The fall of some of the largest, most respected names on Wall Street has left many financial industry workers without jobs, consumers feeling betrayed, Congress scrambling for a plan, and entrepreneurs wondering where their next infusions of cash might come from. While the country’s economic woes appear vast, the three “r”s of the recovery might boil down to job recruiting, money raising, and the future of financial regulation.
National Holdings is weathering the financial storm and locating great talent while doing so. Founded sixty years ago, National Holdings’ group of companies manages over seven hundred registered reps in approximately one hundred offices throughout the U.S. and abroad. National also provides CNBC’s daily “Fair Value Report,” and offers access to over fourteen thousand mutual funds, independent money manager accounts, best of breed hedge fund managers, private equity and venture capital funds, and real estate limited partnerships.
Mr. Goldwasser believes that the independent brokerage model could eventually come to rival the dominance of investment banks and major brokerage houses.
“Most independent broker-dealers are small enough to give clients the individualized attention that they deserve, but have the resources necessary to provide products and services competitive with the very largest firms,” Mr. Goldwasser explains. “In return for covering their own direct operating overhead, these independent contractors receive a higher payout. At the end of the day, rather than the prestige that comes from having a large financial institution handling their account, what clients really want is someone that is honest and will help them invest wisely with full transparency.”Raising Money
Mr. Sokolow, who is also a co-founder of vFinance Investments, Inc., a principal operating subsidiary of National Holdings that provides brokerage, trading, and investment banking services, suggests some practical advise for burgeoning entrepreneurs facing a challenging economic climate, including: considering what sectors are thriving at present and asking oneself if one’s business venture captures the spirit of the times; holding an initial round of friend and family financing; investigating the Small Business Administration’s (SBA) loan program; accessing federal funding opportunities that are beginning to proliferate; creating a detailed, well-defined, and realistic business plan with a strong advisory board/board of directors; and utilizing free resources, including www.vFinance.com, recognized as one of the primary online connection points between serious-minded entrepreneurs and the capital industry.
“Regardless of the challenges in the economic environment,” says Mr. Sokolow, “with a good idea, dogged determination, the right resources, and qualified advisors, it is always the time to thrive.”Regulation
Mr. Goldwasser also believes that the independent broker model is particularly well-suited for the coming paradigm shift. “Generally, larger institutions find it more difficult to institute sweeping changes,” says Mr. Goldwasser. “The bigger the organization, the thicker the bureaucracy and the more ingrained the culture of the institution. Independent professionals, with smaller offices, can be more nimble and adopt best practices and enhanced processes, which will serve them now and in the future.”
For those covering financial news, National Holdings Corporation makes available Mark “Goldie” Goldwasser and Leonard J. Sokolow to discuss a variety of topics including:• What can we expect from the future of investment banking?
• What opportunities exist in the current marketplace for investors?Expert Biography – Mark Goldwasser, CEO of National Holdings Corporation
Leonard J. Sokolow was the co-founder, Chairman of the Board of Directors and CEO of vFinance. “Lenny” as he is known in the industry is on the Board of Directors and Chairman of the Audit Committee for Consolidated Water Company Ltd. (NasdaqGS: CWCO). Lenny was also Founder, Chairman and Chief Executive Officer of the Americas Growth Fund, Inc., a closed-end 1940 Act investment management company, from 1994 to 1998 (NASDAQ: AGRO). From 1988 until 1993 he was a senior executive of Applica, Inc., formerly Windmere Corporation (NYSE: APN) serving as EVP and General Counsel in his last position. From 1982 until 1988, he practiced in corporate, securities and tax law and was one of the founding attorneys and a partner of an international boutique law firm. From 1980 until 1982 he worked for Ernst & Young and KPMG Peat Marwick. Lenny received his B.A. degree in Economics from the University of Florida in 1977, a J.D. degree from University of Florida Levin College of Law in 1980 and an LL.M. degree in Taxation from the New York University Graduate School of Law in 1982. Lenny is also a Certified Public Accountant. Lenny has shown vision as a business leader and an entrepreneur to create businesses and business opportunities by leveraging his vast business and professional experience in the global markets.
With their extensive experience in international financial markets, “Goldie” and “Lenny” have the balance and vision necessary to lead National Holdings Corporation. Additionally, National has an in-depth team of key management that consists of well-experienced executives and expert department heads to compliment and execute its vision.About National Holdings Corporation
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