'Ironically, I think the redemption issue is the best thing ever happen to nontraded REIT space,' says Kevin Gannon of Stanger.
Expenses are rising: LPL Financial said in October that its core general and administrative expenses were up 15% year-over-year.
'The brokers are besides themselves, especially the independent brokers,' one source says.
'There are some high, high quality firms that have been competitors of ours for years that are willing to engage,' says AlTi CEO Mike Tiedemann.
Titan Securities is already among the departed. It's not footing the bill for its own funeral.
'The conversation of the economy being in a recession has led to advisors not feeling stable for quite a while,' one executive says.
'There are so many people who pushed me when I needed a nudge and pulled me up when I needed a hand,' says Kay Lynn Mayhue.
"We don’t agree with the decision but, with Finra arbitration, there is no appeal," says William H. McCance, president of Ages Financial Services.
The improvement demonstrates that the giant broker-dealer network, which many believe will seek to go public in the next few years, is moving its cash flow in the right direction.
The settlement with Baird stems from Finra's 2020 targeted examination regarding rights of reinstatement.
