Finra moving to slimmed down headquarters in D.C.

Finra moving to slimmed down headquarters in D.C.
The change will offer the regulator's employees a hybrid approach that combines in-office and remote work.
OCT 06, 2022

In a nod both to changing work habits and real estate expenses across the technology-dependent financial advice industry, the Financial Industry Regulatory Authority Inc. is moving its headquarters to a smaller facility next year.

The new offices are right across the street from the self-regulator's current location, which has been its headquarters since 1971, according to Finra.

"Finra will move its Washington, D.C. headquarters to smaller, more modern and more efficient space in late 2023," a spokesperson wrote in an email to InvestmentNews. "A lease for 67,000 square feet at 1700 K Street NW will become effective December 15, 2023, concurrent with the expiration of the current lease for 80,000 square feet at 1735 K Street NW."

Amid the record-breaking stock market of 2021, brokerage and financial advisory firms were more profitable than ever. But some large enterprises are struggling with the cost of long-term leases for offices in city centers where advisers and staff are loath to work after toiling at home became such an attractive option during the Covid-19 pandemic.

The change will offer Finra employees a hybrid approach combining in-office and remote work. It "enables Finra to effectively accomplish its investor-protection mission in an open, more flexible and collaborative office environment, while controlling costs," the spokesperson added.

Finra will inhabit two floors of the building at its new location. The organization has regional offices around the country, including Atlanta, Boston and Boca Raton, Florida.

In July, Finra reported $218.8 million in net income in 2021, a $199 million increase over 2021, as market volatility generated a big increase in trading fees.

'IN the Office' with Jon Foster, CEO of Angeles Wealth Management

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave