Even if the firm gets to reassign your accounts at your death, there is a way to compensate your family for your hard work.  You can set up an informal buy-sell agreement and fund it with life insurance.  Or, put another way, buy a life insurance policy equal to the amount your book is valued at.  So even if your clients get moved to a different rep, your family will benefit from your hard work.

Assuming that a proper contract is in place at the time of your death, your unlisenced wife or other benificiary may be compensated for business on the books at the time of your death (including additions to those accounts after your death) for as long as the business remains on the books.  This has been the rule for a few years, just not discussed much, something most firms don't want you to know!

AG Edwards used to have a standard agreement in place for anyone w/ T-12 over $350K.  If you died, your spouse would get the same payout that you would have gotten if you retired and sold your book to another broker (usually around 100%, depending on your production).  The inheriting brokers would pay it to your spouse out of thier gross.  Wachovia continued the practice for a year after the merger until Wells bought them.  The benevolent Wells people replaced it with the ability to purchase extra term life insurance.  Very nice.

[quote=CommonSense]

AG Edwards used to have a standard agreement in place for anyone w/ T-12 over $350K.  If you died, your spouse would get the same payout that you would have gotten if you retired and sold your book to another broker (usually around 100%, depending on your production).  The inheriting brokers would pay it to your spouse out of thier gross.  Wachovia continued the practice for a year after the merger until Wells bought them.  The benevolent Wells people replaced it with the ability to purchase extra term life insurance.  Very nice.

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That's what real business owners must do to protect their business.  Get over yourself.