Texas Adviser Adds Assets despite Hectic Environment

By Stock, Howard | American Banker, March 5, 2009 | Go to article overview

Texas Adviser Adds Assets despite Hectic Environment


Stock, Howard, American Banker


Byline: Howard Stock

Many advisers are in flux these days, and Brian Surovik at Lone Star Bank and Trust in College Station, Texas, knows how that feels.

Despite mergers, conversions and a bank collapse, his production has grown 300% in the past two years - triple the industry average.

He prefers to keep his exact production numbers to himself, but Surovik says he is currently the fifth-ranked consultant for Investment Professionals Inc.

At Lone Star, a subsidiary of Thomasville Bancshares Inc. in Georgia, he works mostly with 300 to 500 high-net-worth households.

Surovik, 33, signed on with Edward D. Jones & Co. LP in late 2000 and built an office from scratch. In 2004 he and his partner, Doug Hicks, moved to State Bank, which was much closer to where they lived.

The move from brokerage to bank was not much of a culture shock, Surovik said, because he and Hicks had already been focused on financial planning and diversification at a time when the trend was to sell hot stocks to eager buyers. After the tech bubble burst, 80% of their clients followed them to State Bank.

Despite adverse markets, State Bank did so well it caught the eye of a Prosperity Bancshares Inc. in Houston, which bought State Bank's parent in 2007. One problem: State Bank owned its own broker-dealer, while Prosperity worked with Investment Professionals Inc.

In May 2007, Surovik and Hicks were recruited by IPI to join a Franklin Bank branch across the street from Prosperity's. But even though Franklin signed on with IPI, it also bought First National Bank of Bryan, a client of ING Group NV's Primevest Financial Securities, in June 2007.

He spent those months calling clients to calm them and persuade them to transfer their accounts. He also spent time talking to Primevest to make sure clients who wanted to stay with Franklin could do so easily.

As if taking on a new job and a conversion from one third-party marketer to another - a nightmare of client hand-holding and administration - were not enough, Surovik and Hicks were in the market for a sales assistant. That job involves "a lot of long hours and hard work," Surovik said.

When the conversion was completed, he felt he could get going - he liked IPI, was happy with its management and had persuaded almost all his clients to make the leap to Franklin. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Texas Adviser Adds Assets despite Hectic Environment
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.