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Booz Allen Hamilton (NYSE: BAH) has been at the forefront of strategy and technology for more than 100 years. Today, the firm provides management and technology consulting and engineering services to leading Fortune 500 corporations, governments, and not-for-p... more.
Vice President, Senior Loan Officer
Morgan Stanley & Co.
Georgetown Club of Metropolitan New York - Transitioning Your Career in 2014 Breakfast Panel
Glenn Fischer, Financial Adviser at Morgan Stanley
Two years ago, Smith Barney branch office manager Glenn Fischer was downsized.
In January 2009, after spending 18 years as a non-producing branch manager of then Smith Barney's Garden City, NY branch, which consistently ranked in the firm's top quintile, Fischer was asked to step down and move back into production. Soon thereafter, the office became part of a larger complex now run by his former regional director. Nine months later, in September, 2009, Fischer became the CEO and non-producing branch manager of Garden City-based New York Wealth Management Group, an independent firm affiliated with Raymond James Financial Services. Today, he has a staff of 13, eight of whom are financial advisors, and he oversees a combined total of more than $400 million in client assets. "I believe you'll ultimately be seeing more branch managers doing what I did," says Fischer. "We've only begun to see the fallout from recent industry consolidation-like the mergers between Morgan Stanley and Smith Barney, Bank of America and Merrill and even Wells Fargo and Wachovia," he adds. While Fischer and his partner Joseph Scotto put up 100 percent of the start-up costs, they are only keeping a 65 percent ownership stake. "We want to give a piece of the business to my advisors, based on their production," says Fischer. Fischer admits his earnings took a hit when he initially went independent, but things are starting to turn around as his firm continues its steady growth. Scotto, who joined Fischer from the Smith Barney branch, continues to produce. And Fischer is back to doing what he loves best: coaching and recruiting. "I truly love doing what I'm doing now," he says.
Career Center | NYSSA
Glenn Fischer, long-time Smith Barney broker, launches New York Wealth Management in affiliation with Raymond James Financial [Reuters] Iberiabank elevates H. Gregg Strader to chief credit officer, Anthony Restel remains CFO [Iberiabank, via PRN] BNY Mellon Wealth Management hires Orgill as Las Vegas salees director [Family Wealth Report] Insurance brokerage Hylant Group hires Terry Morman as VP-Carrier Relations [Hylant Group, via PRN] Tina M. Talarchyk joins business advisory law firm McDonald Hopkins LLC in... Read more
Aiming to be bigger than everyone else in the independent channel, ex-Smith Barney Branch manager, Glenn Fischer, opened New York Wealth Management in Garden City, NY two weeks ago.
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Glenn Fischer, long-time Smith Barney broker, launches New York Wealth Management in affiliation with Raymond James Financial