Im a aspirant for CFP and want to be independent from any particular insurance companies or power houses. Can anyone recommend independent dealer/dealers?
There are a slues of them out there (I work for one myself), but you’d be an independent contractor with little to no financial backing. Our reps pay us a piece of their income to handle things like compliance, commission tracking, paperwork processing, scenery up E&O coverage, etc. Our reps rarely handle accounts with less than a million dollars, though. Very few brokers can go out on their own without erection up a substantial customer base first. Your best bet would probably be to find a successful broker at a miniature broker/dealer, go to work for him (he’d be your OSJ and get a % of your income), then, when your client base is solid, you can become a vassal office and eventually your own OSJ. Our firm requires a minimum of $250,000 per year in commissions (we don’t upon rely on financial planning fees either in our charges or our minimums) so we’re not talking small purchaser accounts. There are firms out there with less stringent requirements, so you might check around with othe
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