LYNNFIELD, Mass., Sept. 6, 2011 (GLOBE NEWSWIRE) -- Investors Capital Corporation (ICC), the premier independent broker/dealer of Investors Capital Holdings, Ltd. (NYSE Amex:ICH), is proud to announce that it has been voted Broker/Dealer of the Year, Division III, by Investment Advisor magazine. Investors Capital garnered the highest ratings in online surveys submitted by its financial advisors to win the honor in its division—broker/dealers between 500 to 999 producing advisors in size. This is Investors Capital's third Broker/Dealer of the Year award, its previous two triumphs coming in 2000 and 2001.
Advisors rated their broker/dealers on a scale of 1 (best) to 5 (worst) in 15 different categories, including an overall rating. The categories included compliance, due diligence, back-office support, training, marketing support, trading, clearing services, product list, management, payout, timely payment of commissions, technology support, communication with the home office, and fee programs. The broker/dealer that received the highest average rating from its voting financial advisors won Broker/Dealer of the Year in its division. Voting took place at AdvisorOne.com from June 1, 2011 through July 1, 2011. This is Investment Advisor magazine's twenty-first year conducting the awards.
"Investors Capital scored favorably in most categories, but particularly well in timely payment of commissions, compliance, and back-office support," said Robert Foney, Investors Capital's Chief Marketing Officer. "Those categories well define our business model and value proposition. We're going to pay your commissions on time every week, help you grow your business safely, and provide you with 5-star service every day."
Investors Capital recently completed a secondary public offering in which Chairman of the Board and founder Ted Charles sold his shares to ICC advisors, clients, and home office staff and retired from the company. This uniquely positioned Investors Capital as the industry's sole publicly traded independent broker/dealer beneficially owned predominantly by its advisors, clients, and home office staff.
Mr. Charles leaves behind a strong company in a growing market. The independent broker/dealer industry is averaging growth of 11% per year. Investors Capital is growing at a slightly better 10-year average annual rate of 12%. The firm has a strong nationwide network of over 500 advisors with an average annual production of $161,680 — the highest level in its 19-year history. Average annual production has almost doubled over the past 5 years from nearly $85,000 in 2006, and increased more than six-fold from $25,000 in 2001. The firm's recurring revenue is at 30% of total revenue and growing. In the last fiscal year, revenue increased each quarter with total annual revenue rising 7.7% to $85.25 million.
"Winning broker/dealer of the year is a very special way for us to begin our new journey as a rep-owned, client-owned, staff-owned broker/dealer," said Timothy B. Murphy, President and CEO of Investors Capital Corporation. "We are a unique firm in that regard and winning this prestigious award makes Investors Capital an even more appropriate, ideal destination for advisors seeking to control their own destinies, receive 5-star service every day, and experience what true independence is really like."
For more information on Broker/Dealer of the Year, visit advisorone.com/investment-advisor.
About Investors Capital Holdings, Ltd.:
Investors Capital Holdings, Ltd. (NYSE Amex:ICH) of Lynnfield, Massachusetts is a diversified financial services holding company that operates primarily through its independent broker/dealer and investment advisor subsidiary, Investors Capital Corporation (ICC). Our mission is to provide premier, 5-star service and support to our valued registered representatives, including advisory programs, strategic practice management and marketing services, and focused technology, to help them grow their businesses and exceed their clients' expectations. Business units include Investors Capital Corporation, ICC Insurance Agency, Inc., and Investors Capital Holdings Securities Corporation. For more information, please call (800) 949-1422 x4814 or visit www.investorscapital.com.