HOLBROOK, N.Y. (Sept. 29, 2020)—American Portfolios Financial Services, Inc. (AP)—a privately-held, independent broker/dealer that services financial advisors nationwide—is the recipient of a 2020 Annual WealthManagement.com Industry Award (Wealthies) in the category of Broker-Dealers (Fewer than 1,000 Advisors) – Service for its Virtual Administrative Services (VAS) practice management solution. On Sept. 10, WealthManagement.com announced the Wealthies winners during a live broadcast from New York. This year, 72 awards were presented to 61 companies from a pool of 155 finalists.
“We are extremely honored to have been acknowledged by this highly-respected industry recognition program—more so because the Service category represents one of the core principles in our strategic roadmap: customer loyalty,” states CEO Lon T. Dolber. “We strive to stay true to our mission to provide optimal customer service and support to our valued family of financial advisors in order to secure the level of independence they have come to know, enjoy and thrive in as business owners.”
“AP works diligently to ensure that our advisor community is equipped with the proper services and support needed to operate to their fullest potential,” adds Chief Administrative Officer Dalchand Laljit. “The strides we have made with VAS, our first subscription-based service model, have greatly benefitted our investment professionals. This award validates our efforts and proves we are providing much-needed, valuable solutions. Our entire VAS team are extremely honored by this noteworthy recognition of their hard work and dedication.”
VAS is a subscription-based, practice management solution available to AP-affiliated financial advisors in need of administrative assistance to help them with time-consuming tasks so they can spend more time cultivating prospects and nurturing existing client relationships. VAS has enabled AP-affiliated practices to operate with greater efficiency and scalability, affording advisors the ability to address new demands on their practices, plans for expansion, special projects and the needs of overworked staff, while not having to worry about the intricacies of human resources management. Since its inception and official launch in the first quarter of 2019, VAS has seen a 75 percent increase in adoption, with demand continuing to increase.
Since being named a finalist in the category of Broker-Dealers (Fewer than 1,000 Advisors) – Service, AP’s VAS has rolled out an add-on option for call service. The new VAS add-on enables AP’s Virtual Administrative Services Specialists to be patched through directly to the clients of affiliated financial advisors in order to handle assistant-level matters, including but not limited to: scheduling appointments; informing vendors or wholesalers of an advisor’s availability; client requests for sending documents already on file; requests for assistance with the firm’s Going Green processes; utilizing client portals; and making minor account updates.
AP congratulates its fellow Wealthies Award recipients, including Parkland Securities, LLC who tied with AP in the Broker-Dealers (Fewer than 1,000 Advisors) – Service category. The firm looks forward to participating as thought leaders in the upcoming, newly-created Wealthies Digital Forums.
About American Portfolios
Headquartered in Holbrook, N.Y., American Portfolios Financial Services, Inc. (APFS) is a full-service, independent broker/dealer and member firm of FINRA and SIPC, offering a complete range of financial services, including personal financial and retirement planning, securities trading, mutual funds, access to investment research, long-term care planning, insurance products and tax-free investing. Fee-based asset management is offered through its sister subsidiary, American Portfolios Advisors, Inc., (APA), an SEC Registered Investment Advisor. Both entities, along with technology entity American Portfolios Advisory Solutions, LLC, collectively reside under the legal entity American Portfolios Holdings, Inc. (APH). Full-service securities brokerage is available through a clearing firm relationship with Pershing, LLC, a BNY Mellon firm, the securities of which are held on a fully disclosed basis. The company currently supports 862 independent investment professionals—inclusive of registered assistants—and more than 375 non-registered associates, located in 405 branch locations throughout the nation. It was named Broker-Dealer of the Year* (Division III) by Investment Advisor magazine for six consecutive years (2015-2020); a 2019 and 2020 WealthManagement.com Industry Award Finalist in multiple categories, and the 2020 winner in the Service category of B/Ds under 1,000 representatives for its Virtual Administrative Services (VAS) program**; one of the Best Companies to Work for in the state of New York for five consecutive years (2016-2020) by the New York State Society for Human Resources Management (NYS-SHRM) and the Best Companies Group (BCG); and one of the Top Long Island Workplaces for 2018 and 2019 by Newsday.
* Based on a poll of registered representatives conducted by Investment Advisor magazine. Broker/dealers rated highest by their representatives are awarded “Broker/Dealer (B/D) of the Year.”
** Wealthmanagement.com Industry Award finalists are selected by a panel of independent judges made up of subject matter experts in the industry. Award is based on support provided to AP’s affiliated people and does not reflect public customers nor their account performance.
About the WealthManagement.com and the Wealth Management.com Industry Awards
WealthManagement.com, an Informa business, provides everything wealth professionals need to know to stay knowledgeable about the industry, build stronger relationships, improve their practice, and grow their business—all from one site. Now in its sixth year, the WealthManagement.com Industry Awards is the only awards program to honor outstanding achievements by companies, organizations and individuals that support financial advisor success. This year, 72 awards were presented to 61 companies from a pool of 155 finalists.