Redbridge Securities recently received official approval to be regulated by the Financial Industry Regulatory Authority (FINRA). The process to become registered through FINRA is both time consuming and rigorous. Prospective firms must cooperate in providing the regulator with information about the company and its team members. In the case of Redbridge, FINRA researched and analyzed the company’s management team's experience, Risk Management , compliance, and financial strength.
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Redbridge focuses on providing financial services and products to individuals and business alike. For individuals, the company appears particularly involved in creating a sustainable and proficient strategy for retirement planning and saving. Redbridge also operates to create a detailed plan to run a business efficiently, by finding the best products to offer employees, as well as assessing the financial stability of the business to create a financial roadmap to meet the goals of each company.
On its website, Redbridge specifies that its “advisors have access to the products of over 40 different companies,” thus giving them an array of tools that can be accommodated to fit the needs of the client. Moreover, the firm has “access to many cost-effective retirement, life, health and disability insurance plans.”
FINRA Takes Action
Redbridge Securities’ approval for Regulation by FINRA provides it with the validation required to increase the size of its client base. The regulator maintains high levels of compliance with rules and policies that have been put in place, demanding that “as a member firm, the company and its associates should abide by high standards of commercial honor and just and equitable principles of trade.”
FINRA has taken steps to assure the proper operation of member firms. In the summer of 2017, FINRA’s board of governors approved an initiative to tighten monitoring and control of brokers who have a questionable history in the field. The initiative was created in order to ensure that no wrongdoing was being conducted by member firms, and to hold companies responsible in the event that such activities were uncovered.
The official registration with FINRA could help to steer Redbridge forward. The company will look to increase its client base, and now it can provide them assurance regarding the legitimacy of its operations, as well as the knowledge level and expertise of its staff.
