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RIArules View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote RIArules Quote  Post ReplyReply Direct Link To This Post Posted: Aug/14/2020 at 10:46pm
Originally posted by newbieRIA newbieRIA wrote:

If you like anal sex with no lube by all means go to cetera.  They have like 3 sides to the broker dealer side.  One for institutions (banks), one for regular financial advisors, one for the CPAs that want to be adviusors.  My only experience is with Cetera financial specialist which is the cpa side.

when I first got on I was outraged at the limited managed accounts options we had.  I think it has gotten better cause I haven't been with them in a while.  At the time the only one where the advisor had some say was the MWA program. The program was .45 which is fucking nuts on top of that they weren't offering institutional share classes offered for the managed account.  They where using A shares and taking the 12b-1 for the firm.  So the realty of this was the firm was making .7 per managed account.  The funny thing the other subsidiaries of cetera broker dealer where getting charge like .35 instead. They where purposely fucking the cpas over.  They winded up getting sanctioned by finra for the 12b-1 thing. 


I bet they also looked at you as a caricature of a professional person that could possibly make more money for the firm. Now they are moving on/
Wash Your Hands and say your prayers, because Jesus and Germs are Everywhere
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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/14/2020 at 10:47pm
-

Edited by Grimes - Aug/17/2020 at 2:59pm
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helado View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote helado Quote  Post ReplyReply Direct Link To This Post Posted: Aug/15/2020 at 12:19am
Originally posted by Grimes Grimes wrote:

Originally posted by helado helado wrote:

I don't mean any offense by this man...

But you haven't brought yourself up to speed enough to know what you want.

You are the prospect that buys a 10 year indexed annuity thinking it's guaranteed to get at least 8% each year.  Or the prospect that "has mutuals in my 501."

Spend some time learning before you make a jump.  Because otherwise you're flying blind.

I spit my nightcap at reading this. Thank you, I needed a good kick in the ass.

Made calls to three other advisors that made this jump. Two recommend the corporate RIA hybrid channel from what they know of me already. One suggested not moving yet with the COVID stuff in the air.

Most future business will go advisory. These advisors tell me to keep the hybrid flexibility.

I take B24’s point well, and believe the corporate support really is needed for where I’m at. I want the training wheels off, but am not ready to speed down the road. 

Does that make sense?


Glad it helped.  But even this post...if you use the corporate RIA, you aren't considered hybrid.  If that were the case, literally every firm would be a hybrid RIA.  

Hybrid is where you own the RIA part, and you affiliate with a b/d for that part.  Two completely separate entities.  

What you're talking about is what I (and most other indies) do.  You affiliate with an LPL or a Cetera or a whomever...and you do your fee based thru their RIA, and your brokerage thru their b/d.  

Good news though...you're in the right place to learn what you need to learn so you can make the best decision for your business.

So...welcome!
My posts are for abrasive entertainment only. Nothing posted is investment, legal, tax or any type of advice, nor is anything mentioned true or even based on real events. Posts are complete fiction.
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newbieRIA View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newbieRIA Quote  Post ReplyReply Direct Link To This Post Posted: Aug/15/2020 at 12:54am
…. 





Edited by newbieRIA - Aug/15/2020 at 1:50am
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helado View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote helado Quote  Post ReplyReply Direct Link To This Post Posted: Aug/15/2020 at 1:03am
What?
My posts are for abrasive entertainment only. Nothing posted is investment, legal, tax or any type of advice, nor is anything mentioned true or even based on real events. Posts are complete fiction.
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newbieRIA View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newbieRIA Quote  Post ReplyReply Direct Link To This Post Posted: Aug/15/2020 at 1:49am
that's not directed towards you helado
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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/15/2020 at 8:03am
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Edited by Grimes - Aug/17/2020 at 2:59pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Grimes Quote  Post ReplyReply Direct Link To This Post Posted: Aug/15/2020 at 11:26pm
I appreciate the help everyone offered, and the messaging and phone conversations I’ve had the last few days.

My wife and I have to talk about this move, and I need to do months more of reading and research.

God bless.
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luvindy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote luvindy Quote  Post ReplyReply Direct Link To This Post Posted: Aug/17/2020 at 12:08am
Originally posted by Wet_Blanket Wet_Blanket wrote:

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.

I'm not sure who you are or where you came from, but take this shit to the vendor section.
8/31/12,Sportsfreak:
"If Barak wins this election, or appears to be clearly winning, we are all fucked. Market will tank big time."
Dow 13,090 S&P 1406
5/23/13 UC:Dow 20k before 20% crrectn Dow 15,322
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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/17/2020 at 12:16am
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Edited by Grimes - Aug/17/2020 at 3:00pm
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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/17/2020 at 1:04am
This board has so much information it’s putting me in overload.

Everyone has my promise I will take your help to heart.
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luvindy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote luvindy Quote  Post ReplyReply Direct Link To This Post Posted: Aug/17/2020 at 9:35am
Originally posted by Grimes Grimes wrote:

Originally posted by luvindy luvindy wrote:

Originally posted by Wet_Blanket Wet_Blanket wrote:

Originally posted by Grimes Grimes wrote:

Originally posted by Wet_Blanket Wet_Blanket wrote:

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.

I'm not sure who you are or where you came from, but take this shit to the vendor section.

What?

I was talking to this "Wet Blanket" fellow.
8/31/12,Sportsfreak:
"If Barak wins this election, or appears to be clearly winning, we are all fucked. Market will tank big time."
Dow 13,090 S&P 1406
5/23/13 UC:Dow 20k before 20% crrectn Dow 15,322
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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/17/2020 at 9:41am
Originally posted by luvindy luvindy wrote:

Originally posted by Grimes Grimes wrote:

Originally posted by luvindy luvindy wrote:

Originally posted by Wet_Blanket Wet_Blanket wrote:

Originally posted by Grimes Grimes wrote:

Originally posted by Wet_Blanket Wet_Blanket wrote:

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.

I'm not sure who you are or where you came from, but take this shit to the vendor section.

What?

I was talking to this "Wet Blanket" fellow.
If I'm blatant about it, then it is kosher.
September 23, 2020

Moraen: Book it. Trump wins by a huge margin.
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