Looking for BD advice needed
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Looking for some advice. Been in the Biz for 15yrs… out for the last year and a half. Currently working as a mortgage broker but would like to begin offering financial services to my growing list of mortgage clients. Any suggestions on a BD that would allow this type of “outside” business activity??? I’ll be starting back from scratch so it will need to be a BD that is ok with 25k -50k gross the first year… maybe less maybe more.
BenHi Ben,
When you say Mortgage business are we correct to assume mostly residentials? If I am not mistaken Wachovia may have a place for you (in fact you can do the business through them). 1031 exchanges however can be done anywhere. Not sure if that helps. I would speak with a local Wachovia brokerage office in your area however.Thanks for the reply, I am with a mortgage company now just looking for a BD to use for my investment side
I remember Quest Capital Strategies used to advertise for part-time brokers. Not sure if they still accept them. Do your own due diligence! Good luck.
Based on my past numbers I expect to be about the $150k gross per year.. not usre if that's considered part time these days.I remember Quest Capital Strategies used to advertise for part-time brokers. Not sure if they still accept them. Do your own due diligence! Good luck.
I would recommend that you find a local LPL OSJ who might have some mortgage business he could refer to you…he can be your principal and take a small override on your investment business. Maybe you’ll even share some of the big cases if he has the right specialty. That could be mutually beneficial, and LPL no longer offers mortgages so there’s a need to be served.
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