As some firms closed their doors, the regional BD saw a selling point for new recruits and existing FAs in a different approach.

“Financial advisors typically don’t speak athletes’ language, so athletes and entertainers gravitate toward those people who do,” said former Chicago Bears defensive end Adewale Ogunleye.

The hurdles faced by Black professionals who break into the financial services belie the notion that their small numbers at the industry’s top ranks are a pipeline problem.

Disclosing such information is rare in wealth management, but long overdue, says Andy Sieg.

For some, estimated tax payments are a non-issue. Others may earn all of their income from sources that don’t withhold amounts for federal income taxes.

Necessary new approaches include better cultural understanding, more flexibility for new entrants and more outreach, advisors and executives say.

Two women employees at the firm’s Newport Beach, California office say they were demoted after reporting instances of bias and harassment.

The former wirehouse team oversaw $1.15 billion and will staff a newly opened office for the regional BD.

Firms have only six weeks to find a replacement technology platform.

In a surprise announcement, Private Advisor Group tapped Moore as CEO nearly two years after he left Cetera for undisclosed medical reasons.