The New Face of the Super OSJ
March 1, 2016
By Diana Britton, Wealth Management Magazine
In the late 1990s, Pete Bush was working for Cetera Advisors under an office of supervisory jurisdiction (OSJ), as was most every other independent rep paying for the privilege of having a supervisor. These offices were mandated by FINRA to more effectively distribute the oversight of an independent broker/dealer’s scattered network of affiliated reps.
Bush and a few others from the firm eventually decided it made sense to start their own OSJ; it remained small, just three partners and six advisors, and stayed that way until 2011. But to Bush it still felt like more like a burden than an efficient way to share back-office functions and compliance mandates.
“I was questioning the sanity and the financial viability of being a Super OSJ,” Bush says.
