Cavner starts independent practice

After pleading guilty to a felony charge and separating from BancorpSouth, Springfield financial adviser Nadia Cavner announced this afternoon she is starting her own firm.

Dubbed Nadia Cavner Group, Cavner plans to open the investment services firm May 6 at 2659 E. Normandy St., Ste. 108, immediately southeast of the 2620 E. Sunshine St. BancorpSouth branch where she had practiced until this week. BancorpSouth spokesman Randy Burchfield said this morning Cavner was no longer associated with the bank.

According to a news release, Cavner's new practice will continue her relationship with Cambridge Investment Research Inc. on behalf of her clients.

"Nadia is proud to be a member of the Springfield community and appreciates the trust instilled in her by her many clients. It is because of their support that her firm is now a dream come true," the release said.

Cavner pleaded guilty April 12 to a felony interstate stalking charge, acknowledging intentions to injure, harass or intimidate her college-age daughter’s ex-boyfriend. Since, it has been unclear whether she could continue as a financial consultant with a felony charge.

According to U.S. securities regulations, a felony would statutorily disqualify Cavner from selling securities in the U.S. for 10 years. Financial Industry Regulatory Authority spokeswoman Michelle Ong has said financial advisers are obligated to report criminal actions involving felonies to securities regulators, but advisers can appeal FINRA's disqualifications. According to Ong, Cavner is obligated to disclose to FINRA both the felony charge and the plea agreement within 30 days of charges being filed or the agreement being signed, according to Springfield Business Journal archives.

Reporter Brian Brown contributed to this story.