MetLife Inc. has agreed to sell broker-dealer affiliates Tower Square Securities and Walnut Street Securities to Cetera Financial Group, reports Bloomberg Businessweek.

 

FINRA and the SEC took disciplinary actions last year against chief compliance officers at broker-dealers and investors advisors for a wide range of issues, including anti-money laundering deficiencies, false representations to staff, failure to supervise, and causing primary violations.

Among respondents to a Fidelity Investment survey, 90% of investors who used advisors during the 2008 financial crisis said the professionals were helpful, reports Financial Advisor.