First Allied to Spin Off From Advanced Equities

Independent broker/dealer First Allied Securities is reportedly discussing a spin-off from Advanced Equities, its parent company. The firm's execs, including President Adam Antoniades, are seeking control. First Allied has about 1,000 with more than $30 billion in assets, according to published reports. The San Diego-based firm would not comment on the news. The firm is currently having its annual advisor conference, a source told Registered Rep. More to come on this later...

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