Ian B. Davidson

Registered Rep: Cheers! It is your 50th year with Davidson Companies. How have advisors changed in that time? Ian Davidson: The entire investment business has changed. We have more investment advisors, they are more professional and it is more competitive. RR: Your biggest career achievement? ID: Being elected Chairman of the NASD in 1995 at a time when the securities marketplace was in turmoil. Corporate

Registered Rep: Cheers! It is your 50th year with Davidson Companies. How have advisors changed in that time?

Ian Davidson: The entire investment business has changed. We have more investment advisors, they are more professional and it is more competitive.

RR: Your biggest career achievement?

ID: Being elected Chairman of the NASD in 1995 — at a time when the securities marketplace was in turmoil. Corporate governance of the NASD changed dramatically.

RR: One obstacle you overcame on the path to success?

ID: Convincing securities firms and brokers that a successful financial services firm can be headquartered in Great Falls, Montana. Now, being here is a great asset: lower cost, better service and lower turnover.

RR: One change you would make to the business?

ID:I would eliminate upfront payments to broker recruits; a positive, competitive corporate culture would be the biggest recruiting draw.

RR: Your greatest vacation?

ID:My wife and I flew around the world, and visited 12 or more unusual locations in 27 days.

RR: Advice for young advisors?

ID: Understand balance sheets and income statements; team up with a seasoned broker to learn the business.

RR: Innovation that has changed the face of the retail business?

ID: Technology has brought packaged financial products and strategies rather than basic stocks and bonds. I prefer the latter.

RR: Scariest run-in with the local wildlife?

ID: Wildlife is a joy in Montana. Unfortunately, hitting a deer and a packhorse on the roadway (on separate occasions) were scary and sad experiences.

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