Small Firms Information

2012 SFAB Candidate Profiles – West Region

 

Adam M. Carmel

President

Larimer Capital Corporation


Biography

Education: Brown University—B.A. Economics (1975); University Of Chicago—M.B.A. International Business (1977); College Of Financial Planning—CFP (1981)

 

Business Career—Gulf Oil Corporation—Corporate Strategic Planning and International Crude Oil Trading (1977-1981); Larimer Capital Corporation—independent financial planning FINRA member B/D and SEC registered RIA (1986-present)

 

Securities Registrations—Series 4,7,24, 27,53 and 63

 

Industry-Related Board Positions and Activities—FINRA District #3 Committee Member (2009-2011); FINRA Hearing Panelist

Statement

I have previously served on FINRA's District #3 Committee which was one of the most rewarding experiences of my +30 year industry career. More than anything else, I have come to appeciate the diverse range of valuable services offered by all of our member firms. Small firms fulfill the broadest missions of our industry—public and private sector capital formation, personal wealth creation and preservation—within a regulatory structure ideally focused on education, transparency, integrity and fairness for all members. These are core industry values that small firms should want to rotect through sensible regulations. Rulemaking is a complex process that should balance all costs and benefits with a long term perspective. I promise an open-mindedness to first hear and then communicate the issues and concerns of any small member firm to the SFAB so that their importance is recognized by FINRA staff and thereby the FINRA Board. Thank you in advance for your support of my candidacy.

 


 

Howard A. Morin

CEO

Conover Securities Corporation

Biography

Howard Morin joined Conover Capital Management in 2011. Howard has 17 years of financial services experience and began his career consulting to some of the largest brokerage firms in South Florida. Previously, he managed the institutional trader business at The TradeStation Group and collaborated on development and deployment of many highly sophisticated trading strategies. His success was recognized by Intel Corporation who relocated him to the Pacific Northwest where he was named Managing Director of Global Financial Services. At Intel, Howard was responsible for implementing technology at some of the largest financial institutions in the world. After seven years at Intel he returned to Wall Street, joining Union Bank of Switzerland (UBS) as a private financial advisor. Howard was appointed CEO of Conover Securities in October of 2011.

Statement

I'm running for a FINRA Small Firm Advisory Board seat because I feel that I have the experience in financial services required and a fresh perspective on how upcoming issues and technology can and will affect small broker dealers.

 


 

Timothy U. Morton

Managing Director

WBB Securities LLC

Biography

I am the Managing Director of WBB Securities LLC, a full service broker/dealer and Registered Investment Advisory firm with retail/institutional independent advisors, an insurance agency operation, a full service trading desk, top ranked research analysts and an investment banking division. Our firm is considered a Main Street small firm, but we also work with the largest of Wall Street banks. WBB hosts top ranked analysts who provide award-winning research to notable Biotechnology, Medical Device and Pharmaceutical companies.

 

Currently I serve on the FINRA District 2 Committee and also sit on the Board for the National Association of Independent Broker/Dealers (NAIBD). After the NASD and NYSE merger, I was a small firm advocate in the consolidation process of the two Rulebooks. I served on the FINRA Small Firms Rules Impact Task Force specifically focused on the ultimate impact of rules on small firms. Also, as a member of several hearing panels, I have been committed to fair and reasonable sanctions appropriate to violations and have acted firmly on those who have intentionally harmed their clients and by definition, the industry.

 

Prior to joining WBB, I was CEO of JMC Financial Services and JMC Insurance Services, a broker/dealer and insurance agency that served large, regional and community Banks. I began my career with Private Ledger (now LPL) in 1982. I hold Series 7, 24, 51, 63, 79 & 99 licenses and am insurance licensed for life, health and LTC.

Statement

In today's trying economy, running a small business as diversified as ours is a challenge and I understand the stresses we all operate under and the risks that are ever present in our minds.  

 

The Small Firm Advisory Board serves a critical role in ensuring issues of interest and concern are effectively communicated and considered by the FINRA Board of Governors. I believe my experience and team approach will help FINRA to better protect the investing public with a practical and efficient attitude to regulation. Further, I want FINRA to understand and firmly believe, as I do, that small firms operate with the highest of ethical standards and manage under a strong culture of compliance. 

 

Serving on the FINRA District 2 Committee and working with other committee members around the country, we are trying to change the way new rules are initiated. When there is a perceived concern by FINRA, then FINRA should seek immediate guidance from the membership for insight and discussion of possible corrective actions within existing rules and guidelines. We believe that once new rules are drafted and out for comment, the momentum and energy behind the rule is tough to modify and often the cost of complying with a proposed rule may not have been fully vetted against intended benefits.

 

In short, I will be a strong small firm voice to continue to support these issues and more, with increased transparency by FINRA.

 

I ask for your vote and welcome your calls and E-mails.

 

Video: http://youtu.be/v62v3HTnkcI