Financial Justice | Kevin J Palmer Scottsdale http://kevinpalmerscottsdale.com Champion of Financial Justice Thu, 25 Mar 2021 17:32:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.7 Crimes Against Humanity http://kevinpalmerscottsdale.com/2021/03/24/crimes-against-humanity/ http://kevinpalmerscottsdale.com/2021/03/24/crimes-against-humanity/#comments Wed, 24 Mar 2021 15:17:37 +0000 http://kevinpalmerscottsdale.com/?p=1295 When a country controls another politically and/or economically against the will of the majority it is wrong. The British established colonies in North America and people in the thirteen colonies revolted. “It takes a revolution to make a solution” -Bob Marley There are at least four types of imperialism in Read more…

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When a country controls another politically and/or economically against the will of the majority it is wrong. The British established colonies in North America and people in the thirteen colonies revolted.

“It takes a revolution to make a solution” -Bob Marley

There are at least four types of imperialism in the world, military, political, economic, and cultural. In the past the imperialistic countries used military and political imperialism to establish themselves, and then initiated economic and cultural imperialism. These motives included the desire to make money, to expand and control foreign trade, to create new markets for products, to acquire raw materials and cheap labor, to compete for investments and resources, and to export industrial technology and transportation methods.

In 1973, the General Assembly of the United Nations agreed on the text of the International Convention on the Suppression and Punishment of the Crime of Apartheid (ICSPCA).  “As such, apartheid was declared to be a crime against humanity, with a scope that went far beyond South Africa.

Stop “apartness”, Free Palestinian and Tibet. Apartheid was the name that the political party in south Africa gave to its racial segregation policies, which built upon the country’s history of racial segregation between the ruling white minority and the nonwhite majority.

If being an apartheid state means committing inhumane acts, systematic oppression and domination by one racial group over another, then Israel is guilty, a United Nations panel has determined in a new report.

The findings from an Arab-led group were not cleared or fully backed by U.N. leadership and do not set new policies toward Israel. Yet they reflect another attempt to use a U.N. forum to denounce Israel and seek to put its Western allies on the defensive at a time when some have questioned Israel’s hard-line approach, including expansion of settlements in the West Bank.

Apartheid was a term once associated with South Africa’s white-rule system, but now represents a broad term for crimes against humanity under international law and the Rome Statute that set up the International Criminal Court, said the report in its executive summary made public Wednesday.  Written by Ruth Eglash

 

Reawakening an American Dream: Creating Your Path to Financial Freedom

Kevin J. Palmer       Author

Reawakening an American Dream reveals the hidden secrets first-time millionaires have used to gain abundance or achieve financial freedom.

Until now, all so called “get rich experts” tout their own style of one-size-fits-all techniques. Their opinions are based on a single idea created through a personal filter, the very subjectivity of which decreases the odds of success for others. The truth is, no single formula for obtaining financial prosperity works. The only “expert” capable of determining how to create wealth is the person themselves and that makes options for succeeding infinite.

In Reawakening an American Dream, hundreds of personalities were examined. The conclusion: all people share external traits but what separates success and failure is an applied divine difference that link behaviors on an individual basis. It illuminates behavioral thinking that paves a way to wealth, by unlocking personal power permitting individual outcomes to naturally unfold–retooling the mind for individual best use. Actual success techniques were woven into the stories, making change virtually effortless, in much the same way children learn new behaviors because they are cognitively predisposed. Within Reawakening an American Dream, each story is enlightening and offers instruction that can open doors to readers’ own riches.

About the Author

Kevin J. Palmer is a financial industry veteran devoted to challenging economic injustices by empowering others to attain Financial Freedom. His proficiencies are rooted in decades of driving performance for Wall Street giants Merrill Lynch and Paine Webber. Then, as Managing Director at Strategic Management Advisors where partnering with other executives, he built better broker-dealers by improving business models during an industry paradigm shift. Opposing power in the hands of the too few, this writer, rebel, producer, poet exploded into advocacy to end economic abuse and assure morally achieved wealth. Humbled by blessings and aversion to seeing suffering, this unabashed champion of financial justice also participates in wildlife rescue, environmental stewardship–and as recipient of the Governors Archaeology award, is fascinated by the lives of individuals who lived thousands of years ago. He published a previous book, The Quiet Rich, as well as numerous articles and blogs on economic and financially related topics. Kevin has also had radio appearances on NPR’s Market Place, NPR affiliate KJZZ-FM, KXTZ-FM, as well as television appearances on KPNX-TV, KVVU-TV5, KNXV-TV. He currently resides in Scottsdale, AZ.

 

Alternate Box- describe picture or event. Wealth Expert, Financial Freedom, economic justice, Peace through Prosperity,

Title Box -Kevin Palmer author, Kevin Palmer, Kevin Palmer Arizona Kevin Palmer Author with an occasional J

 

COO / Co-Principle

Palmer Private Equity

Dates EmployedOct 2017 – Present

Employment Duration3 yrs 4 mos

LocationScottsdale AZ.

-Palmer Private Equity, is rooted in Kevin’s Behavioral Economic Research that once set standards for Wall Street brokerage firms. It is now run by Kevin & Gretchen both formally trained at NYSE traded corporations. It’s Philanthropic entity invests for the public good in the families nonprofit “Peace through Prosperity” projects to challenge Injustices through Self-empowerment.
-Kevin, also a Financial Freedom Fighter, illustrates as a Writer-Rebel-Producer-Poet, how emotional intelligence leads to decision processes that enable economic dignity & improves quality of life.

Kevin Palmer www.thequietrich.com

Author Kevin Palmer http://reawakeninganamericandream.com

Kevin Palmer Arizona www.smainstitute.com

Kevin Palmer writer-rebel-producer-poet _https://stopbrokerfraud.com/2018/07/02/kevin-palmer

Kevin Palmer Phoenix www.kevinpalmerscottsdale.com

Author and Journalist Kevin Palmer strategicmanagementadvisors.com

SMA Institute Kevin Palmer http://KevinJPalmer.com

Kevin Palmer discharged http://KevinPalmerArizona.com

Wealth Expert Kevin Palmer http://KevinJPalmer.com

Kevin Palmer Scottsdale ADD TO WISHLIST Paperback $17.95 $16.51

Kevin Palmer Arizona https://www.smainstitute.com/journalism.html http://palmerholdinggroup.com

Kevin Palmer http://KevinjPalmerAuthor.com

Jul 02, 2018 · Kevin Palmer has spent 32 years in the securities industry and was most recently registered with First Allied Securities in Scottsdale, Arizona (2008-2018). Previous registrations include First Montauk in Scottsdale, Arizona (2001-2008); Merrill Lynch in New York, New York (1994-2001); and Painewebber in Weehawken, New Jersey (1985-1994). http://KevinJPalmer.com

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Over Legitimized Self-Agency http://kevinpalmerscottsdale.com/2020/06/24/over-legitimized-self-agency/ Wed, 24 Jun 2020 21:41:46 +0000 http://kevinpalmerscottsdale.com/?p=1040 Your first thought was accurate. You are way out of your depth with only two years of history. My assumption is, since Redacted is taking over your business when you pass away, you forgave all she said about “your choices”. Wise move, and it makes you a good person but Read more…

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Your first thought was accurate. You are way out of your depth with only two years of history.

My assumption is, since Redacted is taking over your business when you pass away, you forgave all she said about “your choices”. Wise move, and it makes you a good person but you need to learn having money is not a factor when it comes to emotions. Don’t judge the grief of others until you have all the facts or walked in their shoes. We didn’t judge you when you were maligned. Instead we accepted you with your children and made our own decisions.

Families are all different and function on various mechanics —mine was fortunate. Tangled subjectivity or over legitimized self-agency barely existed. Yet, I’m not sure if my kindness would be like yours, if someone Redacted Redacted Redacted. What I do know is, family is not, a title, birthright, or legality. Family is an unselfish dynamic requiring, appreciation, external responsibility and empathy. quote from – Kevin Palmer Arizona

We never said Redacted Redacted Redacted. It goes deeper and I hope you will never have to experience our truth.

 

 

 

Jul 2, 2018.  Former Arizona– based First Allied Securities broker/advisor

Kevin Palmer was recently

Over Discretionary Trades

Kevin Palmer Arizona  
Kevin J Palmer Author & Financial Reporter

Author and Journalist Kevin Palmer – SMA Institute

Kevin Palmer Scottsdale

stopbrokerfraud.com

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Coming in November http://kevinpalmerscottsdale.com/2020/02/20/coming-in-november/ Thu, 20 Feb 2020 17:07:35 +0000 http://kevinpalmerscottsdale.com/?p=890 Reawakening an American Dream Your path to Financial Freedom Bridge the divide between growing rich and leading a good life by using profoundly inclusive ethnic and gender diversity research.   Develop fundamental actions from practical insights, called “Secret Success Standards” that develop and strengthen the books interpretations.   Learn how real Read more…

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Reawakening an American Dream Your path to Financial Freedom

Bridge the divide between growing rich and leading a good life by using profoundly inclusive ethnic and gender diversity research.

 

Develop fundamental actions from practical insights, called “Secret Success Standards” that develop and strengthen the books interpretations.

 

Learn how real people took individualized paths to attain wealth and become, your own teacher and your own powerhouse.

 

Reinforce individual attributes that tactically improved lives using practices that correlate to common personality types, uncovered in the research for this book.

Kevin J Palmer

Author, Writer, Rebel, Producer, Poet

 

#self-empowerment #economicdignity #wealthsuccess #millionaires #wealthexpert #financialfreedom #WriterRebelProducerPoet #WallStreet #AmericanDream #authorityonwealth

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Are We Free? http://kevinpalmerscottsdale.com/2019/10/24/are-we-free/ Thu, 24 Oct 2019 17:58:22 +0000 http://kevinpalmerscottsdale.com/?p=775 Five Million Hominin Walked on 2 legs upright Two Million Homo with bigger brains use hand tools 200,000 years ago modern humans survived climate change shared planet with at least 3 other species. 40,000 years ago Neanderthals became extinct after 1000 of coexisting sexually with modern humans 12,000 years ago Read more…

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Five Million Hominin Walked on 2 legs upright

Two Million Homo with bigger brains use hand tools

200,000 years ago modern humans survived climate change shared planet with at least 3 other species.

40,000 years ago Neanderthals became extinct after 1000 of coexisting sexually with modern humans

12,000 years ago the stone age ended and farming appeared

6000 years ago marked by the development of what we call civilization

200 years ago Americans won the right to be free. Are we free?

http://smainstitute.com/abilities-within-you/ 

thequietrich.com/category/financialfreedom

www.balboapress.com/en/bookstore/bookdetails/

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Polarization on the Rise http://kevinpalmerscottsdale.com/2019/08/12/polarization-on-the-rise/ Mon, 12 Aug 2019 14:59:55 +0000 http://kevinpalmerscottsdale.com/?p=607 Polarization is on the rise. A structural decline is happening in America that’s shifting people into the margins based on education, beliefs, or ethnicity. Denial about the circuitousness of change is leaving casualties at the road side as individualized behaviors are dictated by black and white values and not pragmatism. Read more…

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Polarization is on the rise.

A structural decline is happening in America that’s shifting people into the margins based on education, beliefs, or ethnicity.

Denial about the circuitousness of change is leaving casualties at the road side as individualized behaviors are dictated by black and white values and not pragmatism.  Advocates animal rights will attack you if you eat meat. One man’s terrorist is another’s revolutionary. We want free speech but not if you are a neo-Nazi.

A growing predetermined bias is creeping into social consciousness. Silicon Valley, boast that the IQ elite get richer while average and below-average intelligence gets progressively more segregated. But quietly all across America ordinary people are reawakening their own American dream based on unique characteristic only a mother could love.

During archaeology expeditions, I put myself in the place of ancients who lived thousands of years ago discovering that common men like me met challenges from the beginning of time. It was average individuals, not the elite, who overcome the greatest odds. Only individuals with a sense of purpose have power.

Americans have more confidence in Tim Cook, in Jeff Bezos than they have in their Senate. The more attention people give to politicians, the bigger their egos become and the less they do. Waiting for empowerment from a third party is not a strategy.

At the risk of sounding Egalitarian, I believe more people can have more financial security, in more diverse ways, simply by acknowledging their uniqueness. I don’t buy the research that correlates of IQ with economic success because it comes from deeper more emotional factors.

You cannot have a dialog about IQ without its twin, Emotional Intelligence which includes spiritual connectiveness as a much broader and more significant factor. If all people are not created equal, they all do have a unique ability to achieve equal rights and opportunities.

That is why I’m writing Reawakening an American Dream. Simply stated, it’s a toolbox that guides readers to their “flying point” by undertaking what comes naturally for them.

Because doing what you love, should be easy , and can reconfigure your brain’s behavioral responses for personal achievement.

 

~~

 

 

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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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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A Little Day Trading Habit http://kevinpalmerscottsdale.com/2019/06/13/a-little-day-trading-habit/ Thu, 13 Jun 2019 17:22:00 +0000 http://kevinpalmerscottsdale.com/?p=475 My second book is due out in November but already planning a follow-up for 2020 that will include contributing authors. You may want to hear about the process. I’ll warn you if you’re in the financial industry and want to be “personally entrepreneurial” there are challenges. I had an inactive Read more…

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My second book is due out in November but already planning a follow-up for 2020 that will include contributing authors. You may want to hear about the process.

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.

Comments are closed

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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Using Cognition and Personality to Make Financial Decisions http://kevinpalmerscottsdale.com/2019/05/13/using-cognition-and-personality-to-make-financial-decisions/ Mon, 13 May 2019 14:59:23 +0000 http://kevinpalmerscottsdale.com/?p=388 Using cognition and personality to make financial decisions   By Kevin J. Palmer under American Dream, Media Audio Player 00:00 00:00 Use Up/Down Arrow keys to increase or decrease volume.   Kevin J. Palmer Financial Freedom Activist         The information contained herein has been obtained from reliable sources however may not Read more…

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Using cognition and personality to make financial decisions

Audio Player

 

Kevin J. Palmer

Financial Freedom Activist

Kevin J. Palmer

 

 

 

 

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.

 

Kevin J Palmer

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More Modern Monetary Theory http://kevinpalmerscottsdale.com/2019/05/02/more-modern-monetary-theory/ Thu, 02 May 2019 14:25:56 +0000 http://kevinpalmerscottsdale.com/?p=351 Politicians will always default to easiest standard to make everyone  happy because they don’t understand what its like to make their own money first. Established under The Palmer Holding Group Ltd., a company grounded on two generations of integrity, accountability and citizenship. “Once contravention in old thinking is terminated, exercised discretion Read more…

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Politicians will always default to easiest standard to make everyone  happy because they don’t understand what its like to make their own money first.

Established under The Palmer Holding Group Ltd., a company grounded on two generations of integrity, accountability and citizenship. “Once contravention in old thinking is terminated, exercised discretion inspires self-realization.”

 

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.”

 

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Marketplace with TESS VIGELAND http://kevinpalmerscottsdale.com/2019/04/08/marketplace-with-tess-vigeland/ Mon, 08 Apr 2019 20:17:06 +0000 http://kevinpalmerscottsdale.com/?p=271 A Tribute to a Hard-Working Dad Radio Interview Segment, by Kevin J Palmer Listen To The Story Marketplace download embed TEXT OF STORY TESS VIGELAND: It’s Father’s Day this weekend. So I’d like to take this moment to send a shout-out to my Dad, Ted Vigeland, and all the other Read more…

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A Tribute to a Hard-Working Dad

Radio Interview Segment, by Kevin J Palmer

Listen To The Story

Marketplace

TEXT OF STORY

TESS VIGELAND: It’s Father’s Day this weekend. So I’d like to take this moment to send a shout-out to my Dad, Ted Vigeland, and all the other awesome Dads out there.

In honor of the occasion, reporter Kevin Palmer sent us this story.

KEVIN PALMER: For years, Ron Busby spent every day at the country club. He was picking up golf balls on the driving range for five bucks an hour. It was his only income to support two small children after his wife passed away. And he did it without complaining.

RON BUSBY: I had a dad who worked hard, had two or three jobs. I had a mother who was a teacher, so she believed in getting an education. In my generation, we believed the key to success was education.

Busby is the son of a janitor. His father ran a tiny business cleaning offices and houses in Oakland, Calif.

BUSBY: In my community, there weren’t very many affluent people. The first affluent person I met was at a track meet, and this guy happened to be a dentist. He was an African American, and I was like, “Wow, this is how I want to live.” So I decided when I was in ninth grade, I wanted to be a dentist. A year later, I met another guy that was doing very well financially and I asked him what he did, and he said that he was an insurance agent. So I said, “Oh great, I want to be an insurance agent.” For me, it was always not necessarily the job, but the lifestyle that I was looking to do. And the career helped get the lifestyle.

Now, Busby is president of American Janitorial Services. That’s a nationwide company with more than 200 workers. His conservative dark suit might scream corporate America, but he started at the very bottom of the business ladder.

BUSBY: I went to McDonald’s to work in their minority franchise program, where I was flipping burgers, counting change and sweeping and mopping floors.

After his experience at McDonalds, he returned to Oakland to help his dad’s fledgling janitorial business. And then he went out on his own and started his own company. He says perseverance is more important than popularity.

BUSBY: Don’t get caught up on the guy who’s the hero, or the guy that’s the most visible. If you look on the shows, the MTV Cribes and all these hype shows, they always show the one guy. And I say, well, let’s look at his neighborhood. Who else is there? What are they doing? Let’s not caught up on the basketball, the football player. But there are a lot of folks that, you know, live in his community that are doing successful as well. Let’s concentrate on them.

And what he concentrates on is what his family taught him years ago: the value of hard work.

In Phoenix, I’m Kevin Palmer for Marketplace Money.

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Become a Marketplace Investor today – in whatever amount is right for you – and keep public service journalism strong. We’re grateful for your support.

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Brooke Southall is Spot-on About Cetera Part 2 of Her Story http://kevinpalmerscottsdale.com/2019/03/19/brooke-southall-is-spot-on-about-cetera-part-2-of-her-story/ Tue, 19 Mar 2019 15:51:45 +0000 http://kevinpalmerscottsdale.com/?p=184 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 Read more…

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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.

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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