Life+health Agent and Series 7 Broker at Two Different Firms

allstock

New Member
18
I'm not sure if I worded the title correctly, I am looking into the possibility of being staying as an agent at the firm that I'm with. However, due to regulatory issues there I am limited on the securities products/transactions at the firm that I'm with. Is it possible to have be an agent and an advisor at two separate institutions? Nothing binding in my contract in that regard.

I respect the independent agency that I'm with and want to stay to develop my insurance business, but also want to broaden my client scope of retirement preparations as well that of my business.

I'd like to avoid this being a product war and purely stay within the context of business affiliation. So if you ladies and gentleman can give me your two cents of experience and knowledge, I'd greatly appreciate it.

Thank you in advance
 
Depends on the agency's broker dealer where your licenses are currently registered. After all, you have to answer the LEGAL question: Who is going to get the complaint about your activities if/when a complaint comes up?

Being registered with multiple B/Ds can be done... but not sure it's worth the hassle. Could you imagine getting materials pre-approved and having to put both B/D disclosures on them?

You'll have to look at your current B/D definitions on conflicts of interest and talk to your compliance officer about your concerns.


Have you considered joining an existing RIA firm that can offer these products on a fee-for-service basis?
 
Having 2 B/D probably ain't gonna fly. You could however, switch B/D's for your securities products and stay affiliated with your current company for their insurance products. Keep in mind some B/D's regulate what you can and can't sell on the ins side as well so do your homework.
 
Depends on the agency's broker dealer where your licenses are currently registered. After all, you have to answer the LEGAL question: Who is going to get the complaint about your activities if/when a complaint comes up?

Being registered with multiple B/Ds can be done... but not sure it's worth the hassle. Could you imagine getting materials pre-approved and having to put both B/D disclosures on them?

You'll have to look at your current B/D definitions on conflicts of interest and talk to your compliance officer about your concerns.

Have you considered joining an existing RIA firm that can offer these products on a fee-for-service basis?

Not to mention get your OBA approved y the B/D.
 
Back
Top