Knowledge and Insight

Why so few breakaways? Too much regulation, says Pershing exec

From Investment News

Added on June 2011 in Join an RIA

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Summary: Oppressive regulation is having an impact on the number of breakaway advisers, according to Mark Tibergien, president of Pershing Advisor Solutions LLC. The challenges are causing advisory firms to consider merging with similar firms to ease compliance and operational burdens, he added. "Exams are focused on a process and the people coming in to do exams are not knowledgeable and informed." Tibergien said.