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May 18, 2010 3:23 pm

I am looking for a B/D that specializes in or has access to Public & Private REIT.s that does not require a T12 or an existing book. 15 yrs previous experience but out of the business for the last year and a half. Any help would be appreciated.

May 18, 2010 6:01 pm

David Lerner

May 19, 2010 9:28 am

I hope that was a joke.

May 19, 2010 10:51 am

Well....I'm not sure where he could do that kind of business and get hired without a book.  Where would you suggest?  Beleive it or not, some guys actually like it at the Poppy Bond company .

May 19, 2010 4:57 pm

Thank you for that suggestion, I looked into it. Wont work for me but I appreciate the response.

May 20, 2010 11:47 pm

prpllc,

I think you are going to find it difficult to locate a broker-dealer firm willing to bring you on board with no recent production history.  I'm sure they do exist however, but I am not familar with whom they might be.  Considering over 5,000 B/D's exist; their has to be several who would be willing to work with you or perhaps, at the very least, have you join one of their existing OSJ branches.

You might also consider by-passing the B/D route altogether and go RIA.  I represent a firm which works with startup RIA's quite successfully as well as some other custodian firms too in the market. 

Public and Private REITs can be handled as a fee-only RIA as well as many other product types. 

Something to ponder and best of luck to you in your search.

May 24, 2010 9:09 am

Thank you Fred,

If I was to join or start an RIA, what will happen to my S7? Will I still need to find a B/D or does the RIA preserve it? 

May 31, 2010 1:02 am

series 7 lapses.  As a fee only ria, you do not need a series 7.

then again, with fiduciary duty... I doubt you would be selling much private and public reits.