Which Independent Firm?
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I disagree. I think FiNet is the best platform and the margins they worked out for us are comparable to LPL’s. Ticket charges, admin fees, etc. Where’s the difference? I talked to a few of their business owners and they were very happy-
Check out brokersXpress
www.brokersXpress.com
Good payouts, good platform. I am hearing solid things from reps.
[quote=mplsindy]
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.
[/quote]Several of you have responded to MLPSINDY with comments on the current quality and satisfaction of company-owned indy B/Ds.
While everybody is entitled to an opinion about current quality, you’re ignoring an important point that he makes.
I believe that his key point was that the future quality and satisfaction is unknown due to the ownership of these firms. A firm that does just B/D is less likely to make future adjustments that squeeze their affiliates in return for short-term results.
It makes sense: focused firms are more likely to have their priorities straight.
By the way: none of the firms mentioned in this thread are clients of mine.