[quote=Northfield]To the Raymond James folks, I'm looking for some guidance on the three fee-based accounts- Passport, Ambassador and MIP.
Which do you use and why? Do you tend to focus primarily on one type, or do you use multiple accounts depending on circumstances?
Thanks for the help.[/quote]
Sorry to dig up an old thread, but ranked by popularity goes: Passport, Ambassador, then MIP. For MIP, you need to have discretionary authority - which is a bit of a hurdle to jump. Passport has the lowest minimum investment but $30 trades, where as Ambassador has free trades but a minimum annual fee of $1500. Also, on the RJFS side, if your client does too many trades in it, then you will be expected to cover some costs.
[quote=IndyEDJ]Passport is the big dog and they administer their Freedom platform with it. Easy to set up and easy to use for the average broker. Downside is the $30.00 per trade fee.
What do you mean by 'administer Freedom platform with it'?