New York, NY (PressExposure) February 14, 2011 -- As of now, it seems that same as FSC Securities which is in connection with the breaking-down of 50 B-D's reps with clear indication of stability in winning over the packages
With QA3 shutting down last week, it is very clear that FSC Securities Corp will be the victors over their feud between the advisors still connected with the said financing. The 50 reps believed to be under the FSC can gain up to $7M for fees and commissions that are already registered beforehand to become part of the broker-dealership.
FSC's Chief Executive, Mark Schlafly said that their firm is financially stable hence it has no outstanding accounts and that it is sitting right above beyond the quantified net capital. Its stability was mainly recognized by QA3 reps as per statement made by the executives and brokers who were connected in the act. Those who went out of the business loop the previous year like QA3 had low profile capitals wherein legal transactions and possible liabilities had cost them too much which was way beyond their financial capabilities. The cause of FSC's financial stability was the result of the firms soaring income from their two-and-a-half years' stable operation.
QA3 Advisor, John Jastremski of The Retirement Group who now resides in San Diego said that he already anticipated that B-D will be out in the business industry. Mr. Jastremski and the rest of his team from The Retirement Group will be moving to FSC who seconded Mr. Schlafly's statement about the financial stability of the firm. Mr. Jastremski stated that he was more concerned on the firm's net capital though he refused to give comments on how much FSC was offering him along with the rest of the team.
He merely said that it was fair enough adding further that other firms are more aggressive.