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Jun 9, 2005 5:53 pm

Anyone know anything about firms integrating fee based practice with CPA practice. I am currently RR with wirehouse, but do not like the fit with my cpa practice. Would like to embrace fee based/some commission based business that could grow slowly. My take is that the majority of firms want mega production...NOW or else!


Jun 13, 2005 7:11 pm

If you’re a CPA, and depending on your state, CPA firms can partner with a B/D and share in fee-based business.

Jun 13, 2005 7:29 pm

There are several indy BDs that will let a rep maintain a CPA and just keep those fees separate of the BD.

Jun 14, 2005 7:55 pm

We have several CPA firms in our area that have set up an affiliated
registered investment advisor business and negotiated fee-sharing
arrangements with local RIAs who actually manage the money.  The
CPA firms typically get from 25-40% of the RIA’s client billings. 

It costs several thousand dollars for the CPAs to get the RIA up and
running, and there are compliance and disclosure rules to follow, but
this seems to work pretty well.  As Kargon stated, whether it’s
allowed will depend upon the laws of your particular state.

Jun 15, 2005 2:51 am

Call First Global in Dallas. Their founder is Tony Batman, who is well regarded in the industry. They're very professional with excellent technology and back office support. Gotta say I've never called on one of their reps that wasn't satisfied with their arrangement.

Good luck.