EF Hutton Launches GATEWAY: First-of-its-Kind, One-Stop-Shop for Independent Providers of Financial Services
March 18 2015 - 10:30AM
Business Wire
Internet Service Connects Consumers with
Financial Experts
EF Hutton Financial, Corp. a subsidiary of EFH Group Inc. (OTC:
HUTN) today launched a national internet initiative at
www.efhutton.com. EF Hutton’s B2C internet service is unique in the
financial services industry because it connects consumers to
qualified independent financial professionals across a wide range
of financial service lines.
The service is free to consumers and provides the convenience of
accessing all services from one single website. Consumers can
choose a provider with confidence knowing that EF Hutton verifies
provider’s qualifications and thereby assures satisfaction – making
efhutton.com the trusted source for all their financial needs. The
services include: retirement, insurance, financial planning, tax,
trusts and estates, real estate, and many other financial services.
Clients can book appointments with providers of their choice
without leaving the website. And EF Hutton provides a reward
program that gives points to clients that use service providers in
EF Hutton’s network. The web-based service model has similarities
to Uber in that EF Hutton receives a portion of service revenues,
and similar to Angie’s List in that it qualifies the service
providers on the network. People know that the EF Hutton brand
stands for the highest-quality financial advice – advice worth
listening to.
Service providers benefit from a source of new clients, because
EF Hutton does the marketing – saving them precious time and money
– a great value for smaller independent providers who lack
resources to attract new clients. It is estimated that it typically
costs more than $250 for financial service providers to acquire a
new client. Financial providers can sign up for free and pay only
for each client introduction. For an added fee, EF Hutton offers
higher service levels with guaranteed introductions to prospective
clients.
According to industry reports, independent financial service
providers face significant challenges due to higher costs resulting
from a lack of scale and a lack of resources for marketing
resulting in high client acquisition costs (“CAC”) and a related
loss of business opportunities. A series of articles in 2014
published in ThinkAdvisor magazine and
written by Michael Kitces, highlighted the dilemma for independent
financial providers. EF Hutton’s new financial network effectively
reduces CAC – thereby helping independent firms to generate more
revenue and to better compete.
With more than one million independent financial service
professionals in the United States, representing a range of small
and specialty firms, there is compelling value to those financial
professionals who join EF Hutton’s service network. These
professionals and firms represent expertise in retirement planning,
financial planning, tax, insurance, real estate and other financial
advice.
This initiative is led by EF Hutton’s new management team which
includes the grandson of EF Hutton, Mr. Stanley Hutton Rumbough as
Chairman. The Company’s new management started at the end of 2014
and includes Mr. Christopher Daniels as CEO and Mr. Lance Diamond
as CFO.
Mr. Daniels said, “Consumers know EF Hutton for our high-quality
professional advice. Our new service expands consumer choice. And
we do it with advanced internet-based technology that allows us to
deliver these benefits to the largest number of people.”
Mr. Rumbough added, “My grandfather started EF Hutton to help
people with their financial affairs, and we honor his legacy by
helping them to choose financial service professionals to address
their needs.”
EF Hutton’s objective is to grow the service network rapidly to
include thousands of independent providers who service millions of
clients nationwide. The famous EF Hutton brand, which is
widely-known for service and innovation, is expected to accelerate
growth of The Gateway. Furthermore, EF Hutton plans on expanding
the economic value of the service network by adding new services,
features and benefits. The value of The EF Hutton Gateway will come
from its size and growth-rate and the extent of interaction among
consumers and providers.
EF Hutton has also established an institutional division to meet
the needs of corporations, institutions and government entities,
each of which require a different set of services than the typical
individual client. The company plans to grow the institutional
division organically and by acquisition of firms that specialize in
servicing such clients. The institutional division is expected to
commence operations in the third quarter of 2015.
About EF Hutton
EF Hutton Financial Corp. is a subsidiary of EFH Group, Inc.
(OTC: HUTN). EF Hutton provides financial services and solutions
that improve the lives of individuals, families and their
communities. In connection with this strategic direction, EFH
Group, Inc. has decided to change its name to EF Hutton America,
Inc. The name change is expected to be effective in the second
quarter of 2015. EF Hutton is legendary for the service and value
it provides to clients. EF Hutton is bringing that legendary
service back using technology and other innovative means to add
value. That is why, as everyone knows, “when EF Hutton talks,
people listen.”
Cautionary Note Regarding Forward-Looking Statements
This document contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the company.
Contact EFH Group, Inc. for additional information.
CognitoSteve Brownell,
617-319-7297steve.brownell@cognitomedia.com
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