Morgan Keegan Losing Advisors With No Firm Buyer In Sight
- Created: Monday, 19 December 2011 09:11
In just the last few weeks, eight of the independent broker-dealer's roughly 1,200 registrants have reportedly jumped.
Most have gone to regional rivals or back to wirehouse environments.
While the recent losses are not exactly crippling, they do continue what must -- for parent company Regions Financial -- be a disturbing pattern of defections stretching back months.
Regions had private equity buyers lined up to take over Morgan Keegan, but they backed out in early November when the MF Global debacle dried up financing throughout the industry.
Now that the only publicly known serious bidder left at the table is Stifel Nicolaus, Morgan Keegan's reps aren't happy.
The long-term future of their firm is up in the air and the most likely scenario is that they get absorbed into a much larger competing network. No wonder they're leaving...or at least watching the exits.
This Website Is For Financial Professionals Only
- Despite Its Long Rap Sheet, Merrill Lynch Is Coopting The Fiduciary Message; Thundering Herd Will Beat A Glorious Path To Restoring Investor Trust
- Commonwealth Financial Network Announces New Advisor Affiliation Models: You Can Be A Fee-Only RIA And Leverage The BD's Services
- 2012 Report Identifies Top Five Challenges For Broker-Dealers Along With Industry Trends And Best Practices
- Lincoln Financial Advisor Defamation Case Highlights The Limitations Of Brokercheck