Seminar Development
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Have any of you ever developed your own seminar? We have been thinking of creating our own instead of using a canned seminar and were wondering what type of compliance hurdles you had to jump through.
Is it relatively easy to do? We are indy with a large b/d.
thanks
Easdy to develop, or easy to get through compliance? It’s easy if you know what you want to create and how to create it. Each Compliance dept is unique. My compliance doesn’t really allow outside seminars (other than vendors). But indy B/D’s obviously have to. Have you addressed it with your compliance dept?
[quote=etj4588]
Have any of you ever developed your own seminar? We have been thinking of creating our own instead of using a canned seminar and were wondering what type of compliance hurdles you had to jump through.
Is it relatively easy to do? We are indy with a large b/d.
thanks
[/quote]I have done it. Make sure you have some lead time it can take a while.
Just some background:
Mine was a powerpoint 42 slides long. Nothing too complicated(had some examples of technical indicators).
Took forever to get approved(my b/d sucks) there were revisions and then more revisions. Then you have to pay for it to get registered with FINRA. My b/d actually ate the cost on that(something stupid like $10/slide) so that saved some money. But you can use it while it is getting registered.
Is there any type of FINRA manual that gives you the do's and dont's or tells you what you're allowed to talk about and what you're not?
Basically, I don't want to waste a lot of time putting something together only to have my compliance dept. come back and say no or have FINRA say no.I would ask that same question to your compliance department. FINRA’s website is absolutely impossible for the average person to navigate.
I have a bible of FINRA advertising that my be useful. It’s huge - probably covers presentations. Don’t you only need to file with FINRA if you are discussing mutual funds?
[quote=etj4588]
Is there any type of FINRA manual that gives you the do’s and dont’s or tells you what you’re allowed to talk about and what you’re not?
Basically, I don’t want to waste a lot of time putting something together only to have my compliance dept. come back and say no or have FINRA say no.[/quote]
It’s a roll of the dice. I would run it by your compliance first. Then if they give you the ok, then make it. You can use it until FINRA says no(kinda weird) or until 1 years from approval date.
If there’s nothing promissory and there are no representations of assured outcomes - then your b/d and FINRA shouldn’t be a problem. Just have everything that is presented as fact or does show numbers notated with the source and with proper disclosures.
First step - (repeated by everyone it seems) talk to your compliance department and tell them what you want to do and what their process is. My guess is you’re looking at 6-8 weeks for your own compliance department and another 6-8 weeks if they send it to FINRA for review.
Good luck,
JW
Have you thought about contacting the wholesalers that cover you ? Many of them have FINRA approved seminars ready to go…and they may even assist with the cost of the event.
Good Luck[quote=exUBS]Have you thought about contacting the wholesalers that cover you ? Many of them have FINRA approved seminars ready to go…and they may even assist with the cost of the event.
Good Luck[/quote] Uh yeah, I've seen and reviewd about 60 different seminars - and they all suck.[quote=etj4588][quote=exUBS]Have you thought about contacting the wholesalers that cover you ? Many of them have FINRA approved seminars ready to go…and they may even assist with the cost of the event.
Good Luck[/quote] Uh yeah, I've seen and reviewd about 60 different seminars - and they all suck.[/quote] Seriously? All 60 suck? WTF are you trying to present?It’s all the standard garbage. Mutual fund companies - buy and hold, diversification, asset allocation, etc… Annuity companies - don’t outlive your money.
We're trying to tell our story about our proprietary investment system.[quote=etj4588]It’s all the standard garbage. Mutual fund companies - buy and hold, diversification, asset allocation, etc… Annuity companies - don’t outlive your money.
We're trying to tell our story about our proprietary investment system.[/quote] That sounds risky...[quote=etj4588]It’s all the standard garbage. Mutual fund companies - buy and hold, diversification, asset allocation, etc… Annuity companies - don’t outlive your money.
We're trying to tell our story about our proprietary investment system.[/quote] Be sure to include the pnuematic cannons for launching t-shirts.[quote=BerkshireBull][quote=etj4588]It’s all the standard garbage. Mutual fund companies - buy and hold, diversification, asset allocation, etc… Annuity companies - don’t outlive your money.
We're trying to tell our story about our proprietary investment system.[/quote] That sounds risky...[/quote] It is. MUHAHAHAHAH. Our motto? Go High Beta or Go Home!!