CEO counters characterization of recent comp grid threshold changes as aimed at raising profit margins at the expense of the compensation potential of advisors.
January 17, 2020
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The company passed $4 trillion in assets but its decision to drop commissions from most online trades has decimated trading revenue.
The continued expiration of forgivable loans issued by wirehouses during the height of the 2008-2009 financial crisis is cited as a reason for the rise in breakaways.
The company also allegedly failed to have adequate supervisory procedures to comply with Finra’s advertising rule.
The reviews are consultative in nature and factor in that cybersecurity is challenging and evolving.
The new strategies are aimed at diversifying fixed-income exposure.
The number of female CFPs grew 4% in 2019, while the number of black and Latinx CFPs soared 12%.