DENVER, Jan. 11, 2011 /PRNewswire/ — Parsonex® Financial Services, a newly formed franchisor, will begin offering retirement planning franchises on a limited basis to select individuals. On Tuesday the firm announced that it plans to open seven franchise locations in 2011 and will be interviewing potential franchisees in Arizona, Colorado, and Texas by the end of January. The firm expects the first franchise location to open in the second quarter.
“We’re extremely excited about what our franchise distribution model will bring to the financial services industry,” said Jonathan Miller, the chief executive of Parsonex Financial Services and its affiliates. “Franchisees will be able to own a business in one of the fastest growing industries: retirement planning.”
IBISWorld has projected that the retirement planning industry will grow 133.7% and named it second on their list of fastest growing industries from 2010 to 2019. According to the National Financial Capability Survey, “While individuals increasingly have to take responsibility for their financial security after retirement, the majority of Americans appear not to have done any retirement planning.”
“We’ve taken what we consider to be best practices of our successful advisors and developed a simple franchise business model,” added Miller, who is also the CEO of Parsonex Securities, a FINRA registered broker/dealer. “Most financial services companies have done a great job of confusing consumers. Families don’t need complicated plans and products for retirement. They need a simple plan they believe in, competitive products they understand, and an advisor they trust. The Parsonex franchise will deliver all three.”
The Parsonex franchise system will offer entrepreneurs a unique opportunity to enter the retirement planning industry. In addition to obtaining the proper regulatory licenses, franchisees will complete an intense training program in which they learn how to develop a client base, run a branch office, and build a sales team.
According to Miller, “We are looking for very capable individuals. Our ideal candidates should have demonstrated a track record of success, even though financial services experience isn’t required. Potential franchisees must be extremely motivated, have excellent communication and leadership skills, be fast learners, and care about doing what’s right for their clients.”
The start-up costs for a Parsonex franchise are between $66,490 and $98,000 according to the company’s Franchise Disclosure Document. Parsonex franchisees will offer mutual funds, variable annuities, 529 plans, term life insurance and living trusts through its affiliates Parsonex Securities and Parsonex Insurance Agency.
Parsonex operations manager Jessica Lankes said: “We’ve worked hard to create an environment that focuses on doing the best job we can for clients and providing the right opportunity for representatives. Our administrative support systems will allow franchisees to focus their time and energy on acquiring new clients and growing their businesses.”
The Parsonex franchise concept has been under development since early 2010.
Parsonex® is a registered trademark of Parsonex Capital Management, Inc..
Parsonex franchises are offered by prospectus only and this should not be construed as an offer to sell any franchises. We will be expanding in numerous states soon. Please contact Jessica Lankes, Administrative Operations Manager, at (303) 468-3400 x.120 for more information..
Securities offered through Parsonex Securities, Inc., Member FINRA/SIPC. 2851 S. Parker Rd. Suite 800, Aurora, CO 80014, (303) 468-3400. Parsonex Securities, Inc. and Parsonex Financial Services, Inc. are affiliated companies but separately owned and operated.
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