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Sep 2, 2009 5:57 pm

Is anyone familiar with Packerland Brokerage Services? I am considering a move, giving up the commission business on investments and affiliating with an RIA to do strictly fee business on the investment side (continuing to do commissioned insurance business). I have been talking with a few local indy RIA firms, but PBS popped on my radar screen.

Anyway, does anyone know if PBS would take me as a IAR only (without requiring me to be a RR on the commission side)? And if so, does anyone have any experience with them in that capacity, in terms of operational freedom, etc? How intrusive would they be?

Sep 2, 2009 6:38 pm

Did you pull up their adv? Looks like they got in trouble in 2000 and don’t seem to have a large asset base for being in the business that long.

Sep 2, 2009 10:33 pm

I looked at that right after I posted. Yes, $8.9million AUM? That’s it? That is small. It looks like the trouble they got into was on the b/d side of things if I am reading it correctly and it didn’t appear all that serious–some sort of supervision issue.

I was hoping someone could shine some light on something for me…I am currently a RR and an IAR for one of the indy b/d’s. As I understand it, regulation and oversight for b/d activities (series 6/7 business) comes from FINRA, while regulation and oversight for RIA activities (series 65 business) comes from the SEC (or the state regulators). Is this correct? Given that a firm like PBS is a b/d and an RIA, does FINRA have any regulatory role in the RIA operations?

Sep 3, 2009 2:34 am

Why are you just looking at them… Try TradePMR,

Sep 8, 2009 8:32 pm

  ThirdJoker    I sent you a private message on this topic.