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Grimes View Drop Down
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    Posted: Aug/13/2020 at 5:32am
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Edited by Grimes - Aug/17/2020 at 2:55pm
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PEACH_cm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 6:45am
Transition your book to fee based and go RIA
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Chico Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 7:09am
Transition your book to fee based and go RIA
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mindtech Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 8:28am
Transition your book to fee based and go RIA
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Hacksaw Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 9:12am
Why not talk to some former Jones guys that are Indy in your area about either working under their compliance, or just the pluses and minuses of going Indy and the B/D they chose?

Any firm is going to have hurdles/goals for you get get any sort of transition money, unless you are a large producer
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Wet_Blanket View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wet_Blanket Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 9:51am
Transition your book to fee based and pay me to set up your RIA
September 23, 2020

Moraen: Book it. Trump wins by a huge margin.
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Grimes View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Grimes Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 9:53am
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Edited by Grimes - Aug/17/2020 at 3:01pm
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Wet_Blanket View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wet_Blanket Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 9:55am
Originally posted by Grimes Grimes wrote:

Originally posted by Wet_Blanket Wet_Blanket wrote:

<span style=": rgb248, 248, 252;">Transition your book to fee based and pay me to set up your RIA</span>


Are you serious or is this a jab at sarcasm?

What I’m reading from everyone is to run a corporate RIA at LPL, and accept the lower transition offer.
Serious, but you don't have to hire me.

If you are under LPL's corporate RIA, then it isn't really your RIA.

Alternatively, you can put your brokerage at PKS and own your own RIA for advisory.  PKS will leave the RIA alone and not charge a haircut on your advisory business.
September 23, 2020

Moraen: Book it. Trump wins by a huge margin.
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Grimes View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Grimes Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 9:58am
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Edited by Grimes - Aug/17/2020 at 3:01pm
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PEACH_cm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 10:19am
There is ZERO reason to affiliate with a BD if you can get your book to fee based.
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memphis View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote memphis Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 10:21am
If you start your own RIA there's nothing to "take back". It's yours. You own it.

If you want to keep doing commissionable securities, I think Wet is giving you good advice.
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Grimes View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Grimes Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 10:27am
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Edited by Grimes - Aug/17/2020 at 3:01pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote missionshooter Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 10:35am
Transition your book to fee based and go RIA.

The whore money from LPL or Cetera isn't worth it.
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memphis View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote memphis Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 10:37am
Originally posted by Grimes Grimes wrote:

What are the advantages and disadvantages of running LPL’s corporate RIA over doing it myself?

Advantages to corporate:
They do compliance.
You get stuff - software, systems, etc.
They have models you can run.
You get a bonus upfront.

Disadvantages of corporate:
They do compliance.
You have to use their stuff - software, systems, etc.
They want to get paid (program fee, goes through grid, whatever).

How much control do you want to have? How many decisions do you want to make? Do you like the idea of being able to call somebody for support, or do you think support people are annoying?

I think most people here will tell you that transitioning to independence only gets harder, not easier.
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Grimes View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Grimes Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 10:47am
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Edited by Grimes - Aug/17/2020 at 3:02pm
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Mike Damone View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Mike Damone Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 11:18am
Maybe I missed it but how much of your business is commission based?  
"Sorry about the mayonnaise, guys."
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Grimes View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Grimes Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 11:54am
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Edited by Grimes - Aug/17/2020 at 2:55pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 12:01pm
Originally posted by Grimes Grimes wrote:

Originally posted by Mike Damone Mike Damone wrote:

Maybe I missed it but how much of your business is commission based?  


About 80 percent is fee based.

You moved 30% today?  It was half earlier today
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Grimes View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Grimes Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 12:04pm
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Edited by Grimes - Aug/17/2020 at 2:56pm
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advisorman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote advisorman Quote  Post ReplyReply Direct Link To This Post Posted: Aug/13/2020 at 7:02pm
If you have any JNL VA they will let you move elite access to fee based within CDSC...
King of sarcasm and speling
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