Let’s Be Frank: The Story of a Leading Alabama Broker-Dealer and RIA

Let’s Be Frank: The Story of a Leading Alabama Broker-Dealer and RIA

Let’s Be Frank: The Story of a Leading Alabama Broker-Dealer and RIA


1. What brought you to the investment space? Tell us a little bit about your background before NBC. 

After graduating from the University of Miami and two years of active service, I returned with my family to my hometown of Birmingham, AL in 1964. Throughout college I had a keen interest in financial markets and was looking for the best way to provide for my family. A manager from the brokerage firm, Andresen, afforded me an opportunity to receive $2,000 a month for six months while studying for my Series 7. After passing my exam, I have been a straight commissioned salesman ever since the spring of 1965. Though ups and downs throughout my nearly 60-year career, I have loved every moment of it and cherished all the relationships built. 

In 1969, Andresen folded and I along with two other brokers opened the first Alabama office for A.G. Edwards. The 1970s were a tough time for the equity markets and through my father’s relationships with the State House of Representatives, I began to work underwriting municipal bond issues. 

Following a decade or so at A.G. Edwards, I began working with a local shop, Sterne, Agee and Leach in 1981. This was a pivotal moment in my career as I started using third-party asset managers to assist with my business. Since then, separately managed accounts (SMAs) have allowed me to provide my clients with an unparalleled experience and attractive returns from professional money managers. This foundation has helped me build a wonderful career and was a large reason for starting NBC Securities.

 

2. What was your founding vision/story for the company? How has the firm changed since then? 

I have been very fortunate to develop some wonderful friendships throughout my career. One friendship, in particular, was the reason for me coming to start NBC Securities. Originally, NBCS was founded as a wholly owned subsidiary of National Bank of Commerce (NBC) to run managed money. 

A high level of service and professionally managed portfolios was the founding vision.

Over the years NBCS has transformed from a self-clearing wholly owned subsidiary into a fully independent, leading dually registered Broker Dealer & RIA with an integrated institutional platform program and a wonderful clearing partner, RBC Clearing and Custody. 

 

3. Since 1995, what have been the key milestones of the firm? 

Currently, we serve around 88 financial professionals in 13 states with approximately 5 billion in AUA. 

We started out as a one-man shop. A month later we were fortunate to have 20+ bond salesmen join our team. We grew with the bank and in 2008, the bank and NBCS was sold to Royal Bank of Canada (RBC). Two years later, my partner and I bought ourselves back from RBC with the arrangement to use their clearing services. It has been a wonderful partnership. We had a big growth spurt in 2015 with the addition of 20+ advisors from a firm in Tampa, Florida. In 2020, I bought out my partners and now own NBCS with my son, Peyton.

Dreams are important.
Aspirations are what help make goals reality.

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