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?
Yes, Yes, and Yes. You just need to be dually (sp.?) registered as an RIA and RRep.
[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.[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?
[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.b-rad:
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.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?