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

3 Questions to ask yourself when making your succession plan

Michael Futterman from Janus Henderson Investors has sage advice for advisers as they approach retirement.

Latest news & opinion

CFA Institute adding crypto, blockchain to curriculum

Subjects will be added to its Level I and II coursework for the first time next year.

Trump tax plan making dividend ETFs hot

Funds that are seeing inflows largely steer clear of sectors like utilities.

Wells Fargo Advisors continues to see a decline in brokers

Company also set aside $114 million over fees for rich clients.

Morningstar to replace funds in its managed portfolios with nine of its own

New sub-advised funds, offered exclusively through financial advisers, are intended to lower costs and provide 'greater flexibility.'

Average client assets top $2 million for first time

Charles Schwab's latest RIA Benchmarking Study reports organic growth is driving increased AUM and revenues.

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