Attorney Financial Advisor Licensing
Massachusetts Law Firm becomes Licensed to sell securities
FOR IMMEDIATE RELEASE
Massachusetts Law Firm becomes Licensed to Sell Securities
November 18, 2002
Atlantic Financial enables Bowditch and Dewey subsidiary to Offer
Clients Securities and Investment Services; Opens a New Door to how
Investors Receive Advice and Service
WESTBOROUGH, Mass. November 18, 2002
An important part of the consolidation trend for investment, legal
and accounting services, Atlantic Financial and Bowditch and Dewey
today announced the creation of B&D Advisors, a subsidiary of the
law firm that is licensed to sell securities.
heralds a new way the law firm can serve their clients and investors
can manage their portfolios.
"There is a huge and clear demand for one-stop service by investors
and movement toward consolidation of services by law firms," says
Bruce Fenton, president of Atlantic Financial and the originator of
Individuals and corporations can now pair
investment and legal work under one roof: their law firm.
Clients are able to have 401ks, IRAs, stocks, bonds, CDs, College
Savings Plans, Trusts and over 14,000 mutual funds serviced by an
affiliate of their law firm.
Atlantic Financial forecasts that investors across America will soon
call on their law firms for detailed advice and transactions in
mutual funds, retirement plans and other investments.
"Today's investment and legal world is complex.
investors need this high-level of expertise; meanwhile, law firms
are seeking new ways to serve clients.
will get both legal and investment assistance from their law firm as
standard practice," says Fenton.
No stranger to trends, Fenton
founded Atlantic Financial, the Internet's first full service
investment firm back in 1994 and was a leader in managed accounts in
the early 1990s.
"There is no question in my mind that this is
one of the biggest developments in the legal world and the financial
services sector in many years."
While some lawyers act as Registered Investment Advisors, B&D
Advisors is also licensed by the NASD to sell securities and
registered as an RIA.
The representatives of the firm are not
simply "middle men" but actually Series 7 licensed financial
"Without being licensed, law firms giving investment
advice are limited in their offerings and still must send clients to
a licensed investment firm to execute transactions,"
Attorney Sammy Azzouz, a manager in Atlantic's law firm program.
"With this registration, firms can serve both corporations and
individuals and offer far more than any other law firm subsidiary."
Attorney Dennis Surprenant,
a former Regional Enforcement
Director of the Securities and Exchange Commission (SEC) says,
"There is a major trend for attorneys to be able to offer investment
services as well as tax and legal advice."
discussions with several other law firms, Atlantic Financial
anticipates the new company will be part of a much bigger trend.
"Now that this door is open, it could be a major trend that affects
many law firms and ultimately impacting tens of thousands of
clients," added Surprenant.
"We are happy to be working with Atlantic Financial on this
says Mike Brockelman, 25-year veteran attorney, Head of Bowditch and
Dewey's Trust and Estates Group and senior member of B&D Advisors.
"Although we have decades of experience managing taxes and estates,
we wanted to work with a very cutting-edge firm with highly
specialized expertise in this area for the new program.
Atlantic Financial fits this bill and provides outstanding support
with all facets of marketing and operations."
"We created this program because we saw a clear need from law firms
that wanted to set up a service of this type with the goal of
helping clients and expanding their business.
Dewey is a great fit in terms of size and attitude, a very
established, respected and highly ethical firm, an ideal candidate
to be a pioneer in this area." says Fenton.
About Bowditch and Dewey LLC
Bowditch and Dewey is a Massachusetts law firm that was founded 87
The firm's 70 attorneys currently serve over 6000 corporate and
The firm's trust department currently
manages over $250 million in assets.
About Atlantic Financial Inc.
Atlantic Financial enables law firms to offer investment services by
supporting with everything from licensing the new firm, to
operations, to preparation of financial plans to marketing and
Atlantic Financial was founded in 1994.
The firm has continued its innovative role as a company with a
program to help license and support law firms in this way.