Quarterly report pursuant to Section 13 or 15(d)

Noncontrolling Interest

v3.7.0.1
Noncontrolling Interest
3 Months Ended
Mar. 31, 2017
Noncontrolling Interest [Abstract]  
Noncontrolling Interest
Noncontrolling Interest

Arbor Point Advisors, LLC (“APA”), a registered investment advisor, which began operations in 2013, provides investment advisory services through APA's licensed investment advisor representatives. Securities America holds an 80% interest in APA and an unaffiliated entity owns a 20% interest. Because Securities America is the controlling managing member of APA, the results of operations of APA are included in the Company's consolidated financial statements, and amounts attributable to the 20% unaffiliated investor are recorded as a noncontrolling interest.