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IARS’ Announcements

  • Cosgrove Law Group, LLC Broker Client Settles with Former Attorney

    November, 2014 – Cosgrove Law Group, LLC recently settled a federal breach of fiduciary case on behalf of one of its broker clients.  The settlement included a payment of over $600,000 to the broker.  The broker sued an attorney that his former broker-dealer hired to represent him in a state securities investigation.  That same attorney proceeded to defend the broker-dealer against the broker’s tortious interference claim in a FINRA arbitration that dealt directly with the subject matter of the prior investigation.  The parties to the settlement are and will remain confidential.

  • Cosgrove Law Group, LLC Scores Another U-5 Upset

    December, 2014 – Within 48 months of collecting a $3.3 million dollar U-5 defamation Award in Louisville, KY, David B. Cosgrove of Cosgrove Law Group, LLC netted a $600,000 Award in Baltimore, MD.  Beyond the compensation, the Award included full expungement for three different defamatory disclosures on U-5 and U-4 filings.  The Cosgrove Law group team traveled to Baltimore and Washington, D.C. for three different sessions on behalf of a former Raymond James Financial broker. Raymond James’ final pre-hearing offer was only $75,000.  According to the broker: “My business attorney suggested that I reach out to Mr. Cosgrove because he felt my case needed someone who truly specialized in the financial industry and matters involving former broker-dealers.  We were thrilled with the outcome and feel it was a complete victory and success…and we attribute much of that success to Mr. Cosgrove and his team. Thanks to Mr. Cosgrove and his team, the outcome was more than we could ever dream of.”

  • The Syndicate in the News

    Industry Experts Form The Investment Adviser Rep Syndicate
    Grass Roots Organization Helps Investment Adviser Representatives

    PR Newswire
    ST. LOUIS, March 18, 2014
    ST. LOUIS, March 18, 2014 /PRNewswire/ — The Investment Adviser Rep Syndicate (The Syndicate) is a new and unique collaborative grass roots organization dedicated to the interests of investment adviser representatives. This national organization was formed to address the compliance, legal, and business development interests of Investment Adviser Representatives (IARs) and small- to mid-size Registered Investment Advisers (RIAs). The Syndicate provides financial advisers and RIAs with a member-driven platform to provide the most effective tools for its members. The Syndicate also provides education and information on regulatory compliance and business development.

    “There was a missing link for Investment Adviser Representatives,” commented David B. Cosgrove when asked about why he founded this new organization. “The Investment Adviser Rep Syndicate helps IARs become even better financial advisers by providing them with the resources they need to take their business to the next level.”

    The Syndicate was founded in 2013 by David B. Cosgrove, Managing Member of Cosgrove Law Group, LLC and former securities industry regulator. Based in St. Louis, MO, the Cosgrove Law Group represents various individuals and entities in the financial services industry throughout the United States. Mr. Cosgrove serves as President of The Syndicate. Other officers include: Kurt J. Schafers, Vice-President and an attorney representing investment advisers; Mary E. Hodges, Secretary; and Sheila R. Carroll, Treasurer and former securities industry regulator.

    Membership fees in The Syndicate are temporarily discounted until April 1, 2014 and include:

    Access to The Syndicate’s valuable online chat forum where members can chat with other members and Syndicate staff
    Access to discounted legal services, if needed, through Cosgrove Law Group, LLC
    E-mail updates, including relevant articles and updates for industry professionals
    Special pricing for event registration
    Early bird invitations to events
    Access to member-only events
    Referral reward (Refer 10 people who are approved for membership and your annual
    membership will be at no cost)
    Annual Membership = $245 Biannual Membership = $465

    To apply for membership, please complete the membership application form on The Syndicate’s website. Payment is accepted via check and through PayPal. To register for a conference or for any membership or conference questions, please e-mail The Syndicate at:

    Follow The Syndicate on Twitter @IARSyndicate and on Linkedln.

    Read more news from The Investment Adviser Rep Syndicate.

    FOR MORE INFORMATION: David Cosgrove
    (314) 563-2499

    SOURCE Investment Adviser Rep Syndicate

  • The Syndicate to Sponsor IMCA Conference in Chicago

    February 28, 2014 - The Investment Adviser Rep Syndicate (“the Syndicate”) will be sponsoring the Investment Management Consultants Associations’ (“IMCA”) conference in Chicago next week.  As part of that honor, David B. Cosgrove, President of the Syndicate and founding Member of the Cosgrove Law Group, will be introducing The Wharton School’s Craig MacKinlay and Pinnacle Advisory Group’s Director of Research, Michael Kitces.

    The Syndicate is a new and unique collaborative grass-roots organization founded on the compliance, legal, and business development interests of investment adviser representatives and small to mid-size RIA’s.  The Cosgrove Law Group represents various individuals and entities in the financial services industry throughout the nation.  IMCA delivers investment consulting and wealth management credentials as well as various educational offerings.

  • Client Communication
    February, 2014 – Are you looking to improve communication with your clients?  Check out this article by Les Abromovitz, which offers insight into client communication and miscommunication.  The article is a quick read and offers insightful tips that will help you more effectively communicate with your most valuable asset – your clients!


  • David Cosgrove Is Interviewed By National Adviser Magazine

    February 14, 2014 – David Cosgrove was interviewed by IA Watch this week for the February 17, 2014 issue of IA Week.  David discussed an ongoing Cosgrove Law Group matter regarding an investment adviser representative who brought a FINRA arbitration against his former registered investment adviser (Questar Asset Management).  The IAR is now suing his ex-lawyer who represented both him and the RIA in a regulatory investigation.  The RIA subsequently terminated the rep. and the same lawyer defended the terminating RIA against his former client (the rep.) who brought a claim over the termination. The same lawyer also represented the same RIA’s BD (QCC) in an arbitration for another rep QAM/QCC terminated in the same incident. Cosgrove Law Group garnered that rep. an arbitration award of close to $3.5 million.  Read “Rep who took on his former firm and won sets his sights on his ex-lawyer” here: February 17 issue of IA Week Online

  • The Syndicate Interviews the Chair of NASAA’s Investment Adviser Section

    February, 2014 - Earlier this month, The Investment Adviser Rep Syndicate interviewed Ms. Patricia Struck, Chair-Person of the Investment Adviser Section for the North American Securities Administrators Association (NASAA) and the Administrator of the Division of Securities of the Wisconsin Department of Financial Institutions.  The interview, relevant to state and SEC registered Investment Adviser Representatives and Registered Investment Advisers, includes recent topics of interest to IARs and RIAs, the migration of RIAs pursuant to the Dodd-Frank Act, and information about the NASAA Investment Advisor Section itself.  You can read the full interview HERE.

  • Common Investment Adviser Deficiencies During Regulatory Audits

    February 6, 2014 – According to NASAA (the North American Securities Administrator’s Association), their members performed over 1,000 audits of Investment Advisers in the first six months of 2013, resulting in over 6,000 deficiencies! The Syndicate, in its effort to proactively assist its members and provide education on business and regulatory matters, would like to direct your attention to an information website provided by the Missouri Securities Division for RIA’s and IAR’s. The website provides information about common deficiencies and how to avoid them and can be found here.  Having private counsel available by phone or in person during the audit and reviewing key information provided in the pre-audit packets regulators provide for most not-for-cause audits is also wise.  Audits can be stressful and time consuming, but being prepared will play a big role in reducing the stress and helping you reduce the potential number of deficiencies.

  • A Webcast Teaching Communication Practices to Grow Your Business

    January 30, 2014 - ThinkAdvisor is hosting a webcast on February 13, 2014 at 2:00 p.m. EST focused on advisor success. The webcast is complimentary and is the third webcast in ThinkAdvisor’s series to provide advisors with proven and helpful tools to develop and strengthen client relationships.

    Visit for more details and to register.

  • 2014 NASAA Public Policy Conference

    January 29, 2014 – NASAA has announced that registration for their 2014 Public Policy Conference is now open.  The conference will be held in Washington, DC on April 8, 2014. David Cosgrove has been going to his conference for years, both as a regulator and as a private attorney.  The conference provides IARs with a great opportunity to interface with regulators on critical policy issues such as the prospect of FINRA becoming the regulator of the investment advisory community. Consider attending the conference for an in-depth look at some key public policy issues facing the investment industry and a networking opportunity. For more information, go to: www

  • Report: Regulation of Investment Advisers by the SEC

    January, 2014 – This Announcement is to remind our readers and Members of a relevant report issued by the U.S. Securities and Exchange Commission regarding the Regulation of Investment Advisers.  [SEC Report - Regulation of IAR's - 3.2013]

  • Annual Conference

    The Investment Adviser Rep Syndicate currently intends to hold its first annual conference in Saint Louis in August of 2014. Please check this site intermittently for additional announcements and the opportunity to register.