Botsford Group exec to acquire firms and hire advisers aggressively

Executives at The Botsford Group are aiming to capitalize on the downturn in the markets, and the disruption it's caused in the financial advisory industry, by aggressively acquiring and hiring advisers in the coming months. "There are a number of advisers who are totally paralyzed right now," said Erin Botsford, president and chief executive officer of the Frisco, Texas-based firm, which advises $700 million in assets. "They're losing clients, and they're also losing confidence in their own abilities," continued Ms. Botsford, whose firm is affiliated with FSC Securities Corp. of Atlanta. "And some are currently looking to get out of the business altogether." Such a dislocation, she added, has created opportunities for her firm to hold talks with a number of advisers in recent months. As a result, The Botsford Group, which currently has 16 staff members, is looking to more than double its head count in the not-to-distant future, Ms. Botsford said. Her strategy is to add roughly 10 people, either through acquisitions or individual hires, in the firm’s headquarters and another 10 individuals in its Atlanta office. Also, Ms. Botsford plans to bring on an unspecified number of people to work in the firm's Princeton, N.J. office. "There are a lot of advisers who have contacted us in the last few months because they want a new story to tell their clients," she said. "They want a fresh start."