Credit question..wire to indie

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Mar 26, 2009 8:52 pm

i am talking to currently at large wire...have been put in penalty box....i need a recruiter or someone credit rating is.....low to say the bankruptcy...but credit cards....says been wrote off...but i am really paying up...just way behind....i have good history otherwise...paid off home...current on cars...etc.  .. no marks on finra.....

does anyone know.....will indi firm reject....for bad credit rating.... much  ...
Mar 26, 2009 10:20 pm

It varies by B/D, but they worry more about regulatory items, terminations, and internal investigations. Who are you thinking about affiliating with? Myself and the other members on this forum can all tell you what we know about them and what they look for.

Mar 26, 2009 10:27 pm

thanks for your help…i have no bankruptcy or reg prob. at all…a couple advisors in my branch are…talking to…LPL,RAYJ,ING

Mar 27, 2009 9:22 am

We take it on a case by case basis. It really just comes down to a business decision for the firm. We are a privately held firm so we are able really base it on the individual. If you have no regulatory dings then that definitely helps. If you would like more information about us you can PM me.

Mar 27, 2009 9:33 am

[quote=bdlink]i am talking to indie…am currently at large wire…have been put in penalty box…i need a recruiter or someone …to answer…my credit rating is…low to say the least…no bankruptcy…but credit cards…says been wrote off…but i am really paying up…just way behind…i have good history otherwise…paid off home…current on cars…etc.  … no marks on finra…

  does anyone know.....will indi firm reject....for bad credit rating.... much  ...[/quote]

Why don''t you think about opening your own firm with the other advisors.  Even better is the each of you could register as separate RIAs and share office and assistant.  Joining a firm is not necessary and the large custodians have so much support that it is unbelievable. 

An alternative is that we also have an RIA that you can join.  But we consider this a temporary home.  In about a couple of year we will help you setup your own RIA and we are friendly about it.  Secondly we put in writing that your clinets are your property.  We beleive each advisor can and should own thier own RIA. 

Call me as I am sure you have a lot of questions on each of these models.

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Mar 27, 2009 9:34 am

Hit send by mistake…

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cell: 609-462-5756