- Staff
- #1
- 1,571
Question for all you registered reps out there. How does E&O work for an RIA, do you need to take the E&O offered by your Broker Dealer or can you choose your own?
If you need to take the E&O offered by the BD, do they cover you with a specific limit, or are you limited to the aggregate of a master policy?
Also, if you were with a BD for a while and then switch to a new BD or even let your license drop, can you port the first BD's E&O policy with you, or does it end when you leave their employ?
Does the E&O cover you first if you have a dispute over facts with the Bd or is it a master policy and their loyalty is to the BD first?
Does it pay to buy your own E&O to supplement theirs and to have something portable or is that just a waste?
Thanks
If you need to take the E&O offered by the BD, do they cover you with a specific limit, or are you limited to the aggregate of a master policy?
Also, if you were with a BD for a while and then switch to a new BD or even let your license drop, can you port the first BD's E&O policy with you, or does it end when you leave their employ?
Does the E&O cover you first if you have a dispute over facts with the Bd or is it a master policy and their loyalty is to the BD first?
Does it pay to buy your own E&O to supplement theirs and to have something portable or is that just a waste?
Thanks