Securities America, the nation's seventh-largest independent broker-dealer according to Financial Planning's 2011 revenue rankings, continues to lose reps at rapid clip as they and the rest of the industry await the unit's eventual sale.
Commonwealth Financial Network recently announced it had lured away three practices run by former Securities America reps that generated annual fees and commissions of more than $4.2 million and expects to add more in the near future. Cambridge Investment Research also said it has lured away reps with combined production in excess of $3.8 million.
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