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Channel change (one enterprise)

2 advisors moved from C•••••• S••••• • C••• I••• to T• A••••••••• I•••

Not a lift-out: both firms report The C•••••• S••••• Corporation as a 75%+ owner on Schedule A around the move, so the two CRDs are one enterprise and nobody left anyone. A channel switch, an integration after an acquisition or an affiliate transfer. Never counted as a team in or out.

national BDtono RAUMOtherderived from registration dates
Members
AdvisorBranchLeftRegistered
Matthew Charles SanchezNewport Beach, CaFeb 10, 2016Feb 8, 2016
Andrew Roy PughSan Diego, CaFeb 16, 2016Feb 22, 2016
The rule
Registrations ended
Feb 10, 2016 to Feb 16, 2016
Registered next
Feb 8, 2016 to Feb 22, 2016
Branch state
CA
Cities
2, most in Newport Beach, Ca
Registered there that day
1,849 (people still on IAPD; an estimate)
Share of that headcount
0.1%
One enterprise because
both firms report The C•••••• S••••• Corporation as a 75%+ owner on Schedule A around the move
Succession by the destination
none on the tape

A team is two or more advisors whose registrations through one firm ended within fourteen days of each other, from branches in the same state, all registering next through the same other firm. The kind is a printed rule, not a judgment: absorbed when half or more of the firm’s registered people moved or a succession names it, channel change when the two CRDs are one enterprise (same name, same 75%+ owner around the move, or one name the other with a word added), large transfer at fifty or more, lift-out otherwise.