Skip navigation
Menu
Search Forums
The Advisor ForumsGeneral

Have you created a LLC for your wealth management firm?

or Register to post new content in the forum

2 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jul 10, 2011 8:22 pm

Annonomous

Joined: 2010-12-29Offline

Hi-

I have been considering forming a LLC for my wealth management activities. The asset protection benefits of the LLC structure are obvious to me, but there is something I don't understand-

If I am recieving 1099 income as a contract employee of my broker dealer, how would the LLC protect me?

The securities compensation would still be paid directly to me, rather than to the LLC entity.

What am I missing here?

Thanks,

A

Jul 13, 2011 8:25 pm

squash2

Joined: 2010-03-09Offline

Nothing...LLC won't protect you unless the income your recieve from it gets paid directly to the LLC which you can't do if you are with a broker/dealer..