Broker Dealers That Are FMO Friendly? HELP!
- Thread starter budfox7
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- #12
- 132
20k is not alot of production. You should be doing that any ways. You shouldnt be placing all of the client assets in EIA's , no more then 55% will have the regulators knocking on your door.
The reason why I do not disclose the broker on the forums is because I personally know the CEO and he does not advertise nor does he care too. He has established this firm a few decades ago and has been very successful with many branches through out the US. The thing I love about them is that the have no crazy ticket charges less then $10, no monthly fees for technology, you shop for your own E&O, and your payout is 80-90% depending on production. They pay 1-2 a month and turn over is VERY LOW. You can only get on board by invitation only and what I loved most about the deal is that they gave me a financial statement of the firm in the recruiting packet. I dont get compensated for referrals and advisor. I just think once you find out about the BD you'll thank me later.
PS. If you decided to come on board, I like Ribeyes from Ruth Chris, Elixer guitar strings, Gas cards for my cobra :@)
The reason why I do not disclose the broker on the forums is because I personally know the CEO and he does not advertise nor does he care too. He has established this firm a few decades ago and has been very successful with many branches through out the US. The thing I love about them is that the have no crazy ticket charges less then $10, no monthly fees for technology, you shop for your own E&O, and your payout is 80-90% depending on production. They pay 1-2 a month and turn over is VERY LOW. You can only get on board by invitation only and what I loved most about the deal is that they gave me a financial statement of the firm in the recruiting packet. I dont get compensated for referrals and advisor. I just think once you find out about the BD you'll thank me later.
PS. If you decided to come on board, I like Ribeyes from Ruth Chris, Elixer guitar strings, Gas cards for my cobra :@)
Bud.. Didn't I refer you over to Foresters Equity Services when you asked me about that? Who's this other one? Not that I need the info, but I would like to work with their Agents
dignitylmg
Expert
- 34
I have an option for you that is very insurance friendly and can be reached at 800-211-0017 ext 104...Chris
- Thread starter
- #15
- 132
Scott, you did and I am sure they are a great outfit. However, my bd is here locally and I just cant beat that because I can use thier office to meet clients at no expense.
dignitylmg
Expert
- 34
Hello guys, I know I can come to this site for some good feedback. I am securities licensed 7,66,63 and need a good broker dealer that allows relationships with FMO and other marketing organization. Is there a list out there that any one can supply or guidance. I am making a move quick.
Look forward to this answer, this is a MAJOR topic for me.
You can either send me your e-mail information and I will forward information or you can call me toll free 800-211-0017 ext 104...Chris
I am a recruiter.
I work for Trustmont Financial Group and Trustmont Advisory Group an Independent Broker/Dealer and SEC registered investment advisor that has been in business for 25 years.
EIA Friendly Broker/Dealer
We are EIA friendly with no minimum production requirement. At 60K in GDC your at 90% payout with potential bonues that can put you at 93% payout.
You should not ONLY be looking for an EIA friendly B/D. With all of the issues going on you should look for a firm that will also benefit you in the long run if EIA business has to be overseen by a Broker/Dealer.
Current issues: Source of Funds, Fiduciary Standards, Outside Business Activity over-site.....
I work for Trustmont Financial Group and Trustmont Advisory Group an Independent Broker/Dealer and SEC registered investment advisor that has been in business for 25 years.
EIA Friendly Broker/Dealer
We are EIA friendly with no minimum production requirement. At 60K in GDC your at 90% payout with potential bonues that can put you at 93% payout.
You should not ONLY be looking for an EIA friendly B/D. With all of the issues going on you should look for a firm that will also benefit you in the long run if EIA business has to be overseen by a Broker/Dealer.
Current issues: Source of Funds, Fiduciary Standards, Outside Business Activity over-site.....
Hi Budfox!
I'm really interested in finding out more info about the Broker/Dealer your talking about. it sounds like a great organization to be involved with. PLease PM me because i cant send PMs yet
You might want to check the dates on the posts. Budfox hasn't posted here since March.
Thanks just hoping...lol
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