The National Introducing Brokers Association (NIBA) has provided support to the IB community for 30 years. I have been involved and a member of NIBA for 29 years. Melinda approached me to become a charter member upon inception, but I waited until the following year when I joined the team as a broad member. From the time of joining the NIBA it became a game changer for Allendale Inc. The ability to share ideas regarding the hurtles we were facing as an IB with other members was priceless.
The NIBA has provided communication for the IBs with the regulatory bodies such as the CFTC and the NFA. It is extremely important to understand the rules and learn how to comply with them. An IB is not only dealing with clients and trading but meeting compliance issue to stay in business. The business aspect of running an IB is where the NIBA was instrumental in Allendale’s growth and success.
Through the NIBA we were able to meet other IBs and create business relationships that have lasted for years. We at Allendale, realized the industry is relatively a small group and through the NIBA it brought this community together with its conferences. The conferences were scheduled on weekends which made is easier for office owners/managers to get away and share ideas. Today technology has provided communication via video conferencing. The experience with NIBA members sharing ideas has been helpful in our dealing with the hurtles of growing an IB. Today’s business environment offers many reasons to be a member of the NIBA.
Being a long-term member has been a very important part of Allendale’s success. Today seems to offer good reasons to continue our relationship with the NIBA. Regulations are continually changing, business practices are changing rapidly, and we need someone to look out for our interest; the NIBA.
Thank you NIBA for 30 years and wishing success for another 30 more.
Paul J. Georgy
Past Board Member