No. 91 - Rochester Top 100

Wall Street Financial Group

About Wall Street Financial Group: Financial planning services.

Rank on Top 100: 91

Top Executive: Michael D. Bewley

Employees: 214

Website: www.wsfg.com

We asked Michael D. Bewley, vice chairman and CEO, to talk about his business.

Question: Tell me briefly about Wall Street Financial Group, Inc.
Everts: Independent Broker Dealer.

Question: How has your company sustained continual growth?
Everts: The financial services industry is a constantly changing environment. We've been able to utilize technology and a fantastic staff to balance the needs of our Registered Representatives with the requirements of our regulatory bodies (NASD & SEC).

Question: What differentiates Wall Street Financial Group from its competitors?
Everts: We feel it's the high level of service that we are able to offer to our Reps. I can't stress what a benefit it is to have a great staff. There are so many things in our industry that are commodities. The one thing we can't put a price on are the solid relationships that we build with our representatives. Our size allows us to concentrate on the specific needs of our rep. base. We have a very open dialog with our reps., and that's something not a lot of our competitors have.

Question: What does it mean to your business to be recognized by the Rochester Business Alliance as one of Rochester's Top 100 Companies?
Everts: We are very proud to be recognized amongst some of the top firms in the area. It is very uplifting to know that we have been a part of this list for several years.

Question: What additional services can the Rochester Business Alliance provide to help your business?
Everts: I think there are some great opportunities in this community for some round table discussion groups. There are plenty of panel type discussions/forums that take place, but we would like to see some more interactive smaller group sessions. Let's create an environment to exchange ideas on how we can all run more efficient businesses. You can never do enough networking.

Question: What signs of optimism do you see in the local economy?
Everts: I think the residential development that is taking place downtown is crucial to the economy. Whether it's a new build of townhouses/condos or the conversion of these old building into loft space, the key is getting people more involved downtown. There are some great ideas on the drawing board with regards to downtown development; however, without the residential component it will be tough to truly realize the full potential.

Question: What are the biggest opportunities you see ahead, as well as the biggest challenges?
Everts: There are tremendous opportunities ahead. We have recently rolled out some great new technology to our Representatives giving them some excellent efficiencies with their practices. We see this as a stepping stone for growth. There has been a lot of consolidation in this industry in the past few years. Many independent Representatives want to have the personal touch that comes with a small, independently owned firm versus the challenges they face when working for an insurance company or bank owned broker dealer. As far as challenges go, the regulatory environment is our biggest and most constant challenge.