Changing B/D

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Sep 9, 2006 10:07 pm

Hello all. I have a question for any and all who want to answer. I am an independent insurance agent and registered rep and I recently resigned from my B/D, because the affiliation fees were outrages this year, (IMO). What I mean by outrages is the amount of transaction per year I was completing (3) vs. the affiliation fee being charged ($2600), made no sense in continuing my relationship with the B/D. I have been a registered rep for the last 12 years, have the occassional small mutual fund transaction, but in the last 6 years I have gravitated 99% of my business towards marketing insurance products, where my securities transaction are all unsolicited and I may complete 2-3 transactions a year. Does anyone know of a B/D that allows the occassional transaction for small time securities producers without outrages affiliation fees?

Sep 9, 2006 11:59 pm

No and why would they? Most broker dealers want producers not people

looking to park their license.

Sep 11, 2006 12:00 am

Maybe Investors Capital?  You also might consider checking out the b/d affiliated w/ the insurance company you sell the most (if there is one)....

Sep 13, 2006 10:44 pm

Check out www.hdvest.com they are pretty cheap if you do not write much business.