Indy business model setup
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Gong Indy in about 2 months and wondered what everyone was using as an internal phone system?
There are only three of us and I was hoping the phone would ring at the front desk and our girl could direct the call to any of us. Any thoughts? Thanks in advance!I use an executive suite. Phone systems can get expensive so do not go crazy. If you are in an office building with many tennants, check with the building mgmt. Sometimes when businesses close, the bulding retains assets of lease holders who skip out. You may be able to pick up a phone system that way on the cheap.
If you want cheap but professional, consistent delivery, I highly suggest executive suite.[quote=Herman Munster]
Quick Question:
On the independent side how much does it cost you guys for health and related insurance coverage? Is there a group or association that you recommend joining to get better access to health insurance like the AICPA etc. Also, what I would expect to pay for family coverage. Currently with BC/BS and I would love to get it on my own before the jump. Assistance appreciated. [/quote] $1,187/mo ppo family of four, no pregnancy no tobacco use. 5k family deductible[quote=BlackKnight]Gong Indy in about 2 months and wondered what everyone was using as an internal phone system?
There are only three of us and I was hoping the phone would ring at the front desk and our girl could direct the call to any of us. Any thoughts? Thanks in advance![/quote]I would suggest using a hosted IP system. Packet 8 will run you about $50 per month per phone. If you go traditional lines, Panasonic makes great hardware. Also look at Nortel to see which local firm provides services. Nortel is just a hardware provider for IP phones.
Good Luck.
ash
www.FAfreedom.com - The Breakaway Experts
609-945-7100 x 101
[quote=Indyone][quote=etj4588] [quote=Indyone][quote=Sportsfreakbob]
By this summer, I hope to have everything imaged. I intend to have all eight lateral file drawers imaged and on this tiny drive.[/quote]
Hey Indy,
Does your solution satisfy LPLs compliance requirements? I know I-Docs does, but like you said it's expensive.[/quote] I don't know why it wouldn't be compliant... 1. It's on a network server and backed up offsite daily. 2. It's encrypted and password protected. 3. It's a hell of a lot more secure than paper files in locked file cabinets and they've passed on that. Frankly, I think it's a hell of a lot more secure than iDOC. I'll get my first audit on it next summer...until then, I'll be keeping all the paper files. Assuming all goes well, those paper files will then be shredded.[/quote]
Indy:
Before you go ahead and shred paper, be careful. SEC requires you have quick access to original files for two years and then offsite for 5 years. From my last audit I did with a client the regulators were OK with scanned printouts, but eventually wanted to see originals. Please speak to your attorney before you shred anything.
Good Luck
Ash
www. FAfreedom.com - The Breakaway Experts
609-945-7100 x 101
Hey BK, I SWEAR MY NAME HAS NOTHING TO DO WITH TELEPHONY AND EVERYTHING TO DO WITH THE PHONY PREACHINGS OF THE GREEN MACHINE but here goes anyway…
Go to ebay and search for "Spirit phone system". Right now for instance there is a 308/616 system with 3 phonesets that has a buy it now price of $185.00. The 308 accomodates 3 lines an something like 8 phone locations. A 616, which is merely the 308 box with an expander box on top of it, accomodates 6 lines and 12 (?) phone locations maybe. The green machine has probably 10,000 locations using this system though reportedly they will soon be upgrading phones firm wide (that should dump a s%#tload of these things on the market!) The AT&T / Lucent Spirit system is old stuff but hey, it works and it's cheap. You can hold. You can transfer. You can intercom. Heck, you can pump music on hold into the box with a simple RCA jack and an Ipod or whatever. C'mon, is anybody ever going to walk into your new indy office and comment on your fifteen year old phone technology? Never. Just buy this cheap system and use the s%#t out of it by making it dial out rather than waiting for the inbound calls. What more could you possibly need? I've got 2 of these from ebay (first bought a 308 with a couple phone sets, then a 612 plus four more phone sets) sitting in my basement right now in preparation of a move to independence. -JFIndy-
I had the same experience that Ash had. If you are an RIA and full under the state, your state may have entirely different requirements. In my state, I had to keep a file with orignial signatures. When I switched over to SEC, they didn't ask me about. The auditor was fine with electronic copy. But he did say, less than 5% of the offices he saw was paperless. Some of the older auditors may be a bit more old school and want to see hard copies.If you go to LPL be very careful if you join another advisor mike and have
them osj you tannery. If they give you 30 days notice to find another OSJ you
have to find another osj with in 30 days or you are screwed(TERMINATED). LPL is not
letting advisors go under home supervision so you either have your 24
or you find a 24 to do your compliance for you. LPL is out of the
picture. Never go into a joint number with your OSJ even if they say it
is for compliance reasons because the OSJ is just trying to get club credits and very few OSJ’s at LPL do it this way. If you come over to LPL make sure to get your 24 right away. If you fail the test they will let recruits go under home supervision. Once you are there a few tannery months you are really at the mercy of your OSJ
[quote=CALI123]Indy-
I had the same experience that Ash had. If you are an RIA and full under the state, your state may have entirely different requirements. In my state, I had to keep a file with orignial signatures. When I switched over to SEC, they didn't ask me about. The auditor was fine with electronic copy. But he did say, less than 5% of the offices he saw was paperless. Some of the older auditors may be a bit more old school and want to see hard copies.[/quote] An update on my paperless project...passed my audit with flying colors. Auditor is fine with the plan to image everything and keep original signatures in a locked basement file. Anything that is not original signature can be shredded. Encryption and password protection is key, but we showed digital images of review documents and notes and got a thumbs up.[quote=Indyone] [quote=CALI123]Indy-
I had the same experience that Ash had. If you are an RIA and full under the state, your state may have entirely different requirements. In my state, I had to keep a file with orignial signatures. When I switched over to SEC, they didn’t ask me about. The auditor was fine with electronic copy. But he did say, less than 5% of the offices he saw was paperless. Some of the older auditors may be a bit more old school and want to see hard copies.[/quote]
An update on my paperless project…passed my audit with flying colors. Auditor is fine with the plan to image everything and keep original signatures in a locked basement file. Anything that is not original signature can be shredded. Encryption and password protection is key, but we showed digital images of review documents and notes and got a thumbs up.[/quote]
RIA? State or SEC?
Or, are you referring to a branch audit for a BD of some sort?
Just curious.
C
LPL branch audit. The state passed on it back when I set it up…they acted like they didn’t even care. Of course, your state may have a very different opinion than mine did, but it seems like imaging is getting more and more accepted, particularly when you preserve original signature documents.