Blue Vase Securities joins Financial Network

December 9, 2005 El Segundo, CA Share: Print Subscribe to Email Alerts

The management of Pittsburgh, Pennsylvania-based broker-dealer Blue Vase Securities LLC, decided they wanted to focus on growing their business and develop their registered representatives rather than spending an increasing amount of time on regulatory and infrastructure issues. As a result, the broker-dealer joined Financial Network Investment Corporation as a new region earlier this month. Blue Vase will now be a region under the name Blue Vase Financial Network. Financial Network is an ING company with approximately 3,000 financial professionals.

“This is the best of both worlds for us,” said Mike McCormick, regional director for Blue Vase Financial Network. “We get to see our business continue to grow and develop, and we get top-notch back-office support from a broker-dealer that shares our values of teamwork, strong compliance and great technology.”

McCormick added, “Equally as important, our financial professionals can tap into the recognized brand and resources of a global financial services company, ING. That means that they have a bigger, more-diverse product and service offering available for their customers.”

According to Jack Handy, president and CEO of Financial Network, the deal with Blue Vase represents a trend in the independent broker-dealer industry. “We’ve been having more discussions with smaller broker-dealers who want to explore their options. We’re usually talking to entrepreneurs who aren’t ready to leave the business, yet realize that changes in the industry have caused them to spend more of their time on compliance and internal issues. They want to get back to doing what they got into the business to do, which is helping financial professionals, and ultimately, their individual customers.”

Handy continued, “We think that Blue Vase is a great fit with Financial Network. We’re glad they recognized and valued the ING brand and the services we can offer their reps as part of a larger organization.”

As Blue Vase’s broker-dealer, Financial Network will provide technology, infrastructure and compliance support, along with a broad product offering, strong financial advisory platforms, advanced markets and other specialty consulting. Access to proprietary services, such as ING Trust USA and ING DIRECT will also be available. Blue Vase management will continue to provide marketing support, business and personal development, and value-added services for registered representatives in its region.

Press inquiries

Phil Margolis, 860-723-4783, phil.margolis@us.ing.com

About Financial Network

Financial Network Investment Corporation, member SIPC, has an exclusive model that creates a dynamic environment of teamwork through the local service of its regional offices, the national support of its home office and the global scope of its parent company, ING. With this unique structure, Financial Network is able to build and support extraordinary regional teams, making it easier for its 3,000 financial professionals located across the U.S and Puerto Rico to succeed. In addition to its independent representative offices, Financial Network provides third-party marketing services to banks and credit unions through its Financial Institutions Division. For more information, visit www.financialnetwork.com.

About ING

ING is a global financial institution of Dutch origin offering banking, insurance and asset
management to over 60 million private, corporate and institutional clients in more than 50 countries.

With a diverse workforce of over 113,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.

In the U.S., the ING family of companies offer a comprehensive array of financial services to retail and institutional clients which include life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves over 14 million customers across the nation. For more information, visit www.ing.com.