Have you created a LLC for your wealth management firm?

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Jul 10, 2011 4:22 pm

Hi-

I have been considering forming a LLC for my wealth management activities. The asset protection benefits of the LLC structure are obvious to me, but there is something I don't understand-

If I am recieving 1099 income as a contract employee of my broker dealer, how would the LLC protect me?

The securities compensation would still be paid directly to me, rather than to the LLC entity.

What am I missing here?

Thanks,

A

Jul 13, 2011 4:25 pm

Nothing...LLC won't protect you unless the income your recieve from it gets paid directly to the LLC which you can't do if you are with a broker/dealer..