Cetera Financial Group has seen a shakeout among senior executives, with five leaving so far this month.
Last week, InvestmentNews reported that Michael Murray, head of business development in charge of recruiting, had left the firm. Four other top executives have left in April, according to Bro
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'Our department’s Reg BI-related disciplinary actions have been increasing,' noted a senior Finra executive.
'The wealth managers have been unbelievably supportive through all of this,' said Bryant Riley, the firm's chair and co-CEO.
The use of unmonitored messaging apps by financial advisors has been on the rise in the wake of the Covid-19 pandemic.
'Does Osaic really need these redundancies in management,' asked one industry executive.
'The advisor wants to get out of the business at 65 or 70 but clients will live to be around till 90,' says one banker.
