In the next several weeks we will examine a culture of oppression and its history at Cetera under Robert Moore, and how it trickled down to First Allied Securities and alleged rule violations.
From Documents we attained, publicly available records, and sources close to the story we will uncover how subsidiaries like First Allied Securities were so overburdened with compliance oversight they infringed on personal freedoms of individual broker/adviser and discharged a command and control edit that mocked uniform investment advisor law going so far as to discriminate against simple family economic freedoms.
The result was declining advisor retention despite a publicly available plan to acquire another broker-dealer firm. Former Arizona based FINRA registered reps ,say they were frustrated after staying affiliated with the firm through a troubled history in connection with aggressive contravention. A likely reason Cetera’s private equity owner Genstar’s discontinued talks with another undisclosed broker-dealer firm.