjen first read Marcus’ book Lone Survivor, they were awed by his courage, teamwork, and dedication. Having Marcus speak at the NEC was an incredible
honor, and everyone in attendance was touched by his story. The more Scott and Susie learned about Marcus and his journey, the more
they felt compelled to do something to honor his heroism. The Woltman/ Tietjen family, on behalf of Girard, decided to commission a granite plaque (pictured above) in
Learn more about the Mount Soledad Veterans Memorial by visiting www. soledadmemorial.com, or visit our Facebook page for a video featuring Susie Tietjen and her dad, Richard Woltman.
CONFERENCES AND EVENTS
Final Night Awards Dinner On the final evening of the conference, dinner was held in the ballroom and awards were presented to Girard’s top producers and outstanding home office staff. The event was hosted by Navy SEAL trainee Jason Rogers and featured a hilarious video of Jason’s journey to join the military (viewable now on our Facebook page!). After this year’s inspiring conference, every member of the Girard team returned to their home offices even more motivated to succeed. The camaraderie we experienced at the conference, and the relationships we created and developed, reinforced for all of us that what we can accomplish as a team is endless.
5 Years of Service
10 Years of Service
Linda Williams Mutual Fund Compliance, Licensing & Registration Assistant
Greg LaRiccia AVP, Trade Support & Risk Management
Linda Williams, who assists Patti and the Compliance Team and Jacklyn in Licensing and Registration, has been providing Girard with dedicated service for 5 years. During the time she has been with Girard, Linda’s role has evolved from monitoring mutual fund breakpoints to assisting Jacklyn with the on-boarding of new advisors. Most recently, she has taken on more
responsibilities in the Compliance Department. Linda is very friendly and personable and genuinely cares about her co-workers and the Girard advisors. She is a joy to work with and we appreciate all she does for Girard!
2013 marks the tenth year of service for Greg LaRiccia, Girard’s AVP of Trade Support & Risk Management. Although Greg has been with Girard for 10 years, he has worked for the Woltmans for 21 years, starting at Sentra Securities in 1992 — the same year as Susie Woltman. Between 1992 and 2003, he held jobs in Cashiering, Mutual Fund Trading and Equity Trading. In 2003, Greg joined Girard and has been a loyal and dedicated employee. One could say Greg has grown up professionally
with the Woltmans. Although the industry, Sentra/Spelman and Girard have seen a lot of change in the past 21 years, one thing has remained the same — Greg’s loyalty and dedication. He’s been there through the good times and the challenges. His sense of humor is second to none and he keeps everyone in the Home Office laughing and entertained. Greg is one of the reasons there is a strong sense of family at Girard! Greg, thank you for your dedication.
EMPLOYEE AWARDS AND 2013 TOP PRODUCERS
Employee of the Year Claire Maurer AVP, Advisor Relations
We are proud to announce that Claire Maurer, Girard’s AVP of Advisor Relations, was named the 2013 Employee of the Year! Over the last year, many team members have worked diligently on a number of projects to benefit all our advisors—but one employee stood out for her dedication and passion for helping our advisors. Whether it’s learning new technology, or stepping up to train new employees, Girard can always count
on Claire’s efforts. Her dedication and willingness to work on your behalf, that of Girard and for her team is obvious when you speak with her. When John Barragan suggested several employees read the book Lean In by Facebook COO Sheryl Sandberg, she was the first to do so. We are certain her career trajectory will continue up. This young lady is a rising star at Girard and this year’s employee of the year award goes to Claire Maurer!
2013 TOP PRODUCERS AND AWARD WINNERS MILLION DOLLAR CLUB $1,000,000+ Ryan Craner Rhonda Ferguson Chris Gleason Porter Landreth John Simon Rich Toscano Joe Vizzini Bonnie Wusz
CHAIRMAN’S CLUB $750,000 - $1,000,000 Pam Dumonceau Mark Hill Hank Kochan
DIRECTOR’S CLUB $500,000 - $750,000 Stan Bartnick 20
Mike Keeler Jim Kuntz Bob Lee Tim Redmond Jena Schuster Gary Shemano Robert Wolfe
PRESIDENT’S CLUB $350,000 - $500,000 Dave Allred Tom Baumler Matt Beary Erwin Buck Julia Cheng Greg Cooley Rob Davenport Michael Duncan Kathleen Hansen Scott Huddleston Mike Jarvis John Lau
Jeff Lysaught John Mata Mike Matrise Mike Owens Brent Pahnke David Peterson John Roberts Royce Ruth Gary Sagarnaga Scott Woodring
VARIABLE INSURANCE PRODUCER OF THE YEAR
TOP PRODUCER OF THE YEAR
NEWCOMER OF THE YEAR
OFFICE OF THE YEAR Strategic Legacy Advisors
MUTUAL FUND PRODUCER OF THE YEAR Bonnie Wusz
INVESTMENT ADVISOR OF THE YEAR John Simon & Rich Toscano
Assistant University February 21–22, 2014 • San Diego, CA The Home Office hosted the second annual Assistant University in February 2014! The Assistant University provided a valuable opportunity for office staff from across the country to network with other Girard admins, attend important training sessions, and see our Home Office staff in action. The response to last year’s event was overwhelmingly positive, and we raised the bar even higher this year!
• Laserfiche Rio, our 2014 Laserfiche system upgrade • DocuSign electronic signatures & paperless processing • Social media strategies for your practice
Leaders & Partners Conference May 30–June 2, 2014 • Fairmont Kea Lani, Maui, HI The Leaders & Partners Conference is exclusively for Girard’s top producers – those advisors who have generated $350,000 or more in GDC. Below is a list of who have qualified for the 2014 Leaders & Partners Conference: Dave Allred
April 24-26, 2014 • Rancho Las Palmas, Palm Springs, CA
The Ignite Study Group is an exclusive advisor only study group. The purpose of the group is to provide Girard advisors with an opportunity to achieve a higher level of personal growth and professional development. Through mutual support and growth in an educational context, advisors can broaden their perspective on the industry and their careers.
• Home office roundtables and panel discussions • And more! Due to the event’s popularity, this year’s Assistant University sold out in less than 24 hours!
This year’s theme was Office Heroes and featured important practice management topics such as:
Ignite Study Group
Jena Schuster, Girard Advisor and founding partner of SB Wealth Strategies is hosting the April meeting. For information please contact Jena at 949-701-4455 or firstname.lastname@example.org
2014LEADERS & PARTNERS CONFERENCE
May 30 - June 2, 2014
The Fairmont Kei Lani, Maui, Hawaii
2014NATIONAL EDUCATION CONFERENCE
October 1 - 5, 2014
Manchester Grand Hyatt, San Diego, CA
up of speakers, educational experiences and networking opportunities, for what we will be our best conference to date. This year’s theme, Take the Checkered Flag, embodies what we feel is a critical need—and opportunity—in today’s marketplace. As our industry grows ever more competitive, it’s vital that we are well prepared for what it means to not only stay in the race, but be equipped to win, both now and in the future. There are few sensations as rewarding as the thrill of winning. And in the world of automotive racing, there are few things as rewarding as crossing the finish line and taking the checkered flag. But to get there takes a combination of meticulous preparation, the right car, a skilled driver and of course a talented and devoted support team. This year’s NEC will build on these themes, as we explore how these concepts apply to success in our industry.
This year’s National Education Conference promises to be the best yet, as we focus on what it takes to succeed in today’s highly competitive and ever-changing market. This October, Girard Advisors, staff, team members and sponsors will gather at the elegant Manchester Grand Hyatt hotel in beautiful downtown San Diego for the 2014 National Education Conference. We’re assembling a world-class line22
And as much as a winning racing strategy is about going fast, it’s also about preparation, endurance and hard work. Accomplished race car driver Roger Penske famously said, “The harder I work, the luckier I become.” A successful strategy in racing is to put all the pieces together—equipment, driver, support team, strategy and effort—and show up on race day prepared for competition. Warm up your engines folks, and we’ll see you on race day for NEC 2014, Take the Checkered Flag.
IN IN THE THE FAMIL FAMILY Y
In the Family
WOLTMAN & TIETJEN
Girard has always been a “family” company, and we know that many of our advisors feel the same about their businesses. Whether it’s a husband and wife team working together or a parent working to pass their practice on to the next generation, we wanted to highlight the Girard families working together.
FOCUS FINANCIAL GROUP Above - Left to right: Scott Tietjen, Susie Tietjen, Richard Woltman
Below - Left to right: Eric Tweeden (son in-law of Mike Matrise), Joe Matrise (son of Mike Matrise), Mike Matrise, Bart Lia (2nd cousin of Mike Matrise), Derek Winn (son in-law of Mike Matrise).
Above - 1st row left to right: Wilma Turner (Vice President/Owner), James Mathias (President/Owner) 2nd row standing starting from the left: Amanda Robinson (Wilma’s daughter), Jake Turner (Wilma’s son), Emily Mathias (James’ daughter), Leah Gill (Wilma’s sister), Hannah Turner (Wilma’s daughter)
Guy Landolfi and Adam Landolfi
Ted Kampbell and Josh Kampbell
Mother/Daughter not pictured: Maxine Vargas & Victoria Gonzales Julia & Stephanie Cheng
Tina & Jessica Lane
Father/Daughter not pictured: Frank & Stephanie Snyder Joe & Georgiana Gatt
Uncle/Nephew not pictured:
Roger Hubley & Amy Bethke
Royce & Ryan Ruth
Father/Son not pictured: Dave Shapiro and Josh Shapiro, Thad Dunn and Jerald Dunn
STEPFATHER & DAUGHTER
Richard Woltman & Susan Tietjen
MOTHER & DAUGHTER
Dwain Owens and sons Anthony and Tyson Owens
FATHER & DAUGHTER
Mike Owens & Matt Owens
FATHER & SON
IN THE FAMILY
Stan Bartnick & Rebecca Briggs
IN IN THE THE FAMIL FAMILY Y
MOTHER & SON Myrna & Brian Grigsby
Rhonda & Scott Ferguson
FATHER-IN-LAW & SON-IN LAW
Nola & Lloyd Leuthner Gary Morris & Mike Waters
Art Geldbach & Mike Keeler
Porter Landreth & Tae Eo 25
Stan & Lisa Secor
Phil & Francine Cook
Allen & Sherry Taylor
Scott & Susie Tietjen
Peter & Ana DeSantis
John & Mary Delaney
Bob & Rachael Barber
John & Kristin Mata
Hank & Jinx Kochan
Husband/Wife not pictured: Greg & Karen Cooley Don & Barbara Foster Joe & Paula Gertie Chris & Carol Gleason Ken & Rosemarie Osborn
Dave & Cindy Allred 26
HUSBAND & WIFE
IN THE FAMILY
IN THE FAMILY
FINANCIAL ADVISOR NEWS IN THE FAMIL Y
TOP 10 Producers February
Mike Keeler Attends Financial Planning Association Meeting in India and Nepal works. Some things that really stuck out to me:
• India will have a hard time convincing people to invest in assets other than gold and real estate
1. Pam Dumonceau
• India has some heavy hitters in the mutual fund industry that will help change people’s ideas about investing
2. Ryan Craner 3. Joe Vizzini 4. Mike Jarvis 5. Porter Landreth 6. Wayne Williams 7. Bonnie Wusz 8. Tom Baumler 9. John Simon 10. Mike Keeler
Mike Keeler from our Las Vegas, NV office recently traveled to India and Nepal with the Financial Planning Association. The group met with Financial Standards Planning Board of India and a number of planners in India. The goal of the trip was to share ideas and learn what is happening in our industry in India. One day the group attended a conference in Mumbai which was attended by 180 planners. Mike was selected
Wayne Williams Named Business Man of the Year 2013 by Arcadia Chamber of Commerce Wayne Williams, President of Professional Advisory Services has been awarded by the city of Arcadia and Chamber of Commerce “Business Man of the Year 2013”. Arcadia is a city of 60,000 residents in a community of upscale homes. Our schools and the Arcadia High
to be a panelist on the topic of industry regulation. One of the biggest challenges for financial planners in India is getting people beyond the mindset of investing in only real estate and gold. Mike had the following to say about the experience “Getting to meet financial planners in India was a wonderful experience. While this profession is relatively young in India (10 years or so), they are learning from the US and embracing what
• There are some real talented financial planners in India • Indians are limited by the government on investments outside the country • The government outlawed commissions a few years ago forcing anybody left in the industry to move to a fee based model It is exciting to see India embracing the financial planning model.
School band are ranked nationally with more top awards than any other school in California. The centerpiece of the city is Santa Anita Race Track & the Los Angeles Arboretum and Botanical Gardens. Mr. Williams’ has lived & served in the city for over 30 years. He has participated in the city’s youth programs & while alongside his wife Suzanne, clothed thousands of needy children through the School Bell program. He is presently serving as a director of the Arcadia Chamber of Commerce. We congratulate him for his exceptional service to our children, our city and our business community. Scott Hettrich, CEO Arcadia Chamber of Commerce 27
FINANCIAL ADVISOR NEWS
FINANCIAL ADVISOR NEWS
â€œPerfect-Matchâ€? Succession Agreement Between Advisors Stan Bartnick and Jena Schuster We are pleased to announce a succession agreement and eventual practice acquisition between Girard advisors Stan Bartnick, owner of Bartnick Financial Group, Inc. in Newport Beach, CA and Jena Schuster, Principal of SB Wealth Strategies in Mission Viejo, CA. According to Stan, â€œitâ€™s a perfect match, both structurally and culturally. I couldnâ€™t envision a better person to acquire my firm.â€? Both Stan and Jena are located in Orange County and serve similar clientele. Jena has been with Girard since 2002 and understands the importance of a succession plan, having worked and transitioned into her fatherâ€™s business. The transition of Bartnickâ€™s practice will occur over the next 3 years and will include a close working relationship between the two advisors, as Schuster learns some of the important details of Bartnickâ€™s practice, processes and client relationships. The structure of the succession plan is not unique but would not be taking place if it were not for Girardâ€™s willingness to connect advisors and consult on the transactions for everyoneâ€™s mutual benefit. Girard also offers financing for select practices through its Loan Acquisition Program. For more information on how Girard can assist with your succession planning please contact John Barragan at 858-622-2140 ext. 205 or email@example.com.
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FINANCIAL ADVISOR NEWS IN THE FAMIL Y
Bond Bombs Most Advisors have concluded that the 30 year bull market in traditional bonds is over and that rising rates are ahead. Rising rates are obviously very destructive to traditional bond portfolios. Therefore, buy and hold in your fixed income allocation may become painful. The question then becomes how to restructure your fixed income allocations for this new challenge.
We track every major component of the world’s bond markets every day. When we see a rally developing, usually after a sell-off, we put that bond component through a series of technical and fundamental tests. If it passes these tests we start buying that sector and immediately enforce a strict, ratcheting stop-loss beneath it. If we are right, the sector moves up with
the stop-loss floating up beneath it. If we haven’t already sold when it rolls over, the stop-loss takes us out. We can and have owned multiple bond sectors but market action usually focuses us in one or two sectors. Currently we are 70% in convertible bonds which are not range bound by par as are many other bond sectors at present. There are obviously many other facets to performance including relative strength, inherent alpha, trending, liquidity protocols, fund selection,
stop-loss spacing, near zero cost long calls, information in bond pricing, pricing inefficiencies, and flash crash issues. Our accounts were up approximately 10.6%* in 2013. We look forward to making this tactical fixed income portfolio available to you and to answering any questions you may have. Don’t get bombed by higher rates. *Per Albridge/Ashland
Porter R Landreth CFS, CLU, ChFC Asset One LLC
The traditional response to this problem is to reduce duration dramatically. However, with short term rates near zero this strategy will be lucky to break-even. Your clients may not be happy with break-even. The other response is to utilize a tactical bond manager of which there are a few with wide ranges of past results. Asset One LLC is partnering with Girard, to provide the Tactical Yield Portfolio with the Girard Asset Management Account. The launch date will be sometime in mid 2014. You may view the updated track record at our site www. assetonellc.com at the lower right of the homepage. Our methodology is as follows.
From Ashland reviewed Performance
HOME OFFICE NEWS
HOME OFFICE NEWS
Dollars for Denim Program Dollars for Denim is a voluntary employee program designed to help Girard give back to the community in ways that are especially important to its home office staff. With Dollars for Denim, employees are given the option of wearing denim to work in exchange for a donation of $1.00 per day, $3.00 per week or $36.00 per quarter and Girard matches $2.00 for every dollar donated. During 2013 the Home Office raised over $3,200.00! The funds will distributed to the following charities: ARTS – A Reason to Survive (ARTS) was founded on the philosophy that the visual and performing arts can literally transform kids lives. Casa de Amparo – Casa de Amparo has been treating and preventing child abuse and neglect in San Diego County for over 30 years. CAF – Challenged Athletes Foundation (CAF) strengthens the mental and physical well-being of veterans and first responders with permanent physical injuries through sports and fitness opportunities in order to empower them to re-integrate into the community. PAWS – PAWS San Diego preserves the human-animal bond by providing essential pet services and support to low-income, elderly, chronically ill and disabled individuals. Support the Enlisted Project (STEP)- Support The Enlisted Project (STEP) - www.stepsocal.org: Formerly known as Operation Homefront Southern California, Support The Enlisted Project (STEP) provides emergency financial grants to junior enlisted military service members and their families.
Girard is thrilled to welcome Anny Choi on board as our Transition Associate and newest team member!
Anny Choi Transition Associate 30
Anny comes to Girard with 4 years of industry experience, having previously worked for TD Ameritrade Institutional. The majority of Anny’s experience is on the Transition side, with a heavy background in New Accounts, Banking, and Relationship Management. With her dedication to providing exceptional
service, Anny has been an excellent addition to our team from day one. Anny currently holds FINRA 7 and 63 licenses and plans on acquiring her 24 in 2014. She is also a Laserfiche Certified Specialist. Anny is originally from the greater Los Angeles area of California. She attended the University of California, San Diego where she obtained her
BA in Sociology, with a minor in Education Studies. Having lived near the ocean her entire life, she now lives in the Pacific Beach area of San Diego. She finds cooking and yoga her therapy, and enjoys travelling, exploring, and discovering new restaurants, cuisines, and cultures.
HOME IN OFFICE NEWS THE FAMIL Y
Regulatory Advocacy Susie Tietjen Named to FINRA District 2 Committee Susie Tietjen was selected by FINRA to be a member of the District 2 Committee. District Committees serve an important function in advising FINRA on industry trends of regulatory concern and providing input on the practical impact of FINRA’s regulatory programs. Committee members also fulfill the important function of serving as panelists in FINRA disciplinary proceedings.
Leaping Forward with
Mike Owens Named to FSI Financial Advisor Council
Mike Owens from our Lincoln,NE office was invited to serve on FSI’s Financial Advisor Council – and he gladly accepted the invitation. The Financial Advisor Council comprised of top-producing financial advisors from multiple firms around the country, is responsible for helping FSI enhance its membership experience, serving as a sounding board to FSI senior leadership and encouraging other advisors in their respective firms to get actively engaged in FSI’s advocacy activities. Mike’s participation on the Council will help create a more business-friendly regulatory environment for our organization and your clients.
to Anny Choi and for earning their Laserfiche Specialist Certifications! Laserfiche awarded the Run Smarter Award in the financial
Girard Securities Wins Laserfiche
“Run Smarter Award” The Run Smarter Award is the most distinguished award given each year by technology leader Laserfiche. Award recipients are selected by a committee of experts, and are chosen based on the creativity of their use of Laserfiche for business automation, the operational improvements they’ve realized, and the potential for their projects to inspire other users to think more inventively about the use of Laserfiche in their own organization.
services category to Girard. Every year, Laserfiche recognizes innovative users of the Laserfiche product suite, especially ones that inspire others to think more inventively within their own organizations. The Run Smarter Award is Laserfiche’s most prestigious award and Girard is honored to be a 2013 recipient.
In 2013, Girard upgraded to Laserfiche Rio, leveraging Laserfiche Workflow and Laserfiche Forms to automate, simplify and secure processes between the field and the home office. The development of this newly upgraded technology, and particularly the use of workflow automation, is one of many steps Girard has taken to improve efficiency and security for the Girard corporate office and Girard advisors. The new workflow system will go live in Q2 2014.
Congratulations to Anthony Owens who also earned his Laserfiche Specialist Certification! 31
Business Development Building an Even Better Girard My role here at Girard seems simple: Grow the firm. It’s actually quite challenging, but I wouldn’t trade it for any other position in the firm.
by David Bombart VP, Business Development This is my first article for the Torch, so bear with me. I’m excited, and when I’m excited I tend to wander. In order to avoid losing you I’ll break this into sections, starting with… What the Heck is Business Development? My role here at Girard seems simple: Grow the firm. It’s actually quite challenging, but I wouldn’t trade it for any other position in the firm. I work with advisors at other broker dealers who aren’t lucky enough to be part of a company like Girard where everyone truly cares about them as people. They’re unhappy for a variety of reasons and I share with them the benefits of working with us: The strong technology, the incredible service, the 32
wonderful people and family atmosphere… but I don’t need to tell you, you experience it every day! I also work with current Girard Advisors who are interested in recruiting additional advisors to their branches, or want to find local practices to acquire. If you’d like to chat about possible opportunities near you please reach out to me! Wow, What a Year! Take a look at the list of new advisors here at Girard in 2013 (next page)! This year alone, 30 experienced, successful advisors explored the vast field of independent broker dealers available, and out of all those firms (and there are more than you think), they chose Girard. That says something about us. And it says something about all of you. We are humbled and deeply grateful. Thank you. What’s New for 2014? Beginning in January we launched Girard’s first-ever advertising campaign! We are running full-page ads in Investment Advisor magazine in select issues
over the course of the year. The series is geared towards independent advisors at larger broker-dealers who are looking for a more service-oriented firm. The magazine is available and free for financial advisors, so go to www.thinkadvisor. com to subscribe today. Also, Investment Advisor magazine sponsors the annual Independent Broker/ Dealer of the Year awards. Each year during the month of June, advisors are given the opportunity to complete a survey online evaluating their firm. The CEO’s of winning b/d’s (firms are split into 4 categories based on size) are interviewed and the firms receive wonderful industry recognition. Girard will be included in this year’s survey, and I think we can win. Keep your eyes peeled for more information about this as we get closer to June. Opportunities Abound for Girard There is so much opportunity for Girard in 2014 I can barely contain myself! The industry is poised for a tremendous
flight from large one-sizefits-all b/d’s to mid-sized firms like Girard. Why? Let’s be realistic: I sincerely doubt any of you chose Girard because there’s a mutual fund, or annuity, or REIT, or anything you can offer you clients here that isn’t also available at 1000 other firms. You’re here because of this simple fact: Culture matters. You want to work with a firm that cares. About you. About your clients. About our employees. About all of our futures together. Right now there are literally THOUSANDS of financial advisors unhappy with their b/d, and they’re not quite sure why. They may think it’s high fees or low payouts, poor technology or overbearing compliance, error-riddled home office service or a lack of this-or-that. It’s none of those things, and all of them. They’re all symptoms of a company culture that doesn’t put the advisor first. This is why the Girard story resonates with them, and this is why they leave with a smile and a feeling of hope after a visit to our home office. This is why I love recruiting for Girard. Thank you all for the opportunity, and I look forward to getting to know each and every one of you. Living the Dream,
BUSINESS DEVELOPMENT IN THE FAMILY
2013 New Advisors A Year of Business Development
United Capital Financial Advisors
John Balmer Randy Berry Marc Click
Bridge Wealth Management Group United Capital Financial Advisors Legacy Wealth Compendium Group LLC United Capital Financial Advisors
Rancho Santa Margarita, CA Alpharetta, GA Louisville, KY
LPL Financial PPA Investments Park Avenue Securities
Artifex Advisory Group
Cambridge Wadell & Reed Metlife Securities LPL Financial LPL Financial LPL Financial LPL Financial Invest Financial Merrill Lynch McDonald Partners LPL Financial Reuters Commonwealth New England Securities Securian Financial Services LPL Financial PPA Investments Raymond James Financial Services Nationwide Securities Edward Jones Princor New England Securities PPA Investments LPL Financial
Charles Costa Josh Elliott Joe Gertie Donald Hamme Rory Hart John Link Greg Lopez Brent Lott Jim Mathias & Wilma Turner Quinn McElwee Todd McManamon Dennis McMurray Matthew Mellier Lillian Meyers Aleksas Modestas Peter Mulligan
NetWorth Asset Management United Capital Financial Advisors United Capital Financial Advisors Oswald Financial Lott and Associates Focus Financial Group
Cary, NC Palmdale, CA Lansdale, PA Irvine, CA Irvine, CA Cleveland, OH Orem, UT Bingham Farms, MI
United Capital Financial Advisors Oswald Financial Bridge Wealth Management Group Mogul Wealth Management Meyers Financial United Capital Financial Advisors United Capital Financial Advisors
Fort Collins, CO Cleveland, OH Rancho Santa Margarita, CA Manhattan Beach, CA Sonoma, CA Chicago, IL Morristown, NJ
Daniel Pichardo Andrew Ramsey Ryan Roloff
Bridge Wealth Management Group United Capital Financial Advisors Roloff Wealth Management
Rancho Santa Margarita, CA Alpharetta, GA Clovis, CA
Phil Scholler Cliff Shum Frank Snyder Mark Ulicny Corley Watson Bardie Wolfe
Wealthmark Advisory Services Shum Financial Snyder Wealth Advisors United Capital Financial Advisors United Capital Financial Advisors United Capital Financial Advisors
Columbus, OH Alameda, CA Missouri City, TX Bethesda, MD Alpharetta, GA Broomfield, CO
Join Girard’s Stay Connected! Private Group “Like” Us on LinkedIn On Facebook Girard’s group on LinkedIn offers you a valuable way to stay in touch with the home office staff and your fellow advisors.
If you are interested in joining this group, please contact Scott Tietjen at firstname.lastname@example.org
Girard Securities on Twitter
Girard is offering you more valuable ways to get—and stay—in touch with your home office and fellow advisors! Be one of the first to “Like” our new Facebook page and stay up-to-date on news from the Home Office team!
To find us, just enter “Girard Securities Inc” into the search bar in Facebook. Contact Scott Tietjen at email@example.com with any questions or for a direct link to the page. We look forward to sharing more exciting information about our social media initiatives with you at this year’s NEC.
LEADING INDEPENDENT BROKER/DEALER 34
Please remember that all users of social media such as Facebook must adhere to the Compliance regulations detailed in Girard’s Written Supervisory Procedures Manual.
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WHY ARE YOUR FIXED INCOME INVESTMENTS AT RISK? OPPORTUNITY DOES STILL EXIST . . . Tired of being told to ride out market corrections? Stuck in a portfolio that offers too much risk? With over 30 years of experience, we have managed through 4 recessions and 6 rising rate markets. BTSâ€™ investment approach is based on combining our proprietary technology, our focus on preservation of capital, and our need to help minimize downside risk with the goal of delivering performance in all market environments. For a consultation, you may contact a BTS team member at 800 343 3040.