Securities America Hires Michael Forster as Regional Director for Financial Institutions Branch Office Development
Securities America, a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTSL, LTS PrA, LTSF, LTSK), has hired experienced recruiting executive Michael Forster as regional director for the Financial Institutions Division. In his new role, Forster will be responsible for driving further expansion of Securities America’s presence among bank and credit union-based wealth management programs across the country.
“As we seek to continue our growth in the bank and credit union-based wealth management channel, we continually aim to bring the best talent in the industry to our team. That has certainly been the case with our hiring of Michael Forster, who brings a wealth of experience, skill, and connections to our platform,” said Jim Norwood, president of Securities America’s Financial Institution Division. “We are confident Michael will be a strong fit with our team and make tremendous contributions to our strategic goal of driving significant expansion in the financial institutions channel.”
Forster will be responsible for leveraging Securities America’s broad resources and strong value proposition to take the Financial Institution Division’s recruiting efforts to new heights. The division works with more than 125 bank and credit union-based wealth management programs nationwide, servicing over $4.2 billion in total AUM. It seeks to foster the success of its financial institution partners by delivering extraordinary service, professional business development support and user-friendly technology resources. The group excels at onboarding large advisor groups through organic recruiting efforts and acquisitions, as well as in working with newly-formed advisor groups.
Forster began his career as a financial advisor and became a recruiter in 2010. He quickly established himself as a high performer in terms of recruited gross-dealer concessions (GDC), assisting recruited advisors with smooth transitions, and providing solutions for advisors amid the changing regulatory landscape and increasing client expectations.
“Bank and credit union-based wealth management programs are a vital part of the growth strategy for Securities America, and hiring respected leaders like Michael Forster to supercharge our recruiting efforts shows how seriously we take that strategy,” said Gregg Johnson, Securities America’s executive vice president of branch office development and acquisitions. “We want to be the destination of choice for growing institutions-based wealth management programs who share our commitment to client service and are seeking to bring even greater value to their advisors and clients.”
Forster is enthusiastic about serving as Securities America’s regional director for financial institutions branch office development. “I am very excited to join such a dynamic team, and to have the opportunity to contribute to the continued growth of Securities America’s Financial Institutions Division,” he said.
“I look forward to leveraging the insights I have developed in helping to build successful financial institutions-focused businesses, and to drive continued success for Securities America. As a former financial advisor myself, I am eager to work with growth-oriented advisors to help them benefit from the opportunities our bank and credit union-based wealth management programs have to offer.”
The Financial Institutions Division recently convened its fifth annual Financial Institutions Conference in Omaha, Aug. 16-17, where the focus was to help drive the continued growth of its institutions-based financial advisors and program leaders. The conference featured a unique opportunity for these professionals to hear directly from the Securities America leaders and managers who support them each day, and from leading product partners. Highlights of the event included a panel discussion on new developments within each area of the Financial Institutions Division, presentations on maximizing non-qualified assets, effectively leveraging Securities America’s practice management resources and extensive networking opportunities.