Independent Qualified Fiduciary Expert
Investment Losses | Fiduciary Audits | Training | Litigation Consultant | Expert Witness
Over 30 years, Extensive Securities, Banking, Fiduciary Expert Experience Consulting, Litigation Support on Investments, Suitability, Supervision, Fiduciary duty, Valuation, AML, BSA, USA Patriot Act, SARs, Know your Customer
Branch Manager, Regional Manager, Stockbroker Compensation, Forgivable Loans, Training, Valuation & Employment
Chris McConnell & Associates was founded in 2003. Believed to be among the first independent, consulting-only practices devoted to objective audits, training and analysis of fiduciary performance. Mr. McConnell became a designated ACCREDITED INVESTMENT FIDUCIARY AUDITOR in 2003.
Over 30 years experience as expert and consultant including 19 years in the securities industry, 17 years in management, at two major Wall St. broker dealers in national, regional and branch positions.
Since 1983, Mr McConnell’s Wall St experience includes supervision of the accounting and compensation areas of a major securities primary broker dealer’s national, regional and 450 branch office, 8,500 FA private client HNW wealth management group including every product and service. He modeled one of the first principal protection 1940 Act equity investment products. Wrote the branch office Profit & Loss accounting manual and related policies and procedures applicable to domestic and foreign branches. Served on the firm’s real estate strategy executive committee, designed firm – wide business policies for commissions, fees, margin, stock loan / securities lending, rebates and money market mutual funds sweep, bank card products, rewards programs and insured deposit accounts. Analyzed profitability, costs, marketing and risks of wrap fee accounts, investment consulting services, managed accounts (proprietary, industry – first FA – managed, the first special share class mutual fund wrap fee advisory product and external third party managed), soft dollars, SEC 28 (e) and best execution. Developed compliance, surveillance and supervisory reports for customer account reviews including money laundering, AML flags. Each position or project included extensive interaction with Information Technology IT areas and leading consulting firms establishing an extensive depth of experience linking IT, firm data, internal firm profit, budget targets, sales management, back office operations, compliance, surveillance, supervision, sales practices and training and customer account performance.
Securities and insurance licenses previously held included Series 3, 4, 7, 9, 63 and 65; California Life Insurance, Annuities and Long term care insurance licenses.
Mr McConnell brings a truly unique and deep background to a limited number of engagements: 1) advanced fiduciary AIFA training, 2) over 19 years of actual hands-on major Wall St. broker dealer experience in every product and service and at every level of a broker / dealer including external, 3rd party vendors, 3) BA in Economics / Accounting, 4) Master of Business Administration, MBA and 5) successfully passed the CPA (Certified Public Accountant) exam which taken together can span the breadth and probe into the inner dynamics and data collection of a bank, credit union, financial services firm, investment adviser or securities broker dealer (or otherwise regulated and or un-regulated individual or entity) or any other legal entity connected to the financial system (such as a payments processing provider or money transfer service) from the CEO, Board of Directors, Officers of the Corporation level, related corporate governance & fiduciary duties, headquarters level through a regional office, product manager, branch office to stockbroker’s or sales trader (or a group or team’s) sales solicitation, recommendations, disclosures, monitoring and customer’s account statement performance. Frequently, identification of external third parties may be warranted for compliance, fiduciary and other industry related reviews.
Mr McConnell’s evaluations may include relevant current and historical (dating to the 1970’s) statutory, federal and state regulatory (such as but not limited to: SEC, NYSE, FINRA, NASD, NFA, CFTC, FRB, FDIC, OCC) industry rules, regulations and current and historical industry custom and practices plus federal, state and or industry records investigations.
Compensation, Employment & Valuation areas of Mr McConnell’s expertise include:
Securities, futures / commodities, registered investment adviser, financial planning, banking, custodial industry recruiting, forgivable loans, training, sales practices, compensation, compliance and disclosures expert including FINRA, (NASD), FINRA Form U-4, FINRA Form U-5, CRD, SEC, Forms ADV parts I and II, SIFMA, SIA, BMA, NYSE, CFTC, DTCC for traders, stockbrokers, financial planners, RIA’s (registered investment advisers), advisory firms, introducing brokers, clearing firms, money managers, wealth managers, portfolio managers, traders, branch managers, complex managers, regional managers, internal product coordinators, external third party product wholesalers, custodians and prime brokers.
Retention bonus, Retention awards, Forgivable loans, Promissory notes, Recruiting, Training, Sunset Retirement plans, Registered sales assistants, Reg S-P and stockbroker account book distribution. Including broker dealer, region, branch and FA – level accounting, tax analysis, supervision, design and branch, regional and firm – wide management of Forgivable Loans, Promissory notes, Taxable income, AFR and or insurance thereon since 1983 for two major Wall St securities broker / dealers.
Branch manager and regional manager compensation expert including cash, deferred, stock and options components. Mr McConnell supervised and designed branch manager and regional manager salary, bonus, other awards and emoluments paid by cash, deferred compensation, restricted stock and option awards tied to branch, product, compliance and broker / dealer and regional annual revenue budget and profitability goals.
Branch, product or service, business unit (P&L) valuation and analysis, valuation of a broker’s book, branch and regional P&L’s
Investment and Insurance product marketing, distribution; sales force and market penetration studies. Mr McConnell has over 30 years of deep and extensive experience in evaluating all elements of market segment and product analysis at firm, region, branch or adviser levels including in response to federal and state agency FTC and anti-trust inquiries.
Approved Continuing Legal Education seminar provider, California State Bar Association, “Investment Fiduciary Responsibilities for Trustees and Fiduciaries”
For more information firstname.lastname@example.org or (310) 943 – 6509
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