Before you renew your registration with your current broker-dealer and begin paying all the fees associated with it — registration fees, regulatory assessments, platform fees, E&O premiums, etc., take a moment to consider your situation.
Stop and ask yourself these 5 questions:
1. Is my broker-dealer’s service level as good as it used to be?
Our response: Boutique service for every advisor.
2. Is my payout as high as it could be with another firm?
Our response: Payouts as high as 100% for 12 months.
3. Am I paying unnecessary platform fees with nothing to show for it?
4. Is my compliance department arrogant or accusatory?
5. Do I actually enjoy working with my BD?
Committing to your current broker-dealer for all of 2021 is a big decision.
Before you renew, think about what next year could look like for you if you consider a new broker-dealer for your financial practice.