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Author: rafferty

Maybe the Workplace Needs Political Neutrality

14:21 27 February in Articles Written by Jon Henschen by rafferty

February 23, 2023 By Jon Henschen, American Thinker As I perused a list of rules the British Royal Family must follow, one rule in particular jumped out at me.  The Royals cannot express any political opinions.  They cannot vote.  They can't even speak publicly about politics or run for political office of any kind. With companies around the country increasingly perpetuating political stances, I thought of how appropriate it would be for companies to take a similar stance to the Royals, by not taking political sides. A political side we see being heavily pushed at companies is neither Democrat nor Republican, but rather Marxist.  The teachings by Frankfurt School academics have evolved into Critical Race Theory, intersectionality, cultural appropriation, and a variety of other academic theories.  These theories are disseminated through what you may be more familiar with in...

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Advisor Group branch manager prevails in messy recruiting dispute

15:01 10 February in In the News by rafferty

February 8, 2023 By Tobias Salinger, Financial Planning   A FINRA arbitration case showing the tensions between independent branches about recruiting moves and M&A deals ended in a victory for one of the largest enterprises at Advisor Group.   In a Jan. 23 ruling by an Oklahoma City-based panel, arbitrators rejected Cambridge Investment Research financial advisor Alan P. Niemann’s demand for $1.2 million in compensatory damages for unjust enrichment and violations of company recruiting rules by Royal Alliance Associates branch manager Brian B. Heapps. The dispute involved Niemann’s claim that Heapps owed him compensation for three advisors who went to Heapps’ branch, Innovative Financial Group.   Nieman and Heaps both headed offices of supervisory jurisdiction for Royal Alliance when Niemann decided to join Cambridge in 2020. Upon his exit, Niemann had hoped that advisors who retained his...

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Securian and Cetera generated $2.93 billion in combined annual revenue in 2021

15:45 03 February in In the News by rafferty

February 1, 2023 By Tobias Salinger, Financial Planning   The largest acquisition so far this year in wealth management comes with offers of retention payments to 1,000 Securian financial advisors, who are debating whether or not to join their buyer, Cetera. In an interview with Financial Planning one week after Cetera Financial Group’s Jan. 25 agreement to acquire the retail wealth business of Securian Financial Group, Cetera CEO Adam Antoniades confirmed that private equity-backed Cetera will provide financial incentives for “transition assistance” to advisors whose brokerage will change when the deal closes later this year. The parties didn’t disclose the financial terms of the deal. Antoniades declined to say how much financial assistance Cetera will extend for the incoming practices. He compared the deal to Cetera’s 2021 acquisition of certain assets of Voya Financial Advisors. Cetera is pledging to...