Posting & operating restriction whisper too much control. I don’t need to sell books, only advocate self-rule. A house in the metaverse will only stifle the reality of home ownership.

Look for your own miracle.

Meta fined $1.2 billion € over personal data allegations.

Keeping personal page for F&Fs, if I’m not sanctioned.

Opinions expressed, reflect only the signed author’s views and not the wider views of SMA Institute, or Strategic Management Advisors. They belong to the content creators and not www.thequietrich.com  Kevin j Palmer, the organization, its affiliates, or employees. Strategic Mgmt. Advisors/SMAI, author Kevin Palmer http://reawakeninganamericandream.com assumes no responsibility for errors or omissions in the content of this site. Information contained herein is provided on an “as is” basis with no guarantees of completeness, accuracy or usefulness. Kevin Palmer Arizona www.kevinpalmerscottsdale.com makes reasonable efforts to keep information correct, but makes no representations or warranties express or implied about the completeness, accuracy, reliability, suitability with respect to its information. Any reliance you place on this material is strictly at your own risk and Palmer Private Equity or Peace through Prosperity http://KevinjPalmerAuthor.com writer-rebel-producer-poet will not be liable for any false, inaccurate, inappropriate, or incomplete information on these websites. All rights reserved by Kevin J Palmer https://www.linkedin.com/in/kevin-j-palmer-3694bab1/

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Part 3 of a 3-part series (History Repeats) Encore Performance from 2003

Never again will you hear the objection, “the big firms have their own floor broker and better executions”, because such trading will soon be obsolete, as we predict so will the NYSE.

Because we know that after 9/11 a directive from the highest levels of government sent workers back to the exchange almost immediately to quell fears that a financial collapse would follow, and today 60% of those workers are reporting ill health effects from the toxic exposure that existed in the area after the attack.  Unequivocally confirming that the world financial markets are highly vulnerable to terrorism if trading takes places in centralized locations, thus prompting research on ways to decentralize the power of trading to locations similar to NASDAQ, which will further give equal and fair access to all individuals and firms no mater what your size or location.

Yes, the playing field has been leveled, and the perception of Fortune Five hundred brokerage firms being better then smaller ones no longer exists.

Investment intelligence, best price executions, global research, cutting edge technology, safety and integrity, is now available from the countries, next great source of financial services, the Independent Broker Dealers.  And if you don’t think that’s the case just look at the New York based company (National Financial Partners) that will go unnamed who is buying 20 to 25 independents a year because, they believe that’s where their money is.

Your world has changed and you now stand to benefit greatly if you get on board with this paradigm shift.  In 2002 our survey of the largest wire house brokers reported that they held an average of approximately 542 accounts had assets of 66.4 million under management and received an average payout of 36.3% to earn a median average income of $256,376.

Our projection for the next four years is that approximately 29% of wire house clients will leave their firms, taking with them the average of 20million in assets per broker. Which equates to, if you do your job right and capture those assets, an increase, of almost a 28% pay raise just for catching the fallout (not to mention the ancillary business), and that the average Independent brokers salary could be at parity with today’s wire house brokers by 2008.  And that is just if you are average.

Consider yourself better then average and I know many in this room do, that’s why you are here, then the sky is the limit.

Because part of this projection is due to a business model change at the large firm who will be actively releasing smaller clients in order to replace them with the one half of one percentile of the market that they have decided to focus on.

Which is great for you because the engine of your client base becomes the same as the demographic that is the most powerful force of the economy, the small business owner, who by the way  employee 50.1% of the private work force and produces 75% of all new jobs and has discretionary investable asset of 2.1 million. Not a bad market for you to control. It is one that can make you rich.

So, look around you because the person sitting next to you is now the new standard in the financial service industry and the firm that you are with, is now part of the countries new paradigm shift to independent broker dealers. And by continuing to provide the highest level of service to a new generation of investors, you will be part of the next great generation of firms on Wall Street.

Embrace the challenge take advantage of this new opportunity- to work hard have- fun – and make a lot of money.

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.

As Frank Burns said, “If I made any mistakes in this article, they are God’s will or someone else’s fault.”

Ordinary People

Pawns for Politicians

Bureaucrats

Corruption

Injustices

Ridiculous Restraints

Limit personal freedom

Stifle entrepreneurship

Special interest groups

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Under Attack

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https://kevinpalmerscottsdale.com/2019/04/11/election-time-and-more-of-the-same/

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http://www.douglas-budget.com/obituaries/article_2afa6758-4092-11e7-873c-b367d0fe4b6a.html

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After leaving Merrill Lynch when the investment industry required a paradigm shift. Kevin Palmer orchestrate an alliance of Wall Street and business executives at Strategic Management Adisors (later sMa Institute) to build better Broker-Dealers. Their mission was to provide smaller financial firms the perspective needed to implement change through operational efficiency and crystallized corporate culture. By combining cognitive psychology and conventional economic research, they improved business models, revenue generation and profit margins.

Kevin Palmer who is still currently registered as an RIA had at the time according to brokercheck his Series 65 (Uniform Investment Advisor Law Examination), obtained on June 18, 2004 : Series 63 (Uniform Sales securities Agent State Law Examination ), which he obtained on June 7, 1985; Series 7 (general securities Representative Examination ), obtained on May 18.1985; And Series 8 (General Securities Sales Supervisor Examination [Options Module & General Module ]) which he obtained on February 21, 1998.

Not wanting to give up that legacy of education and licensing, Palmer obtained approval from his former employer as a newly acquired consulting client, First Montauk to park his licenses, as a quid pro quo, providing he complied with firm rules about outside business activity disclosure’s and updated his continuing education examinations.

In the normal course of events there were mergers and acquisitions and the firm became part of First Allied Securities. Ten years had gone by after Kevin Palmer left the securities side as a stock broker to run his consulting firm and the memory of his agreement with the initial B-D faded as management personnel changed. He continued to run his own trading account but after the parent company of First Allied Securities emerged from bankruptcy Robert Moore CEO of Cetera was under pressure to perform. First Allied Securities and First Allied Advisory Services decided it was time to cut cost and clean up loose end to seek SEC approval to raise more capital for the teetering business.

It was expensive for them to keep licenses active for firm non-producers, like Palmer who had extensive outside business, charitable and BOD interests that required FINRA supervision. If they discharged him they could also save thousands of dollars in exchange fees because Kevin Palmer’s five -million-dollar day trading account and two related family accounts were managed at deep discounts. He was also utilizing the expensive institutional trading desk according to the agreement with First Montauk. So, they looked for a reason to terminate Kevin Palmer from First Allied Securities.

First, they insisted he shut down all websites for his outsider business activities hoping it would drive him out. When he flatly refused, they went after his wife’s Arizona-based design business and told him they need to house family website at First Allied Securities. When that didn’t work, Ryan Maul  a compliance manager called his “accounts” of record saying. “We are interested in hearing from investors who have complaints regarding Mr. Palmer.”

What they didn’t realize, was his two “accounts” were family related, one of which was his own rollover, jointly owned. When the natural response was , “of course he makes the choices .” They used the questionable technicality as an admission of guilt and discharged him for unauthorized trading.

The absurdity was not wasted on a securities arbitration & investment fraud lawyers who quickly made contact procuring authorization to defend him. Their truth was clear, Kevin Palmer had an outstanding track record of professional integrity by comparison to 98% on CRD records!  After 32 years in the security industry Palmer had only two allegations of misconduct during the time he was employed.

The one at Paine Webber Inc., was a firm wide investment banking issue. Specifically, PaineWebber themselves settled for more then $16,000 in 1994 per client who were an investment banking deal recommendation. The other, at Merrill Lynch was failure to supervise an adviser when in 2000, a customer alleged Kevin Palmer, while employed at Merrill Lynch and running Supervision and Trading modules, recommend unsuitable investments. That complaint settled for only $31,500 WITHOUT FAULT, because the customer had not lost money wholly but as a smaller part of a lager well diversified million dollar portfolio.

It was common practice to settle these small cases and keep powder dry for large dispute resolutions and complaints that are in then the millions of dollars and involve security fraud or financial scams. None the less First Allied needed to discharges this broker with a stellar track record of 32 years in the security industry as part of their cost savings and proceeded with the new course of action to adjudicate the former Arizona-based First Allied broker /adviser.

From Documents we attained, publicly available records, and sources close to the story we uncovered how subsidiaries like First Allied Securities were so overburdened with compliance oversight and 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.

According to Brooke Southall: “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.”

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.

Robert Moore former president of LPL Financial, became CEO of Cetera in September 2016, after the independent b/d network emerged from bankruptcy over discretionary trades and poor broker/adviser management. He replaced Larry Roth, who spent years in the security industry and discharged several roles at the broker-dealer.

Robert Moore’s abrupt departure from Cetera has raised questions that echo the bankruptcy of parent RCS Capital and how former employees like Kevin Palmer were treated. Moore, the former president of LPL Financial, was appointed CEO of Cetera in 2016 after the independent broker/ dealer emerged from bankruptcy. Moore, who said he left Cetera for “health” reasons, was the architect of an alleged “unhealthy” corporate culture that bled in to its subsidiaries like First Allied Securities, once run by Adam Antoniades who was passed over for the CEO role at Cetera.

Publicly available records provided through the securities industry indicate former CEO Robert Moore was at the helm when Cetera recruited aggressively by adding more than 800 advisors. Other filings show Cetara carried a significant level of debt during Moore’s growth strategy of accelerated mass recruiting and acquisitions.The firm avoided an investment in junk bonds but carried a significant level of debt. It’s growth strategy never really got off the ground but helped give rise in revenue to firms like fitapellui kurta who accepts all recoup cases on a contingency basis.

Currently Ben Brigeman will be serving as interim CEO and is someone who had been brought aboard in a general capacity without complaints, unlike Adam Antoniades from first allied securities who currently serves as president of the firm but was not promoted.

Stay tuned for more on this developing story.

By Kassiy Waddell

July 2, 2018

A Financial Justice group that seeks to disrupt institutional abuse, financial scams and Security fraud has obtained publicly available records and customer complaints that point to a culture of oppression at First Allied, a company acquired by Cetera.

{Arbitration FINRA claims; National Association of Securities Dealers (NASD) Arbitration No. 00001529 (March 28,2001}).

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.

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