Skip navigation

Banking Needs

or Register to post new content in the forum



  • 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.
May 15, 2010 2:29 pm

Got another question. Researching going indy.  I currently work in a bank and very closely with a senior banker who has fantastc relationships with her clients.  I would like to find a BD platform that has banking, deposits, and lending capabilities associated with them.  My thoughts are using this banker as the assistant, match her salary, and therefore have her on my side bringing her book of business with her as well as mine.  Many of our clients are jointly held relationships (though she does not get paid). 

As long as I have ANY banking ability at all I have a much better shot at getting her to come over with me.

Any thoughts are greatly appreciated...


May 18, 2010 9:56 pm

Do you have a contract?  Are your relationships solid?  I would think most BDs are not that competative with Banks on banking products but, firms like RJ and LPL would have the simple stuff like checking, lending.....

May 21, 2010 3:54 am


Sounds like an interesting plan.  You'll find many clearing firms offer "banking type" services.  This field historically had been dominated by the investment banks of years past but not anymore.  It is common for bank to own independent broker/dealer firms; might consider that route but based on my experience and opinion, banks tend not to invest the funds necessary to make the B/D truly outstanding.  It's a means to and end for the bank typically to obtain profits in other avenues.

Not to toot my own horn too much but in addition to my brokerage custodian services for RIAs and Hybrid Advisors; we also have Trade-PMR Bank which provides traditional banking products in addition to Securities Backed Line of Credit.  I'm sure other custodians offer this as well (i.e. TD Ameritrade Institutional being owned by a bank, Schwab has a banking division as well) among others. 

You just have to find the right partner with the right capabilities which can help execute your business plan effectively.  Wherever you might end up; I wish you the very BEST!