Apparently it was a front-line rep who suggested that Securities America ask its 1,800 advisors to sign a letter of loyalty and confidence while the firm's owners lock down a buyer.
The three-paragraph note making the rounds at the firm gives each advisor a place to express faith in management and the "opportunities" that a new owner could provide them and their clientele.
As yet, there is still no indication of who that buyer might be, but the note also indicates that Securities America executives are working with current owner Ameriprise to find a fit that makes sense for everyone concerned -- not just financial sense for a corporate overlord tired of the awkwardness and expense of being tied to an independent subsidiary.
Obviously, the more of the advisor pool Securities America can retain during the acquisition process, the better that transition can go.
The question is what Securities America clients think of all this. Did the ones that were feeling a bit nervous already jump? Or are they, like us, still hanging on in suspense?