A Florida wealth-management firm that oversees $500 million hires brokers who’ve had run-ins with the law or regulators.
Some of the brokers reported minor infractions, such as shoplifting as a teenager, while others faced enforcement actions from groups like the Financial Industry Regulatory Authority.
The midsize firm’s strategy — which industry headhunters say is unique — helps it broaden the talent pool, according to its founder.
One would-be broker stole two hot dogs while drunk in college. Another was fined and fired when his firm created and forced him to sell bad products to individual investors. And another racked up a dozen incidents with a financial regulatory group and nearly let his license expire but couldn’t see what he did wrong.
All had black marks on their public records.See the rest of the story at Business Insider
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