2012 Board of Directors
Joseph (Joe) R. Russo, Chair
Joe has over 30 years of experience in financial services. He began his securities career as a registered representative at United Financial Services and then with Merrill Lynch. Joe founded Perpetual Investment Advisors and served as CEO until a sale to AEGON, USA Securities. Subsequently, he founded Advantage Financial Group (AFG). AFG is affiliated with National Planning Corporation and is the company’s premier OSJ managing over $2 billion of client assets with a total of 54 branch offices.
Joe maintains his investment advisory practice in Cedar Rapids, IA and his securities brokerage business in Naples, Fla. while serving as chairman and CEO of AFG. He is licensed as a General Securities Principal, Municipal Bond Principal, Options Principal and Registered Investment Advisor Representative.
William (Bill) E. Dwyer III, Immediate Past Chair
For more than 17 years, Bill has supported LPL Financial advisors’ business success and their contributions to the firm’s significant growth culminating in becoming the largest independent broker-dealer* with over 12,000 independent financial advisors.
Prior to joining LPL Financial in 1992, Bill spent eight years as an investment representative at various firms. He currently serves on the Private Client Services Executive Committee as well as on the board of directors of the Securities Industry and Financial Markets Association and the Financial Services Institute, Inc. He holds a Bachelor of Arts from Boston College and is Series 3, 7, 24, and 63 registered.
*As reported in Financial Planning magazine, 1996-2009, based on total revenues.
R. Lawrence (Larry) Roth, Vice Chair
Larry serves as President and CEO of Advisor Group, one of the largest networks of independent broker-dealers in the US, and is currently serving as President and CEO of FSC Securities Corporation. Roth is responsible for the management of more than 600 employees, who serve the needs of nearly 4,800 independent financial advisors affiliated with FSC Securities Corporation, Royal Alliance Associates and SagePoint Financial. As President and CEO of Advisor Group, Roth has been responsible for defining the strategy and driving the growth and innovation that has positioned Advisor Group as the premier open-architecture firm in the independent advisor channel.
Roth has over 30 years of experience in the financial services industry with expertise in securities, investment banking, brokerage and management.
Adam Antoniades
As Chief Executive Officer of First Allied, Mr. Antoniades is instrumental in driving the strategic direction of the firm. As one of First Allied’s founding members, he also spearheaded several strategic acquisitions including the 2002 sale of First Allied to Wells Fargo. In 2004, Mr. Antoniades shifted his leadership focus to successfully develop Advanced Equities Financial Corp.'s (AEFC) independent brokerage channel. In February of 2005, he drove the acquisition of First Allied by AEFC.
Most recently, he led the organization through a private-equity backed management buyout of the company from AEFC.
Prior to First Allied, Mr. Antoniades held senior management positions at major financial institutions around the globe including Berkeley Administration Inc. in Brussels, Belgium, and A. J. Bekhor and Company in the United Kingdom.
Valerie G. Brown, Chair, FSI PAC
Valerie is the chief executive officer of Cetera Financial Group (Cetera) and its three independently managed broker-dealer firms. Working closely with the Cetera executive team, Valerie leads the strategy execution for company-wide initiatives that enhance value to all customers, employees, shareholders and business partners. Prior to her current duties with Cetera, Valerie was chief executive officer of ING Advisors Network, a role in which she was responsible for guiding its four broker-dealers. Her tenure was highlighted by five years of record revenue and earnings. Previous positions included service as president of ING U.S. Retail Annuities and key international appointments within the ING organization, among them, serving as chief of staff for ING Group’s Executive Committees, Americas and Asia/Pacific.
Rick Carlson
Rick Carlson has more than 22 years of experience in the financial services industry. He started Carlson Advisors in 2003 to offer his clients high-quality, personalized financial advice. Prior to starting Carlson Advisors, Rick was a financial advisor for Robert W. Baird as well as Prudential Securities. Rick also worked for GE Capital for eight years before becoming a financial advisor. During his tenure at GE Capital, Rick held several executive-level positions in the areas of risk management and corporate underwriting.
Rick and his team at Carlson Advisors are focused on delivering quality, customized investment strategies to their small-town, Main Street client base. They believe strongly that time-tested, conservative investment strategies will continue to serve their clients well in all market environments, and work hard to make sure that small-town Americans achieve the financial freedom they all want and deserve.
Rick is involved in the Tomah community. He is a past President, Treasurer and Economic Development co-chair for the Tomah Chamber of Commerce. In addition, Rick currently serves on the city of Tomah’s Long Range Planning Committee.
Rick graduated from Southern Methodist University in 1987 with degrees in Finance and Economics, and earned his MBA degree from Columbia University in 1994.
Dean Harman
Dean Harman, CFP® has been practicing in the financial services industry since 1994. He operates Harman Wealth Management, Inc. LLC. in The Woodlands, Texas. Harman Wealth Management Inc. LLC. specializes in working with clients who are business owners, executives and sports coaches.
In 2006 Dean purchased Estate Resources, a financial planning, RIA and asset management firm in Houston, Texas, which he merged into Harman Wealth Management Inc. LLC. In 2010 he purchased ETF Plan, Inc., and asset management, RIA firm which also merged into Harman Wealth Management Inc. LLC. He serves on the Advisory Board’s of Genworth Financial , Sagepoint Financial, The Financial Services Institute and The College of Business and Behavioral Sciences at Clemson University .
Dean is regularly quoted in the media and has been featured in: The Wall Street Journal, the New York Times, Newsweek, Kiplinger’s, Smart Money, CBS Market Watch, Men’s Health, Yahoo Finance, Google Financial News, Retire Smart, The Players Club, The Journal of Financial Planning, Investment News, Investment Advisor, H-Texas and local media. He also had an appearance in the movie Tin Cup.
He is a graduate of Clemson University where he played football from 1987-1991. Following college he had a brief stint with the Tampa Bay Buccaneers in 1992 and 1993 before starting his career in financial planning.
Jim Herrington
Jim is chairman of the Financial Services Network (FSN). FSN has 175 full-time independent contractor financial representatives in 45 communities in 16 states. In addition, Herrington is principal and CEO of Strategic Wealth Advisor Group, an SEC-registered investment adviser. He served on the board of directors for Financial Service Corporation (FSC Securities) and the board of trustees for the Foundation for Financial Planning.
Jim Livingston
Jim Livingston is president and chief executive officer of National Planning Holdings, Inc. (NPH), Jackson National Life Insurance Company®’s (Jackson’s) affiliated broker-dealer network comprised of four independent broker-dealers. He is responsible for leading NPH’s senior management team in setting the firm’s strategic direction and overseeing the firm’s sales and marketing function. Mr. Livingston also oversees the JNL Southeast Agency, LLC’s captive agent sales force.
With more than 35 years of experience in the life insurance and financial services industries, Mr. Livingston joined Jackson in 2003 as senior vice president of product management. In 2005, he was promoted to executive vice president of operations for Jackson National Life Distributors LLC and assumed the role of president and CEO of NPH in 2007. Prior to joining Jackson, he held various executive roles at financial services companies, most recently serving as executive vice president, chief financial officer and chief actuary at Union Central Life Insurance Company.
Mr. Livingston is a fellow of the Society of Actuaries and a member of the American Academy of Actuaries. He earned a Bachelor of Science degree in actuarial science from the University of Texas. He is a Chartered Life Underwriter and holds FINRA series 7 and 24 registrations.
John Moloney
E. John Moloney began his career as a registered rep in 1973 with Stifel, Nicolaus & Co., Inc. After joining R. Rowland & Company in 1982, he became an Allied Member of the New York Stock Exchange. While at Rowland, he served on their Board of Directors. As their Senior Vice President for Product Marketing, he oversaw all product departments at the brokerage firm. In 1995 he formed Moloney Securities Co., Inc. and an insurance general agency bearing the same name. In March of 1999, he formed Moloney Securities Asset management, which is a Registered Investment Advisor. He serves on SIFMA’s Small Firms Committee and was its past chairman. In addition, he served as past chairman on the District 4 District Committee for NASD/FINRA, and past chairman of the NASD’s Advisory Council, and served two terms on the Small Firms Advisory Board. He also served on the Securities Industry/Regulatory Council of Continuing Education. Currently he serves on FINRA’s Membership Committee. Mr. Moloney holds a BSBA from Regis University in Denver, Colorado and attended the Graduate School of Business at Washington University in St. Louis, Missouri.
Michael (Mike) J. Mungenast, Chair, Finance Committee
Mike has been CEO and president of ProEquities, Inc., a leading broker-dealer for independent financial advisors, since 2002. In this position, Mike leads a sales force of 1,100 registered representatives who function as independent financial advisors. ProEquities has enjoyed record sales growth and profit growth in each year under Mike’s leadership. He has been with the firm eight years, initially functioning as their COO. Prior to joining ProEquities, Mike held positions as partner and CFO of Dover International, a provider of consulting, training, and outsourcing services to various broker-dealers channels, and at Coopers and Lybrand in their audit and litigation services department. He graduated in 1986 from Auburn University with a BSBA in Accounting and became certified as a CPA in 1988. Mike serves on various industry committees and has recently served as chairman of the 2005 conference for the Financial Services Institute and as chair of CEO Advisory Council in their first year of existence. He also serves the industry as a representative on the FINRA District 5 Committee and is a member of the SIA Independent Firms Committee. He is a member of the Leadership Birmingham Class of 2005, a deacon at Briarwood Presbyterian Church, and on the Birmingham Jr. Achievement Board of Directors. He is happily married to his wife, Dana, and enjoys coaching his children Anna (9) and Joseph (7) in their various sports endeavors.
Timothy (Tim) B. Murphy
Tim is a founder of Investors Capital Holdings, and serves as chief executive officer and president. Tim has served as president of Investors Capital Corporation since August 1994, and president of Investors Capital Advisory since January 1995, both of which are subsidiaries of Investors Capital Holdings.
Tim entered the securities industry in May 1991 as an operation manager, assisting brokers in the Boston regional office of Clayton Securities. From February through August 1994, he was a compliance officer of Baybanks Brokerage in Burlington, Mass., and a vice president at G.R. Stuart & Company, a brokerage firm located in Maynard, Mass.
Tim earned a B.S. in Finance from Babson College. He holds various securities licenses, including Series 4, 7, 24, 27, 53, 63, and 65. Tim is a member of the New England Securities Compliance Group and a past member of the National Society of Compliance Professionals.
Clive Slovin
Clive is president and CEO of The Strategic Financial Alliance, Inc (SFA). Licensed in all 50 states, SFA provides broker-dealer, RIA and insurance-related services to its independent financial advisors and their clients across the country. The firm is co-owned by its management, employees, financial advisors and independent investors. Prior to starting SFA, Clive served as president of Investors Financial Group (IFG) and CFO of Financial Service Corp. (FSC). He began his career as a Chartered Accountant and CPA with the international accounting firm of Deloitte, having worked in their South African and Atlanta, GA offices.
Frank Tauches, Jr.
Frank first entered the securities industry in 1974 as an Enforcement Attorney with the New York Stock Exchange and subsequently spent ten years with Merrill Lynch & Co. as an attorney and branch manager. He formed Independent Financial Securities in 1987. Frank was appointed to the Board of Directors of American Portfolios Holdings, Inc. in 2003 and then served as general counsel and chief operating officer of American Portfolios Financial Services before his appointment as president in 2006. In 2008 he was appointed executive vice president and general counsel of American Portfolios Holdings, Inc. He served as chairman of the Water Authority of Western Nassau County, a public benefit corporation, from 1995 to 2008 and negotiated the takeover of the assets of Jamaica Water Supply Company. Frank also was elected a trustee of the Incorporated Village of Garden City, New York in 1990 and served as Mayor from 1997 to1999. Frank served on active duty for three years as a Captain in the United States Marine Corps. He remained active in the reserves and returned to duty again as a Colonel in conjunction with Operation Desert Shield/Desert Storm. He was elected president of the Marine Corps Reserve Officers Association in 1993 and retired in 2007 with forty-two years total service. Frank holds a Bachelor of Arts degree from Fordham University and a Juris Doctor degree from St. John’s University School of Law. Frank and his wife, Lorraine, have been married for thirty-seven years and reside in Garden City, New York. They have four grown children: Lori, Jason, Kim, and Katie.
Dale E. Brown, CAE - President & CEO - Ex Officio
Dale brings over 20 years of association management experience to FSI, most recently as the associate executive director of FPA. For IAFP, one of FPA’s predecessor organizations, he led the government relations program and the broker-dealer program, which grew to more than 130 member firms by the time FPA was created in January 2000. Dale also led the successful fight in the mid-1990s against the IRS’s attempts to force broker-dealers to reclassify independent contractor representatives as statutory employees. In both IAFP and FPA, Dale played a critical role in the senior management team and brings broad leadership experience to FSI in his role as founding president & CEO.
Larry serves as President and CEO of Advisor Group, one of the largest networks of independent broker-dealers in the US, and is currently serving as President and CEO of FSC Securities Corporation. Roth is responsible for the management of more than 600 employees, who serve the needs of nearly 4,800 independent financial advisors affiliated with FSC Securities Corporation, Royal Alliance Associates and SagePoint Financial. As President and CEO of Advisor Group, Roth has been responsible for defining the strategy and driving the growth and innovation that has positioned Advisor Group as the premier open-architecture firm in the independent advisor channel.