Looking for a B/D with a Low Production Minimum for a New Rep
I recently left my B/D to form a RIA. Most of my business was fee based asset management and continues to be, but I had approximately 35K of trail commission mostly from Variable Annuity business that I had to leave behind. The clients are loyal to me and will sign change of agent forms to whomever I wish; so, I want to license a relative of mine, have them affilliate with a B/D, and transfer that production to them.
But the problem is that I can't seem to find a B/D who will take a rep with less than 50K gross production. Does anyone know of a B/D who'll take a rep producing less than 50k, or have any other suggestions.
BTW - I understand that I could become a hybrid rep and continue to collect the commissions while running my RIA, but for a multitude of reasons, I do NOT want to become a hybrid rep.