Fiduciary advocates expressed concern after FINRA member firms elected a "dissident" candidate to its board of governors after he said he would represent brokers, but not investors -- the core constituency FINRA says it exists to serve.

Brian Kovack of Kovack Securities beat out FINRA's endorsed candidate John Muschalek, vice chairman of First Southwest Company, to represent mid-sized broker-dealers with 151 to 499 advisors.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access