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Fee based vs commission

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Dec 16, 2008 9:16 am

can anyone tell me if there are financial planners that offer both fee based planning and also sell funds annuities etc for commissions? Is this allowed? If so is it common? 

Dec 16, 2008 2:07 pm

Yes, Yes, and Yes.  You just need to be dually (sp.?) registered as an RIA and RRep.

Dec 16, 2008 3:30 pm

Am doing it right now and yes you have to be daully licensed.  I hold 7 and 65. 

Dec 16, 2008 4:33 pm

Yeah ICE is right.

Dec 16, 2008 6:40 pm

[quote=iceco1d]dually licensed as a reg. rep and an IAR, not RIA

  Either 7/66 or 7/63/65.[/quote]   You COULD be an RIA.  But yes, you must (at minimum) be an IAR under someone elses RIA.
Dec 17, 2008 11:29 am

[quote=iceco1d]

even if you were the ria, the human being would still be the iar, a rep of the ria. 

[/quote]

There are human beings in this business? 


Dec 17, 2008 4:38 pm

[quote=iceco1d]dually licensed as a reg. rep and an IAR, not RIA

  Either 7/66 or 7/63/65.[/quote]   Or 7/63/66. (The route most "veteran" Jonesers took.)   Don't take the 65 if you don't have to.
Dec 17, 2008 4:59 pm
b-rad:

can anyone tell me if there are financial planners that offer both fee based planning and also sell funds annuities etc for commissions? Is this allowed? If so is it common? 

  From those I speak to, I believe this is common.  I, for one, do it this way and I wouldn't change a thing about it.   Estate atty's and CPA's, as well as prospects, usually ask how do your fees work?   I say, it's based on asset size, but whenever possible, we let the client choose how they want to pay us.  We want as little to come out of their pockets as possible.