You need to go to their websites, look up some of their reps and call them.

And just out of curiosity; why not LPL, RJFS, or FiNet?

[quote=4opm]I’m going independent and trying to get information on Securities America
and Commonwealth. Any comments on either would be appreciated. [/quote] Both solid firms but platforms don’t compare to Gunnallen in Tampa.  Best Indy platform on the street and they offer twice as much business building products as anyone on the street.

AAAAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

GunnAllen?  Wow!  Aren’t they still toxic?

I have spoken with both firms, received their respective information packets

and explored both websites extensively. What I am looking for is personal

experience at each firm, current or previous.

I talked with LPL and some of the other “usual suspects” and did not feel like

they were a good fit.

Talk to Edward Jones. There you get to be a business owner without any of the hassles of being a business owner!! I hear they are recruiting quite aggressively these days.

Respectfully, NO Thank You

[quote=CIBforeveryone]Talk to Edward Jones. There you get to be a business owner without any of the hassles of being a business owner!! I hear they are recruiting quite aggressively these days.[/quote] …and they only take 60% of the profits!!!

[quote=Indyone][quote=CIBforeveryone]Talk to Edward Jones. There you get to be a business owner without any of the hassles of being a business owner!! I hear they are recruiting quite aggressively these days.[/quote] ...and they only take 60% of the profits!!![/quote]

Sixty percent of the profit--or sixty percent of the revenue?

60% of the gross commissions/revenue before other out of pocket office expenses that the IR is expected to pay.  They don’t calculate the IR’s profit; only the profitablity of the Branch.

[quote=NASD Newbie]

[quote=Indyone][quote=CIBforeveryone]Talk to Edward Jones. There you get to be a business owner without any of the hassles of being a business owner!! I hear they are recruiting quite aggressively these days.[/quote] ...and they only take 60% of the profits!!![/quote]

Sixty percent of the profit--or sixty percent of the revenue?[/quote]

My mistake...I misspoke...meant gross vs. net...

Actually for me it is closer to 63% of my GDC

Actually for me it is closer to 63% of my GDC

Back on topic, I have a friend who switched to Securities America from another firm a few years ago, I don't remember who he switched from.  He LOVES Securities America, when I was looking around he gave me a pretty good sales pitch for them.  I know a couple of other guys there who are pretty happy too, although I haven't discussed it in as much detail with them.  If I were to make another switch, Sec. Amer. would be on my short list of broker dealers to consider.

I don't know anything about your other option.

[quote=Indyone][quote=CIBforeveryone]Talk to Edward Jones. There you get to be a business owner without any of the hassles of being a business owner!! I hear they are recruiting quite aggressively these days.[/quote] ...and they only take 60% of the profits!!![/quote]

Actually, for most they take 100% of the profits!

After expenses figure on a 30% payout. I’ve been there and done that.

[quote=ezmoney] After expenses figure on a 30% payout. I’ve been there

and done that.[/quote]

I realize that most of the people on this forum have a healthy disdain

(hatred) for EJ, however I signed up for the package when I joined…do you

have anything to contribute regarding either Commonwealth or Securities

America?

Securities America is owned by Ameriprise.  I worked in the Ameriprise home office in the 1990's and I can tell you that the ownership of SA (both current and future) is a question to consider as you make your decision.  In general, I don't believe an "independent" b/d owned by a bank or insurance organization (which is essentially what you have with Ameriprise) can operate with the same focus on the independent advisor that a group like Commonwealth or LPL can.  Whether it's Wachovia's FINet division or the b/d's owned by AIG or ING, etc, their recruiters may tell you that the mother ship leaves them alone, but they are one division of many that will be treated by senior management in any way that their margins dictate. Typically  the indy b/d within these companies is not their highest margin business - the bank and insurance products are the key drivers.  The indy b/d has to fight for resources, etc with everyone else, and eventually the b/d can (and often is) sold off to some other bank or insurance company when it makes sense to management/shareholders.  Commonwealth and LPL are only in one business - serving indy advisors.  I looked hard at both and chose LPL a year ago because they're bigger, have more resources and better tech, and they clear for themselves (Commonwealth doesn't).  I went to their conferenc a month ago, and everyone I met was pretty happy.  (The fact that they raised payouts and cut some client fees didn't hurt, either.)  

Best of luck with your decision.  Independence is a little more work but a lot more fun, better life, better money (if you work!) - it's all true.