NEW YORK, Nov. 18, 1998 (PRIMEZONE) -- horsesmouth, LLC today announced that BT Alex.Brown Incorporated will provide horsesmouth's subscription Internet service to all its approximately 450 investment representatives (IRs) who serve individual investors.
horsesmouth (at www.horsesmouth.com) is the first and only broker support channel, providing an Internet-based source of information, analysis, training and marketing know-how to securities professionals who serve individual investors. The site contains practical business-building ideas, high quality research, and news and features of interest to brokers. Contributors include Forbes magazine columnist George Gilder and widely quoted economist Ed Hyman, as well as experts covering a broad range of industries. horsesmouth is available only to registered securities personnel, and is devoted to helping brokers identify, serve and retain clients in the most professional manner possible.
"I am pleased that a firm that places broker support as high on its agenda as BT Alex. Brown has chosen to use our service, which is unique in its ability to align the interests of the broker, the firm and the investor," said William T. Nicklin, co-founder and managing director of horsesmouth. "Over the past year -- in telephone interviews conducted by Bankers Trust, BT Alex. Brown and two independent consultants -- more than 90% of a broker test group at BT Alex.Brown rated horsesmouth positively. About 80% said using the service saved them time. The most popular content was the material on business development."
Senior executives at BT Alex.Brown said that horsesmouth will help carry forward the firm's extensive commitment to broker training.
"BT Alex.Brown is committed to helping our sales force become more comfortable and better armed to address the opportunities created by the merger of Bankers Trust and Alex.Brown," said Thomas Schweizer Jr., Vice Chairman of BT Alex.Brown Incorporated and co-head of its Private Client Division Management.
"To accomplish this, we are building a platform that helps our sales force differentiate itself by using strategies that best address each client's situation," he added. "This platform rests on a commitment to training and education that helps our IRs fully leverage the capabilities of the firm. After months of study by our beta group and outside consultants, we are making horsesmouth an integral part of our training platform and our commitment to give BT Alex. Brown brokers an advantage in the marketplace."
Donald Froude, Senior Vice President and co-head of Private Client Division Management, noted: "Alex.Brown built the most productive retail sales force in the industry by hiring the best people and supporting them. We know there is no better way to care for brokers and customers than through a commitment to building knowledge and skills. Since the merger with Bankers Trust we have become a larger organization with even greater opportunities for our brokers. We selected horsesmouth as a new resource for our brokers because we are committed to giving them the support they need to take full advantage of the vast array of opportunities in front of us."
With roots going back to 1800, Baltimore-based BT Alex.Brown Incorporated is America's oldest name in investment banking. It has 19 domestic and three foreign offices, and in 1997 became part of Bankers Trust Corporation.
horsesmouth, based in New York City, was founded by William T. Nicklin, a former analyst with the world's leading information technology research and advisory firm, and his father, veteran broker and branch manager William F. Nicklin.
"We created horsesmouth to help brokers get clients and keep clients," said the senior Nicklin. "With all the attention given to the growth of online trading, everyone seems to overlook the fact that stockbrokers are in terrific demand both by investors who want advice and counsel, and by brokerage firms who recognize the value of superior investment professionals. We believe that knowledgeable brokers will have even a greater role in personal finance in the future, and we're using the latest technology to help them succeed."
Nicklin said that BT Alex.Brown's research on the effectiveness of horsesmouth corroborates his view of its value.
"In my experience as a branch manager, I've learned that brokers place a very high value on support," Nicklin said. "BT Alex.Brown learned that brokers rank horsesmouth highly because it supports them in saving time and in giving them independent analysis and ideas that, as one broker put it, 'makes me look good.' It's gratifying to have independent experts confirm our belief in the service."
In addition to offering a wide range of analysis from many of the nation's top independent researchers, horsesmouth also offers "best of the Net" information sources including TheStreet.com, Market Guide, Zacks Investment Research and IPO Monitor.com.
Nicklin added that brokers may become horsesmouth members individually or as part of a firmwide program. Individual memberships are available at $99 a month.