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Insurer-Owned B-Ds Slowly Fading Away? (InvestmentNews)

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The future looks bleak for independent broker-dealers owned by insurance companies, according to one group of industry executives, who forecast that these former industry leaders will be unable to keep pace with more nimble competitors that invest in, and increase, investment advisory services for reps. Case in point: between July and November, 87 registered reps left Tower Square Securities Inc., owned by insurance giant MetLife, to work at Cambridge Investment Research Inc., a leading broker-dealer for fee-based registered reps.