Broker/dealers should fire underperformers, consultant urges

04/28/2006 | Registered Rep.

As independent broker/dealers gathered for the Security Industry Association's Second Annual Independent Firms conference this week, they were congratulated on the industry's remarkable growth -- the top 25 firms amassed nearly $10 billion in revenues in 2005, an 18% increase from 2004, according to SIA president Mark Lackritz. But a tolerance for poor performers is hurting many in the industry, according to Mark Tibergien, a consultant with Moss Adams, who said, "You have to ask yourself if you can afford to support these people."

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