First Allied anyone?

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Aug 19, 2006 9:24 am

Currently working for a major insurance broker.  Been planning a move to indy for 2 years now.  Currently comparing 3 indy's and over analyzing the decision to death. 


My top choices in order are Commonwealth, LPL and a First Allied Securities.  Anyone have an opinion on First Allied.  Seem to be an up an commer and committed to keeping up with the bigger indy's. 


My business is fee and advisory based i.e. wrap assets, sma's and planning. 


Thanks in advance.

Aug 19, 2006 9:58 am
OhioAdvisor:

Currently working for a major insurance broker.  Been planning a move to indy for 2 years now.  Currently comparing 3 indy's and over analyzing the decision to death. 


My top choices in order are Commonwealth, LPL and a First Allied Securities.  Anyone have an opinion on First Allied.  Seem to be an up an commer and committed to keeping up with the bigger indy's. 


My business is fee and advisory based i.e. wrap assets, sma's and planning. 


Thanks in advance.



We had a huge compliance problem in the Southeast.  We were waiting to fire him when he jumped ship and went to First Allied.


I think they've been around a long time.

Aug 20, 2006 8:11 pm
NASD Newbie:
OhioAdvisor:

Currently working for a major insurance broker.  Been planning a move to indy for 2 years now.  Currently comparing 3 indy's and over analyzing the decision to death. 


My top choices in order are Commonwealth, LPL and a First Allied Securities.  Anyone have an opinion on First Allied.  Seem to be an up an commer and committed to keeping up with the bigger indy's. 


My business is fee and advisory based i.e. wrap assets, sma's and planning. 


Thanks in advance.


We had a huge compliance problem in the Southeast.  We were waiting to fire him when he jumped ship and went to First Allied.


I think they've been around a long time.


for which firm are you acting as official spokeman for?????

Aug 21, 2006 12:16 am

OH Advisor, if you've done the due diligence trips to the respective firm home offices, my guess is, your decision is much clearer.  If you haven't, get off your can and get them scheduled!!!


Also read Robert Fragasso's book about starting your independent practice.  It's a wealth of information that you should have BEFORE you start planning your move.  Good luck.

Aug 21, 2006 8:13 am

There's no difference between firms like commonwealth, first allied, and most other indy's as most fees, payouts etc are the same.  What you should really been looking for is how well does each support your business model through professional services and education and breadth of choice.  Most importantly, how does each process your business.  This is paramount as an indy because the more you have to support processing your business locally v leveraging your b/d, the higher overhead and less net to your business.  It also will lead to a lower level of client service as you and your staff spend more time dealing with a back ofc that can't address your needs because they are beholden to a 3rd party clearing firm.  Make sure as you examine your choices that you focus on business processing and availabe options specific to your business.