NIBA - Celebrating 35 Years

NIBA Journal

Insights, analysis, and updates from the National Introducing Brokers Association

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Marketing
4 min read

Understanding Public Perceptions on the Market with Technical Analysis | Part 1

A number of Nobel Prize winning theories start with the assumption that investors are rational. In the real world, many investment professionals discover through their daily interactions with investors that there are occasional bouts of irrationality. In discussing the markets with the public, it’s important to understand this since questions and firmly held beliefs could be rooted in that irrational behavior. Rational investors most likely only exist in Modern Portfolio Theory. The argument makes sense intuitively. Investors will buy the portfolio that maximizes the potential returns while minimizing their personal preference for risk. But in the rule world, emotions like far and greed, infiltrate the decision making process. Potential returns are generally defined by discounting the future cash flows of an investment back to its present value. In theory, some investments will be undervalued and these should be bought. Others will be overvalued and would be avoided, or sold short...

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Marketing
3 min read

Stand Apart From Your Competitors | Build Power With a Strong Brand

by Lida Citroën Principal | LIDA360, LLC Become intentional as you build your personal brand Branding gives experience to something intangible; it gives names to the qualities I feel when I work or interact with you. Unlike marketing, which is when we direct an audience to action, branding sets the emotional expectations and promises between you and your target audience. Here are some ways you can become more intentional and focused as you build your brand: You can start by becoming intentional about the words you chose, the company you keep and the way you represent yourself. Your audience is looking for consistency and relevancy. Consider how you want to be perceived, the reputation you want in the world, then intentionally create a path in that direction. Think about how you are behaving – are you acting like someone you want to be? Are you behaving in an arrogant, pushy...

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Marketing
4 min read

Inbound Marketing for IBs and CTAs

At the NIBA conference next month, Phil and I will be talking about how IBs and CTAs can leverage inbound marketing to improve the effectiveness of your marketing programs and attract more leads. To prepare, I thought it might be helpful to introduce some of the concepts we’ll be discussing. Inbound Marketing versus Interruption Marketing Traditionally, marketers have used various forms of what is now called “interruption marketing” to gain attention from their target prospects. Whether the technique is radio advertising, , email marketing or cold calling; the marketing message essentially interrupts the prospect’s train of thought. This approach is becoming less and less effective over time for two reasons: Noise: It is estimated that your prospects encounter 2,000 marketing interruptions per day. It’s very hard (and expensive) to ensure that your message is heard above the cacophony. Filtering: Your prospects are finding new and creative ways to block your...

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Marketing
2 min read

Grow Your Business by Hiring the Right People

The financial job market has changed since Parkway Consulting was founded over 25 years ago. Today’s IB and CTA owners look for technology “know-how” as well as good sales and service skills, and market knowledge. While finding qualified candidates is always one of the top concerns of financial business owners, the solution can be as simple as looking to referrals from your present and past employees, or your business network. Conferences, like NIBA meetings, and trade shows such as the FIA Expo, are also great places to meet experienced professionals. Once you have several resumes to select from, you will want to check for any compliance or discipline history, research the firms the candidate has worked with in the past and begin to rank the job-seekers. Preparing for the interview and following through with that plan during the interview will assure you have asked the questions about the topics and...

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Marketing
3 min read

Stand Apart From Your Competitors | Build Power With a Strong Brand

by Lida Citroën Principal | LIDA360, LLC Building your personal brand Successful executives across the globe are also embracing the power of "personal branding" to intentionally build a reputation for themselves and their companies that maintains this competitive advantage - in person and in the online world. Reputation counts when growing personal brands (and professional reputations). How your clients - and prospects - staff, peers and stakeholders perceive you has a direct impact on the loyalty, engagement and revenues you will generate. We hire professionals who have the necessary qualifications, and who make us feel a certain way. We know them to be capable. What causes us to "buy" - to hire them - is how we expect we will feel working with them. It has been said, "We act on logic... and we buy on emotion." Professionals with strong personal brands show up consistently and authentically. They have achieved...

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Marketing
6 min read

Retail Forex Comes In From the Cold

by Erich Grant, Shift Forex On October 18th 2010 the NFA and CFTC issued a set of new rules governing the retail forex industry, dramatically tightening the regulatory regime under which forex firms operate. Many in the retail forex industry feared the new set of regulations would push most or almost all of the business out of the United States. Indeed, many market participants have been forced to cease doing business or have pulled out of the country and stopped accepting US clients. Far from destroying the industry, these new regulations have laid the groundwork for the next dramatic stage in the forex growth story. While tightened regulations have decreased the per-trade profitability for brokers and some market participants, the newly legitimized industry can now begin to further build its reputation and promote the spread of forex as a true alternative asset class. US-based customers are now legally mandated to...

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Marketing
4 min read

Jackass Investing: Don’t do it. Profit from it.

Also released under the title: Exploiting the Myths Published 2011 by Ignite LLC In this informative, entertaining, and quick read, the author - Mike Dever, Founder, CEO & Director of Research of Brandywine Asset Management examines the misconceptions or “myths” of current investment theory and replaces it with what he describes as a "return driver" based methodology that results in both greater returns and lower risk. I read the entire book on a recent flight from San Diego to Chicago to attend a NIBA meeting. I wasn't planning on finishing it in one sitting but once I started I couldn't stop. It is very well written, and I thoroughly enjoyed it. A few weeks later I had the book with me again on a flight back from vacationing in Colorado. A fellow passenger noticed the provocative title and commented, “Jackass investing? All investing is jackass investing…nobody makes money investing.” If...

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Marketing
3 min read

Sciota Trading | Focus on the Membership July 2011

About the Firm: How did you get started? Do you provide additional services besides brokerage? We originally started as a small IB in Minnesota which wanted to expand into Iowa. I was hired to start the Iowa office. In the beginning it was all cold calling, all the time. It was very hard work, but after a tough first couple years it started to pay off. Our primary business today is cash grain and livestock marketing consulting. We use brokerage to assist us with achieving the risk management and pricing goals of our clients. What are the biggest challenges your clients face today, and how do you help them? The extremely volatile price action in the last several years has really increased risk for the ag producers we work with. Costs are skyrocketing along with output values. We help clients by trying to make the complexity of the various market...

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Marketing
6 min read

Outlook for Copper: A case for higher prices?

OUTLOOK FOR COPPER: "COPPER - A CASE FOR HIGHER PRICES?": In terms of prices, the first-half of this year has fared far better than many were expecting.The broader economic climate has already shown signs of improvement and has surprised many analysts whom had not forecasted this occurrence until the 4Q. However, it appears that the market bulls had got ahead of the game in Copper as prices have seen five consecutive monthly closes higher, and we are presently sitting in view of making it six in a row. The question is where has this optimism come from when economists have been proclaiming doom-and-gloom from the demand-side perspective... A significant part of the stronger picture has been derived from the voracious appetite of China, the world's largest consumer of the metal. Copper imports into China have leapt to record levels as the State Reserve Bureau has increased its strategic stockpile buying....

By NIBARead article
Marketing
3 min read

Stand Apart From Your Competitors | Build Power with a Strong Brand

by Lida Citroën Principal | LIDA360, LLC Imagine you are a client looking to find an introducing broker. To you, there is no clear difference between one broker over another. How would you choose? Most likely, all things being equal, you would chose the least expensive one. After all, why would you pay more – all things being equal? In brand marketing, we call this a commodity sale: The consumer chooses based on price when there is no clear differentiation of perceived value. Is this how you want your brokerage clients to chose you? Is your value to your clients that you are the cheapest solution to their needs? Are all things created equal when choosing a broker? What is a personal brand? A brand is an emotional connection in the hearts of your clients and the audiences they influence. Branding helps companies (and individuals) identify their desired reputation. Your...

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