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.
APR 21, 2009
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."

Latest News

SEC to lose Hester Peirce, deepening a commissioner crisis
SEC to lose Hester Peirce, deepening a commissioner crisis

The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.

Florida B-D, RIA owner pitches bold long-term plan to sell to advisors
Florida B-D, RIA owner pitches bold long-term plan to sell to advisors

IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.

Fintech bytes: Vanilla, Wealth.com forge new estate planning partnerships
Fintech bytes: Vanilla, Wealth.com forge new estate planning partnerships

Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.

Fiduciary failure: Ex-advisor who sold practice fined after clients lost millions
Fiduciary failure: Ex-advisor who sold practice fined after clients lost millions

A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.

Why the evolution of ETFs is changing the due diligence equation
Why the evolution of ETFs is changing the due diligence equation

As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.

SPONSORED Are hedge funds the missing ingredient?

Wellington explores how multi strategy hedge funds may enhance diversification

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management