In an effort to help its advisors double their assets under management to as much as twice their current amount, Southwest Securities has brought on a new technology platform and services.
Dallas-based Southwest has brought on Creative Management Group and its ProjectDouble platform to work one-on-one with brokerage firm's financial advisors in its private client group.
"A lot of brokers are interested in growing their business and attracting new clients, and we felt that if we employed an outside consultant to help them organize their activities and organize their approach to their business that they would be more successful and able to deliver a higher level of service to their client," Larry Tate, director of retail at Dallas-based Southwest Securities, said in a telephone interview.
Creative Management, based in Atlanta, Ga., will offer services that will range from helping with organization, segmenting clients, as well as individual branding and marketing initiatives. Check-ins between the individual broker and Hunter's team from CMG will be weekly.
"It's almost like an a la carte service," Southwest's Tate said. "The broker can choose what he wants to work on and what areas he wants to focus on."
Southwest Securities selected CMG because of those services as well as some prior dealings Tate had with the consulting group. CMG's platform expects to double advisors' asset s and production in 18 to 36 months, and Tate says that he has seen that happen.
"I've had experience with Hunter and his group in the past and that was also a part of the reason we selected them," Tate said. "I'd worked with them in the past and knew their capabilities."
Advisors can opt in and out of the program on a monthly basis, so it's likely not all 160 of Southwest Securities' financial advisors will participate at once.