Securities America & LPL

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May 6, 2007 7:39 pm

I am currently with a small financial planning firm/broker dealer.  I have been here for almost four years and have become more and more frustrated with the lack of technology/inferior technology my firm offers.  Over the past few months I have been giving serious thought about making a switch.

In my investigations, I have narrowed the list to two potential new homes -- Securities America and Linsco/Private Ledger.  I have gotten information from both, but I do not currently know personally anyone affiliated with either.  I would appreciate any first hand knowledge.  I am looking for both the good and the bad regarding both.  Candid responses are greatly appreciated.  I look forward to your posts.

May 7, 2007 2:07 pm rica+&SM=3&SI=PT&FM=0&OB=1

That's from the search button.  There's tons more info here on LPL...too much to list.

May 7, 2007 3:50 pm

hatest - what's your business model/mix like? 

One question I would start with from that is for each firm to demonstrate what it takes to do that type of business - how do you open such an account, process the paperwork, deposit the funds, conduct trades, see when ACATs come in or where they sit. 

Then consider your business model and the firm's perspective on that model, both now and their thoughts on the future for that.  You will be able to tell when/who is BS you on that. 

What's important to you in a b/d and how does each fit into this? 

Just a couple thoughts!

May 7, 2007 6:40 pm

There is a total loser on financial-planning dot com that is with Securities America. Apparantly, their standards are quite low.