Hello all. I have a question for any and all who want to answer. I am an independent insurance agent and registered rep and I recently resigned from my B/D, because the affiliation fees were outrages this year, (IMO). What I mean by outrages is the amount of transaction per year I was completing (3) vs. the affiliation fee being charged ($2600), made no sense in continuing my relationship with the B/D. I have been a registered rep for the last 12 years, have the occassional small mutual fund transaction, but in the last 6 years I have gravitated 99% of my business towards marketing insurance products, where my securities transaction are all unsolicited and I may complete 2-3 transactions a year. Does anyone know of a B/D that allows the occassional transaction for small time securities producers without outrages affiliation fees?
No and why would they? Most broker dealers want producers not people
looking to park their license.
Maybe Investors Capital? You also might consider checking out the b/d affiliated w/ the insurance company you sell the most (if there is one)…
Check out www.hdvest.com they are pretty cheap if you do not write much business.