Regardless of what the future holds for the Department of Labor’s embattled fiduciary rule, it’s clear the industry is facing ever-tightening regulations and the increased cost of compliance. Consequently, more and more small and mid-sized independent broker-dealers are surrendering their costly supervisory and compliance responsibilities and rolling up under independent advisory and brokerage firms as super branches.
The winning mix that helped a young advisor build a growing OSJ group.
Once you've transitioned from a broker-dealer to a super OSJ, you'll no longer need to worry about these responsibilities.
With the failure rate for new advisors at 80-90 percent, hiring associates can be a costly decision if not handled correctly from the start.
Growing regulatory risks, shrinking margins and increasing litigation have the owners of many small and mid-sized broker-dealers in search of an exit plan.