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Financial Advisory  + Broker/Dealers  |  August 16, 2023
SEIA Set to Launch In-House Broker-Dealer
Joe Palmisano
By: Joe Palmisano

SEIA Set to Launch In-House Broker-Dealer

Signature Estate & Investment Advisors (SEIA) announced its in-house broker-dealer, Signature Estate Securities (SES), will begin to operate on September 1. SES acquired a shell broker-dealer and has been preparing and customizing the BD to expand its offering for SEIA advisors.

Backed by private equity firm Reverence Capital, the $18 billion SEIA was previously affiliated with Osaic, formerly known as Advisor Group, through its subsidiary Royal Alliance, according to SEIA, and SEIA will continue to work with Osaic via its turnkey asset management program.

SES is majority-owned by SEIA president and CEO Brian Holmes, according to a filing with Finra.

“Having an in-house broker-dealer elevates our advisors’ capability to provide holistic services and offerings under one roof and brings us another step closer to being a full-service firm,” said Holmes.

Bringing a broker-dealer in-house will allow SEIA advisors to offer products, such as annuities, life insurance, 529 Plans, and mutual funds, without outsourcing other companies, according to the firm.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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