Succession planning for corporate leadership focuses on sustainability, independence
HOLBROOK, N.Y. (Jan. 30, 2020)—American Portfolios Financial Services, Inc. (AP) is pleased to formally announce that Tim O’Grady has officially assumed the role of president for the privately-held, independent broker/dealer (IBD), serving more than 700 producing investment professionals nationwide.
The promotion was informally announced to the firm’s affiliated colleagues this past October at AP’s annual national conference, Connections 2019, during CEO, CIO and former President Lon T. Dolber’s State of the Firm Address. Throughout his speech, Dolber spoke about the importance of succession planning—not just for its affiliated colleagues and their practices, but within its corporate leadership for those who are committed to keeping the firm sustainable and independent. “A company is not a great company if it depends on only one leader; everybody has to be relied upon for providing guidance and stewardship. For the last 15 years, we’ve been fortunate to have Tim with us for his ability to draw talented investment professionals to AP, zeroing in on their needs and giving them tools as business owners to operate successful, independent financial services practices. Without question, Tim’s innate understanding of both the business and AP’s ethos can be attributed to our success over the years and I believe wholeheartedly he is the natural successor to take the broker/dealer into a new level of growth.”
A Talent for Recruiting Good Talent
O’Grady began his tenure at AP as a consultant after attending one of the firm’s conferences, where he became convinced his acquired expertise could help the then-fledgling independent broker/dealer go far. He struck up a unique proposition with Dolber, initially refusing payment for his services in order to prove that his method of recruiting new talent was the right direction in which the firm should move. That unique proposition would pay dividends in no time. Through O’Grady’s sheer know-how, gift for relationship building, and measured and balanced negotiations dealings, he—and then with his expanding team—helped AP grow from a firm that now services over 700 producing investment professionals and their associates nationwide, with more than $30 billion in AUM. His leadership has also contributed to one of the firm’s proudest recognitions—being named Broker-Dealer of the Year* by Investment Advisor magazine for five consecutive years.
In his role as president of American Portfolios Financial Services, Inc., O’Grady acts as the eyes and ears of the firm, working collaboratively with all departments across all initiatives in order to grow the broker/dealer in all facets. More specifically, he works with the compliance area to handle the broker/dealer’s regulatory requirements outlined by FINRA and the SEC, and ensures the broker/dealer functions optimally from a customer relationship management standpoint. O’Grady serves as the main point of contact for the firm’s affiliated financial advisors, to arbitrate and/or advocate getting the services and support they need from AP in order to conduct business in a highly efficient and effective manner.
O’Grady continues to oversee all national sales development and recruiting for the firm, as well as supervising the Connections, regional, and Leaders Conference meetings for new and existing colleagues to ensure alignment. He and his team are responsible for all new business and branch development, which includes attracting new practices, as well as supporting the growth of existing offices.
AP possesses a finely-tuned operation that includes a tight-knit team of dedicated and skilled staff members in three areas: new business development – advisor relations, new business development – recruiting and focus partner relations.
Vice President of New Business Development and Advisor Relations David Molter oversees the team responsible for sales reporting, customer-facing initiatives and AP-affiliated, advisor-centered goals, which include: 1) Vice President of National Sales Kenneth Aulbach, whose main focus is on the overall development of advisory and broker/dealer sales, as well as recruiting; 2) Director of Practice Management Corey Brodsky, who interfaces with the AP advisor community to develop actionable plans to scale and grow their practices; 3) Director of Insurance Products Keith Carravone, who assists AP advisors on all types of annuities, life insurance, long term care and disability insurance; and 4) Business Consultants Thomas LoManto, Kaitlyn Stanley and Michael Boccio.
Working to bring recruiting to the next level is Director of New Business Development Carl Kirchner and New Business Development Consultant Mark Ferro, a former divisional sales manager for OppenheimerFunds.
Fostering and maintaining new and existing focus partner relationships is Director of Sales Operations Kristina Garrison and New Business Development Associate Denise Shaljian. The team is hard at work building out a robust, value-added meeting schedule for AP’s 2020 Connections Tour.
About American Portfolios
Headquartered in Holbrook, N.Y., American Portfolios Financial Services, Inc. (APFS) is a full-service, independent broker/dealer and member firm of FINRA and SIPC, offering a complete range of financial services, including personal financial and retirement planning, securities trading, mutual funds, access to investment research, long-term care planning, insurance products and tax-free investing. Fee-based asset management is offered through its sister subsidiary, American Portfolios Advisors, Inc., (APA), an SEC Registered Investment Advisor. Both entities, along with technology entity American Portfolios Advisory Solutions, LLC, collectively reside under the legal entity American Portfolios Holdings, Inc. (APH). Full-service securities brokerage is available through a clearing firm relationship with Pershing, LLC, a BNY Mellon firm, the securities of which are held on a fully disclosed basis. The company currently supports 826 independent investment professionals, to include registered assistants, as well as more than 375 non-registered associates, located in 396 branch locations throughout the nation. It was named Broker-Dealer of the Year* (Division III) by Investment Advisor magazine in 2015, 2016, 2017, 2018 and 2019; a wealthmanagement.com 2019 Industry Award Finalist in the category of Enhanced Customer Service Support**; one of the Best Companies to Work for in the state of New York for 2016, 2017, 2018 and 2019 by the New York State Society for Human Resources Management (NYS-SHRM) and the Best Companies Group (BCG); and one of the Top Long Island Workplaces for 2018 by Newsday.
* Based on a poll of registered representatives conducted by Investment Advisor magazine. Broker/dealers rated highest by their representatives are awarded “Broker/Dealer (B/D) of the Year.”
** Wealthmanagement.com Industry Award finalists are selected by a panel of independent judges made up of subject matter experts in the industry. Award is based on support provided to AP’s affiliated people and does not reflect public customers nor their account performance.