Registered with 2 firms?

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Jan 25, 2011 1:58 am

Is it possible to be registered with two different B/Ds?  This may sound like a ridiculous question, but I know someone that I looked up on FINRA brokercheck that was registered with Edward Jones AND Merrill Lynch

How is this possible?

PS - He also got his can sell less than a year ago.  I don't think EJ would be very happy

Jan 25, 2011 10:44 am

More than likely he is in transition. That's the only time I have ever seen this. I would check back in a week or so.

Jan 27, 2011 9:11 am

It is possible, but it requires the approval of both firms.  N.D. is right in that the new firm may have processed the rep's U-4 and the old firm hasn't processed his U-5 (they have 30 days).  Dual registration happens most often when a function is outsourced (e.g. a FINOP prepares books and FOCUS reports for several smaller B/Ds).