Fear of the unknown often creates the greatest resistance to change, and rightly so. Statements such as “Where do I begin?” “How long will it take?” “Will there be anyone there to help me?” “Doesn’t independent mean alone?” and “I’ve always been told I can’t do this on my own,” are very common. As practicing representatives we too shared these concerns. BFT has experienced these transitions and developed a plan to make the journey easy for you. We have the knowledge and support necessary in each of the following areas to help make that transition quickly and efficiently.
Change may not appear easy, but it can be very rewarding for both you and your clients. Today more than ever, it is important to keep pace with the industry.
TRANSITION FROM YOUR CURRENT BROKER DEALER
- Licensing and reappointment
- Client applications
- Stationary and letterhead
- Client notification
- Transition support team
TRANSITION FROM COMMISSIONS TO FEE-BASED BUSINESS
- “How to” convert your clients
- Timing-minimizing the potential loss of income
- Monthly billing
- Suitability requirements
- Client reporting
- Compliance Requirements
- Converting brokerage accounts using our transition team