ProEquities picks Pershing Advisor Solutions as advisory BD
REGISTER NOW A midsize wealth manager seeking to expand its advisory business is taking a novel approach from rivals by outsourcing broker-dealer services to its custodian. Itâs a move that falls into the industryâs ongoing trend away from commissions and toward advisory fees, and illustrates a new twist in firmsâ hunt for costs to cut as business models change. The move by ProEquities to replace itself with Pershing Advisor Solutions as the introducing BD for its primary type of RIA account, the Advisory Management Plus Platform, follows several years of discussions and due di...
Source: financial-planning.com