Proudly Fired for Insubordination

To achieve wealth, and the financial freedom that goes with it, all you need to do is change how you think. A recent SMA Institute study reveals, it’s not hard to change neuropathways in the brain and move into top percentiles of income or wealth. Most people tend to default to things they were taught as children, like being good students, or employees. But in order to thrive you must first unlearn some habits. If you’d rather not break rules or make waves at work, stop reading—but. if you want to get rich, get fired!

“One of my beloved accomplishment was being fired from FAS for insubordination.” Sometimes called, termination, laid off, or bad fit. It’s all corporate code for don’t sue us after you leave. Lighting a fire under mealy mouthed executives who think they are insulated gives me a rush. My former industry like most, was packed with empty suits who get paid on the blood, sweat and tears of hard-working ordinary folks who never get any loyalty but whose toil benefits owners that keep getting richer.

As a young news reporter in Baltimore, Oprah Winfrey’s boss said she, was a bad fit and look what happened to her. Lots of rich people got fired. Mark Cuban, Thomas Edison, Walt Disney, my old neighbor Jerry Seinfeld. Even Abraham Lincoln was reduced to the military rank of private before he rose to President of the United State. While training stock brokers at white shoe Wall Street firm I needed to fire someone consistently missing expectations. He left and made millions as a computer dating entrepreneur.

Society would not work if no one was subservient because everyone would be a general and there’d be on soldiers. Control is essential and using fear bases rules, like with Covid19, it keeps the masses in order so those in the top percentiles of power can make the most money. As far back as 1200 BC Egyptian pharaohs agreed to protect farmers and then made them follow their rules while collected golden treasures. In England, during the Peteloo Massacre of 1819, people protested against such rule and were attacked by their own militia. Eighteen people were killed.

Once you give up your power, you may not get it back. Keep in mind there’s a long list of those who opposed institutions and governments, like Elon Musk, J.K. Rowling or Bill Gates. Disruptors get rich and don’t buy into mass think. My licenses were granted by FINRA and middle management bureaucrats used that to threaten, but no one needs a license to get rich. Serving agendas of companies, institutions and governments will only keep you in debt.

Resisting to be ruled will affect neuropathways in the brain and help you let go of misconception like, your boss knows better. Remember Doghouse Reilly. “I was fired for insubordination. I seem to rate pretty high on that…” If you want to make millions resist when others repress your ideas and express what you do best. Unlearn old habits and replace them with personal empowerment to launch transformational  change that will keep your focused and rich.

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There is no longer any doubt that the few remaining rights of financial advisors are under attack by the likes of PIABA. AdvisorLaw encourages financial advisors to consider the implications of hiring a PIABA member if or when representation is needed. Public data shows that PIABA members have been hired by financial advisors hundreds of times in the preceding five years. Whether the advisors knew of their representation’s affiliation with PIABA is unknown.

Although it would not rise to the level of funding a terrorist organization, reps whom hire a PIABA member may be perceived as aiding in the attack on all financial advisors. Through PIABA’s website (PIABA.org), advisors can vet potential representation against a list of PIABA members.

If you find yourself in need of representation and you prefer working with those who continue fighting for the rights of financial professionals , AdvisorLaw is the right call to make.

Give me a call, I’m available today to discuss the viability of your case at no charge.

Regards,

Josh Barber

Executive Director

AdvisorLaw

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us.  Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts.  All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source. This posting and the information on our website is for general information purposes only.  This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship.  Combating Dishonest Attorney Advertisement. If you or someone you know has lost money investing call 480- 515 -2211 for a free consolation about the facts. Because some Stock Fraud news & Information Attorneys at Law accepts all cases on a contingency basis:  and only get paid if and when you collect money.  The feasibility of your claim may be limited, because you may not be eligible to recoup your losses. So we encourage you to avoid delay.  Call us first now to speak for free about such an attorney who would make the financial mistake of posting a solicitation about some on with only 3 clients. Securities Fraud Reports (1185) / FINRA Disciplinary Action (512) / FINRA Claims (317) /Customer / Complaint (315) / FINRA Dispute Resolution (211) / How to Avoid Financial Scams (150) / Class action (143) / Investor Tips (99) / Terminated (73) / Regulatory Sanction (64) / AWC (18) / FINRA News (18)

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It was an ego move for a bigger title and not much more money and in the ended it became my job to help resuscitate its bad business model and rebuild the B-D to save my own job. Oh Lord, the hidden secrets we find once we are deep in the thick of it! “Heavy is the head that wears the crown.”

I worked hard to helped turn the company around and eventually complete a distressed acquisition sale to the exploitative management of First Allied Securities for almost $5,000,000 on December 23rd 2008. Once First Montauk Securities filed form BDW to withdraw its registration as a broker-dealer, I was gone.

It was then time for me to divest from the rapacious chain of deceit brought on by First Allied Securities who would eventually need a similar bailout from Cetera Financial Group.

Ultimate though amid all that turmoil, I had discovered my new core strength and the opportunity of providing similar breakthrough value to help other leaders navigate highly disruptive environments.

My natural passion and talent to think creatively when others avoided complex and ambiguous problems was the driver of my broker dealer advisory firm, Strategic Management Advisors.

https://www.linkedin.com/search/results/all/?keywords=Strategic%20Mgmt.%20Advisorshttp://www.thepalmerholdinggroup.com/ https://clustrmaps.com/a/31u05h/ https://www.zoominfo.com/c/phgltdnet/353789585http://kevinpalmerscottsdale.com/2019/07/11/a-family-lives/https://www.palmersquarecap.com/

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us.  Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts.  All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source. This posting and the information on our website is for general information purposes only.  This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. 

Combating Dishonest Attorney Advertisement. If you or someone you know has lost money investing call 480- 515 -2211 for a free consolation about the facts. Because some Stock Fraud news & Information Attorneys at Law accepts all cases on a contingency basis:  and only get paid if and when you collect money.  The feasibility of your claim may be limited, because you may not be eligible to recoup your losses. So we encourage you to avoid delay.  Call us first now to speak for free about such an attorney who would make the financial mistake of posting a solicitation about some on with only 3 clients.  Posted in: Terminated adjudicate the former Arizona-based First Allied broker /adviser. Tagged: First Allied and Kevin Palmer Comments are closed. Securities Fraud Reports (1185) / FINRA Disciplinary Action (512) / FINRA Claims (317) /Customer / Complaint (315) / FINRA Dispute Resolution (211) / How to Avoid Financial Scams (150) / Class action (143) / Investor Tips (99) / Terminated (73) / Regulatory Sanction (64) / AWC (18) / FINRA News (18)

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In the end I turned the company around but it needed a distressed acquisition sale. When that was in play it was time for me to divest because I’d discovered my new opportunity of providing similar breakthrough value to help other leaders navigate highly disruptive environments.

My natural passion and talent to think creatively when others avoided complex and ambiguous problems was the diver of my broker dealer advisory firm, Strategic Management Advisors.

https://www.linkedin.com/search/results/all/?keywords=Strategic%20Mgmt.%20Advisors http://www.thepalmerholdinggroup.com/ https://clustrmaps.com/a/31u05h/  https://www.zoominfo.com/c/phgltdnet/353789585 http://kevinpalmerscottsdale.com/2019/07/11/a-family-lives/ https://www.palmersquarecap.com/

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us.  Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts.  All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source. This posting and the information on our website is for general information purposes only.  This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. 

Combating Dishonest Attorney Advertisement. If you or someone you know has lost money investing call 480- 515 -2211 for a free consolation about the facts. Because some Stock Fraud news & Information Attorneys at Law accepts all cases on a contingency basis:  and only get paid if and when you collect money.  The feasibility of your claim may be limited, because you may not be eligible to recoup your losses. So we encourage you to avoid delay.  Call us first now to speak for free about such an attorney who would make the financial mistake of posting a solicitation about some on with only 3 clients.  Posted in: Terminated adjudicate the former Arizona-based First Allied broker /adviser. Tagged: First Allied and Kevin Palmer Comments are closed. Securities Fraud Reports (1185) / FINRA Disciplinary Action (512) / FINRA Claims (317) /Customer / Complaint (315) / FINRA Dispute Resolution (211) / How to Avoid Financial Scams (150) / Class action (143) / Investor Tips (99) / Terminated (73) / Regulatory Sanction (64) / AWC (18) / FINRA News (18)

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Hunt’s flaw was that once he solved a problem in his mind he moved to the next case.”

Established under The Palmer Holding Group Ltd., a company grounded on two generations of integrity, accountability and citizenship.

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The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us.  Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts.  All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source. This posting and the information on our website is for general information purposes only.  This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship.

Cutting-edge investigations/ Economic Activism/ Seeks Economic Justice /Humble Warrior /Peace Through Prosperity /Financial Freedom Activist /Foster Economic Understanding / Financial Literacy /Behavioral Finance Strategist /Enable Economic Dignity / Improve Quality of Life/Resist Question authority Kevin Palmer / Kevin Palmer Scottsdale/ Kevin Palmer Arizona/ First Allied Securities / Arizona Based / Discretionary Trades / Merrill Lynch (909) Liberty St. (10005) Customer Complaints / Securities Sales Supervisor / Terminated /Avoid Financial Scams/ Security Fraud /Financial Justice/  Author Kevin Palmer /  Kevin  Palmer Arizona/ ttp://smainstitute.com/https://kevinpalmerscottsdale.com/2019/04/11/election-time-and-more-of-the-same/ http://smainstitute.com/sma-multi-media/https://www.stopbrokerfraud.com/news/kevin-palmer/Jul 2, 2018 – Achieve tags stockbroker fraud News (877) SEC-ATTY Nicholas J. Guiliano https://thequietrich.com/tag/rebelmagazine-com/

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I’ll warn you if you’re in the financial industry and want to be “personally entrepreneurial” there are challenges. I had an inactive license with a B-D, that was in process of preparing for a desperately needed M&A deal to stay afloat. When they got wind of my book they said, “ease and desist.

My consulting firm advised their predecessor Montauk Financial in 2005 and allowed me to hang my license as a courtesy. They were under financial pressure so my unlimited trading access was part of the fee. Eventually First Allied Securities bought them. So technically I wasn’t an employee only an outside business consultant.

They tried to sue me for all of the “free” platform costs incurred over the eight years while  managing my own account! This history is relevant because the second book is about having wherewithal to stand up to abusive companies and it became the perfect PR moment.

Of course they lost their financial case but retaliated by compromising my license, which in hindsight, I should had terminated years ago.

Established under The Palmer Holding Group Ltd., a company grounded on two generations of integrity, accountability and citizenship.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us.  Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts.  All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source. This posting and the information on our website is for general information purposes only.  This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship.

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Financial Freedom Activist / Foster Economic Understanding / Series 65 / Uniform Investment Advisor / Law Examination/ June 18 2004/ Tagged First Allied / Kevin Palmer Series 63 Uniform Sales securities Agent State Law Examination/ June 7, 1985 /  Securities Fraud Reports /  Series 7 general securities Representative / Examination May 18.1985 / FINRA Disciplinary Action / Series 8 /General Securities Sales Supervisor Examination /Options Module & General Module / Financial Literacy / Enable Economic Dignity / Improve Life Quality / Resist /Question Authority) Terminated Economic Abuse

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Here is Part 2 of Her Story

Something to prove

Over the past several months, Moore lost a significant amount of weight, the source noted. He also started insisting colleagues refer to him jocularly as “RJ,” instead of his long-used name “Bob.”

Mark Casady stepped down as CEO of LPL to found a venture capital fund.

His departure may also possibly have something to do with a falling out with Genstar, the source said.

The company offered only a brief comment in response. “RJ is stepping down as CEO of Cetera strictly for health reasons, as stated,” Cetera spokeswoman, Adriana Senior said in an email. “Beyond that, it is not our policy to comment.”

When Moore was hired, it’s unlikely anyone could have predicted this outcome.  With Genstar’s deep pockets, the newly minted CEO confidently boasted he would beat rival LPL Financial at its own game by developing bone crushing scale through a massive hiring spree.

Moore clearly had something to prove. After serving as LPL’s president, he was passed over to replace LPL CEO Mark Casady in 2016. The job went to Dan Arnold, and Moore left the firm for Cetera shortly afterward.  See: Sources: Larry Roth is out at Cetera, supplanted by ex-LPL president, Robert Moore

Under his leadership, Cetera appeared to hit the ground running. It reported three months after the Genstar sale that it had onboarded more than  $650 million in fresh brokerage and advisory assets. But soon after, those gains were wiped out by a series of LPL raids.

In a series of swift blows, LPL poached $4.5 billion in cumulatively managed assets and four separate RIAs. LPL’s biggest coup was the capture of $3.7 billion AUM Exemplar Financial Network, in Crystal Lake, Il.

Last April, LPL Financial declared a recruiting “war” against Cetera and two other broker-dealers. The fury and focus of the drive shocked recruiting firm principals and internal LPL-affiliated OSJ recruiters because of the way it’s singled out the firms.

The move at least raises a question whether Moore unnecessarily antagonized the massive broker-dealer. See: LPL Financial wages ‘war’ on Cetera, Securities America and Kestra after they pounced on NPH advisors in wake of sale

Even so, Cetera’s network recruited more than 800 advisors with $5.3 billion in client assets in 2018 under ex-LPL veteran, Michael Murray, who joined Cetera in May a year ago as head of business development.

Moore’s hurdles, however, extended beyond recruiting. He was also tasked with improving Cetera’s technology to attract reps. In Oct. 2016, he cut a sweeping deal with PIEtech Inc., that made its MoneyGuidePro and Best Interest Scout software available for license by its legion of brokers.

Michael Murray was a significant poach from rival LPL by Robert Moore at Cetera.

But this past February, news broke that advisors were growing frustrated with the slow roll out of technology initiatives. “They’d promise and promise and then miss the target date and miss the target date,” said one unnamed advisor.

“When we went to the annual meeting, they were talking about all this technology that they were going to be doing. We didn’t see that happen,” Kathleen Hansen told Wealth Management.  The founder of The Financial Planning Department, left Cetera for LPL last September.

Advisors also complained about failed promises over an equity sharing plan. Though the new owners allowed advisors to buy equity, the retention bonuses or equity grants that many expected never materialized.

As a result, some significant practices jumped to rival firms over the past two quarters of 2018, according to the report.

If there was a falling out with Genstar, it may involve the venture capital firm’s abortive bid to pay upwards of $1.3 billion to buy a majority stake in rival Advisor Group.

An executive quoted by Financial Advisor magazine said a merger would shave $100 million in expenses if it both operations were combined. Advisor Group’s umbrella covers four broker-dealers and Cetera has six.

Reports of the merger were rife enough to spur Advisor Group CEO Jamie Price to address the issue with employees in a letter. “We want to let you know that we are not in discussions with Genstar or Cetera,” he wrote.

Ben Brigeman, a former Schwab executive, has been named temporary CEO while Cetera searches for a full-time successor.

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February 20, 2019 — 12:24 PM MST by Brooke Southall

Brooke’s Note: There is something mercenary about the way that the former insurance broker-dealers get bought, sold, spruced up and staffed. The (formerly ING) Cetera and (formerly AIG) Advisor Group entities are equal parts grand rafts of human financial advisory potential and leftover insurance broker culture that meant not only selling but favoring the brand on their business cards. As such they are catnip for private equity firms who surmise that even marginal improvements can yield enormous gains in value. But when they install mercenary CEOs, they not only expect results, they expect results yesterday. Against that backdrop, Robert Moore is out at Cetera. The official reason and the industry-buzz reason for his planned exit next month differ in their specifics.

Just like that, CEO Robert Moore’s abrupt departure from Cetera–for a suddenly disclosed, unexplained health reason–has cast a dark cloud over the independent broker-dealer’s ambitious expansion plans, which he was hired to lead in 2016.

Moore, 63, was touted as a white knight who would lead the star-crossed broker-dealer to new glory after Cetera’s parent company,  RCS Capital, emerged from bankruptcy in 2016. It was acquired two years later by venture capital firm Genstar Capital for a whopping $1.7 billion.

Dan Arnold aced out Robert Moore for the CEO’s job at LPL, which set in motion Moore’s hiring by Cetera.

But in a sharp turn of events, the company made the surprise announcement Tuesday (Feb. 19) with a short news release.

It failed to provide any details about Moore’s health crisis, or why the decision to step down came, seemingly, out of the blue. Some reports said he is not suffering from a terminal illness.

Moore had this to say in a statement: “Recently I have been dealing with a health issue that has continued to require treatment and, on advice of my physician, now warrants that I cut back on my current commitments which is essential to my overall recovery.”

At the moment, Moore’s unspecified health problems and that backstory leading to his departure remain a mystery. But at least one inside source has told RIABiz there is far more to the story.

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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.

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