Indie BD managing $520 million becomes OSJ

HBW Securities in Simi Valley, California, takes 55 reps to Cetera

Jul 18, 2017 @ 4:19 pm

By InvestmentNews

HBW Securities, an independent broker-dealer based in Simi Valley, California, is giving up its broker-dealer status and becoming an office of supervisory jurisdiction with Cetera Advisor Networks.

HBW's 55 affiliated financial advisers and its home office staff will be involved in the transition. Its affiliated firm, HBW Advisory Services, which includes a registered investment adviser and a life insurance sales business, will be renamed HBW Insurance & Financial Services and remain a separate entity. In a release, the company said the advisory and insurance unit holds $300 million in assets.

The transition is expected to be completed in Q3 this year.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

The power of data

Your clients have financial news and data at their fingertips, but donít know how to interpret it. Katy Gibson of Envestnet|Yodlee and Blake Kannady of Envestnet discuss the power of leveraging aggregated data.

Recommended Video

Path to growth

Latest news & opinion

Tax reform: 7 essential strategies for financial advisers

While advisers face the difficult task of analyzing the law's impact, they will also have a significant opportunity to prove their value by implementing money-saving strategies for clients as well as their own businesses.

Tax law: Everything advisers need to know about the pass-through provision

The provision is tricky, but could provide advisers and business-owner clients with sizable tax savings.

Bill requiring fiduciary disclosure reintroduced in New Jersey

Measures would obligate financial advisers to tell clients they do not have to act in their best interests.

Merrill Lynch to let advisers text with clients

Texting has been a popular mode of communication for years, but in the past the firm's regulations have prevented advisers from using it.

Bear market for bonds has arrived, Gross says

10-year Treasury rate's move above 2.5% confirms outlook for fixed income, legendary bond manager says.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print