Thomas C . Prescott, Jr. is a founder and Managing Member of Advisory Services Network, LLC. Mr. Prescott brings 34 years of Financial Services Industry and consulting experience to the firm.
Mr. Prescott began his career in the Financial Services Industry in 1980 with Lehman Brothers Kuhn Loeb, Inc. Mr. Prescott underwent extensive training in various areas within the firm including operations, compliance, trading desk, as well as institutional and high net worth sales.
Mr. Prescott became a registered representative with Lehman Brothers Kuhn Loeb, Inc. in 1982. He successfully built and managed both retail and institutional client relationships, providing investment advice in the areas of portfolio management, asset allocation, stocks, bonds, options, limited partnerships, and other investment related services. Following the merger of Shearson American Express and Lehman Brothers Kuhn Loeb, Mr. Prescott and several other professionals left the firm to create an Atlanta branch office for a New York based firm specializing in taking small to medium sized companies public. In his capacity with the firm, Mr. Prescott called on both retail and institutional clientele and assisted in the recruitment and training of both professional and staff positions. In addition, he was instrumental in setting up the operations and compliance functions of the office. In 1986, Mr. Prescott returned to the institutional side of the business, working for Interstate Securities on the institutional fixed income desk. While at Interstate, Mr. Prescott’s customer base included banks (both portfolio and trust departments), money managers, hedge funds, pension funds, mutual funds, and broker/dealers.
As a result of Mr. Prescott’s experience within the industry, he recognized a need for a consulting firm to assist financial institutions with sales and internal growth, operational problems, clearance issues, compliance, and regulatory concerns. In 1987, Mr. Prescott formed Prescott & Associates to provide comprehensive consulting services to broker/dealers, investment advisers, banks, money managers, pension plans, corporations, and securities attorneys. Subsequently, Prescott & Associates merged with another consulting firm to create Mainstay Capital Markets Consultants, Inc.(“Mainstay”).
Mr. Prescott continues his consulting practice with Mainstay and provides services to both domestic and foreign clients including: retail and institutional broker/dealers, investment advisors, investment companies, mutual fund complexes, insurance companies, banks, thrifts, and hedge funds. Additionally, he has participated in overseas capital markets projects sponsored by USAID.
While operating Mainstay, Mr. Prescott founded Advisory Services Network, LLC (“ASN”). ASN is an Atlanta-based Registered Investment Adviser that registered with the U.S. Securities and Exchange Commission in 2010. ASN was created to serve as a true strategic partner and is a new option for those Investment Advisor Representatives and Register Representatives who seek independence without creating or operating their own investment advisory firm. ASN provides services and support as part of a larger corporate entity and frame work.