First Allied to Partner With ‘Super-OSJ’

When it comes to recruiting and retention, competition for independent advisors is brutal these days.

For instance, Focus Financial Partners – led by Rudy Adolf — is helping advisor groups like Bridgewater Wealth add advisors through access to Focus' resources and capital base, including a $550 million credit facility.

"In general, practice management [efforts have] not done well in the industry, but they have done well at First Allied," said the senior Tambaro, who came out of a short retirement to launch the super-OSJ. "If you do it well, with all of First Allied's bells and whistles, your recruiting and work with those who join your team will succeed. My mantra is that growth is No. 1, along with succession planning, which you can never start too soon."

Cetera Financial Group is the retail investment advice platform of RCS Capital and includes 11 broker-dealers and about 9,700 independent advisors.

Through its wholesaling arm RCS Securities, RCS sells a number of products branded by American Realty Capital (ARCP), which disclosed accounting errors of about $23 million last year. Since then, founder Nicholas Schorsch has relinquished his roles as executive chairman and other positions within RCS and ARCP.

— Check out Cetera, LPL, Ladenburg Losing Appetite for M&A, Their Execs Say on ThinkAdvisor.