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Grimes 
Greenhorns 
Joined: Aug/13/2020 Status: Offline Points: 22 |
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 Topic: QuestionsPosted: Aug/13/2020 at 5:32am |
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Edited by Grimes - Aug/17/2020 at 2:55pm |
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PEACH_cm
Senior Member 
Joined: Jan/16/2013 Status: Offline Points: 7204 |
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Posted: Aug/13/2020 at 6:45am |
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Transition your book to fee based and go RIA
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Chico
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Joined: Nov/10/2017 Status: Offline Points: 336 |
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Posted: Aug/13/2020 at 7:09am |
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Transition your book to fee based and go RIA
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mindtech
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Joined: Feb/18/2012 Location: Canada Status: Offline Points: 439 |
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Posted: Aug/13/2020 at 8:28am |
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Transition your book to fee based and go RIA
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Hacksaw
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Joined: Mar/27/2010 Status: Offline Points: 35113 |
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Posted: Aug/13/2020 at 9:12am |
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Why not talk to some former Jones guys that are Indy in your area about either working under their compliance, or just the pluses and minuses of going Indy and the B/D they chose?
Any firm is going to have hurdles/goals for you get get any sort of transition money, unless you are a large producer
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Wet_Blanket
Admin Group
Team America (not iMo) Joined: Mar/10/2010 Location: New England Status: Offline Points: 46822 |
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Posted: Aug/13/2020 at 9:51am |
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Transition your book to fee based and pay me to set up your RIA
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The true 🤡 was the Biden voter all along.
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Grimes
Greenhorns
Joined: Aug/13/2020 Status: Offline Points: 22 |
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Posted: Aug/13/2020 at 9:53am |
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Edited by Grimes - Aug/17/2020 at 3:01pm |
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Wet_Blanket
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Team America (not iMo) Joined: Mar/10/2010 Location: New England Status: Offline Points: 46822 |
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Posted: Aug/13/2020 at 9:55am |
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If you are under LPL's corporate RIA, then it isn't really your RIA. Alternatively, you can put your brokerage at PKS and own your own RIA for advisory. PKS will leave the RIA alone and not charge a haircut on your advisory business.
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The true 🤡 was the Biden voter all along.
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Grimes
Greenhorns
Joined: Aug/13/2020 Status: Offline Points: 22 |
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Posted: Aug/13/2020 at 9:58am |
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Edited by Grimes - Aug/17/2020 at 3:01pm |
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PEACH_cm
Senior Member
Joined: Jan/16/2013 Status: Offline Points: 7204 |
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Posted: Aug/13/2020 at 10:19am |
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There is ZERO reason to affiliate with a BD if you can get your book to fee based.
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memphis
Senior Member
Joined: Apr/20/2020 Status: Offline Points: 816 |
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Posted: Aug/13/2020 at 10:21am |
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If you start your own RIA there's nothing to "take back". It's yours. You own it.
If you want to keep doing commissionable securities, I think Wet is giving you good advice.
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Grimes
Greenhorns
Joined: Aug/13/2020 Status: Offline Points: 22 |
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Posted: Aug/13/2020 at 10:27am |
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Edited by Grimes - Aug/17/2020 at 3:01pm |
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missionshooter
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Joined: Feb/12/2014 Status: Offline Points: 6334 |
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Posted: Aug/13/2020 at 10:35am |
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Transition your book to fee based and go RIA.
The whore money from LPL or Cetera isn't worth it. |
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memphis
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Joined: Apr/20/2020 Status: Offline Points: 816 |
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Posted: Aug/13/2020 at 10:37am |
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Advantages to corporate: They do compliance. You get stuff - software, systems, etc. They have models you can run. You get a bonus upfront. Disadvantages of corporate: They do compliance. You have to use their stuff - software, systems, etc. They want to get paid (program fee, goes through grid, whatever). How much control do you want to have? How many decisions do you want to make? Do you like the idea of being able to call somebody for support, or do you think support people are annoying? I think most people here will tell you that transitioning to independence only gets harder, not easier.
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Grimes
Greenhorns
Joined: Aug/13/2020 Status: Offline Points: 22 |
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Posted: Aug/13/2020 at 10:47am |
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Edited by Grimes - Aug/17/2020 at 3:02pm |
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Mike Damone
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Joined: Mar/15/2010 Status: Offline Points: 6544 |
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Posted: Aug/13/2020 at 11:18am |
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Maybe I missed it but how much of your business is commission based?
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Grimes
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Joined: Aug/13/2020 Status: Offline Points: 22 |
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Posted: Aug/13/2020 at 11:54am |
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Edited by Grimes - Aug/17/2020 at 2:55pm |
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Guests
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Posted: Aug/13/2020 at 12:01pm |
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You moved 30% today? It was half earlier today
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Grimes
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Joined: Aug/13/2020 Status: Offline Points: 22 |
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Posted: Aug/13/2020 at 12:04pm |
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Edited by Grimes - Aug/17/2020 at 2:56pm |
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advisorman
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Joined: Oct/22/2011 Location: Behind you Status: Offline Points: 4305 |
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Posted: Aug/13/2020 at 7:02pm |
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If you have any JNL VA they will let you move elite access to fee based within CDSC...
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King of sarcasm and speling
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Grimes wrote: