Changing Broker/Dealers – Your Checklist

As you begin the process of changing broker/dealers to suit your professional standards and unique business style, you must be diligent in your information gathering and careful evaluation. The following checklist can help you compare SII Investments, Inc. with other broker/dealers you may be considering as you contemplate all the details of changing broker/dealers.

Questions to consider as you're changing broker/dealers. Does the brokerage firm...

Q. Does the broker/dealer...

SII Other
B/D

INDEPENDENCE

SII Other B/D Permit you to own your own book of business?
SII Other B/D Enable you to operate under its name or choose your own DBA name?
SII Other B/D Allow you to solicit non-proprietary products?
SII Other B/D Give you the flexibility to choose your own financial business model?
SII Other B/D Offer you the freedom to create a customized practice management solution?

STABILITY

SII Other B/D Exemplify a fiscally sound track record?
SII Other B/D Have the support and financial backing of a strong parent company?
SII Other B/D Offer clearing services through a renowned brokerage firm?
SII Other B/D Possess over 40 years of experience in the financial services industry?

SERVICE

SII Other B/D Provide a toll-free support line?
SII Other B/D Employ friendly and knowledgeable service professionals?
SII Other B/D Boast an average on-hold time of less than 10 seconds?
SII Other B/D Abide by strong, Midwestern ethics?
SII Other B/D Allow direct access to key decision makers in the broker/dealer network?
SII Other B/D Invite you to provide suggestions that are directly incorporated into brokerage firm procedures and technology?

FINANCIAL SUPPORT

SII Other B/D Provide a 2.5% receipt-backed transition allowance?
SII Other B/D Offer payouts up to 95%?
SII Other B/D Give you the ability to express commissions to pay yourself on demand up to 4 times per month?
SII Other B/D Provide a deferred commission plan with the potential for matching contributions?
SII Other B/D Offer practice acquisition or expansion loans?
SII Other B/D Have a representative referral bonus program?

PRODUCTS

SII Other B/D Offer load, no-load and load-waived mutual fund options?
SII Other B/D Enable you to provide 529 college savings plans?
SII Other B/D Allow you to manage corporate retirement plans?
SII Other B/D Empower you to offer clients health savings accounts?
SII Other B/D Provide access to fixed, fixed indexed, and variable annuities?
SII Other B/D Offer fixed and variable life products?
SII Other B/D Allow you to solicit alternative investments, Direct Participation Programs, Real Estate Investment Trusts, hedge funds, private placements, and structured products?
SII Other B/D Provide the ability to conduct fixed income transactions, like Unit Investment Trusts, CDs, municipal bonds, and more?
SII Other B/D Offer a wealth of brokerage services, including Automated Customer Account Transfers, IRAs, IRA checking, stocks, bonds, trusts, options, 403(b)s, donor-advised funds, and more?

INVESTMENT ADVISORY

SII Other B/D Allow you to get paid for financial consulting services to your investment clients?
SII Other B/D Enable you to act as asset gatherer and/or asset manager?
SII Other B/D Ask you to affiliate under its Registered Investment Advisor or give you the ability to use your own RIA?
SII Other B/D Offer a variety of Third Party Asset Managers?
SII Other B/D Coach you on transitioning from commission- to fee-based business?
SII Other B/D Draft and amend your ADV?
SII Other B/D Prepare agreements, performance reports and disclosure brochures?

INVESTMENT MANAGEMENT TECHNOLOGY

SII Other B/D Offer a paperless online order entry system?
SII Other B/D Allow you to electronically submit required documents for approval?
SII Other B/D Empower you to ask your clients to electronically sign multiple account applications and disclosures all at once?
SII Other B/D Enable you to archive copies of electronically signed forms and eliminate the need to store hard copies in-house or offsite?
SII Other B/D Encourage you to electronically place paper-free direct mutual fund trades?
SII Other B/D Permit access to its online order entry technology from any place at any time via an Internet connection?
SII Other B/D Link variable annuities to client brokerage statements?
SII Other B/D Allow you to manage your commissions online?
SII Other B/D Provide complimentary email accounts for your entire office?
SII Other B/D Offer model portfolios with asset specific recommendations?
SII Other B/D Include access to powerful annuity and mutual fund research tools?
SII Other B/D Extend online account access to your financial clients?
SII Other B/D Provide the flexibility you need to create your own office technology suite?

FINANCIAL MARKETING

SII Other B/D Deliver access to integrated client relationship management systems?
SII Other B/D Offer professionally printed materials that can be customized with your contact information?
SII Other B/D Provide access to renowned providers of websites, newsletters, seminars, client communication and branding services?
SII Other B/D Enable you to purchase quality promotional merchandise imprinted with the SII Investment’s logo or customize it with your DBA logo to help you leave a lasting impression with your clients?
SII Other B/D Send you an internal newsletter, complete with proven marketing strategies for financial businesses and best practices from fellow registered representatives?

CHANGING BROKER/DEALER TRANSITION

SII Other B/D Assign you to a dedicated transition support team?
SII Other B/D Counsel you on how to prepare your financial practice for the conversion?
SII Other B/D Provide a plan of action, complete with a detailed timeline and checklist of items you’ll accomplish with your broker/dealer?
SII Other B/D Ensure efficient account transfers by working with your current broker/dealer, clearing firm and product companies?
SII Other B/D Coordinate the moving of your licenses to coincide closely with the transfer of your accounts?
SII Other B/D Audit your paperwork for accuracy to promote prompt processing and turnaround?
SII Other B/D Offer complimentary, compliance-approved client brochures explaining your new relationship with the firm?
SII Other B/D Obtain approval of your new business cards, stationery, letters and other client materials?
SII Other B/D Provide training and orientation to help you become familiar with new policies and procedures?
SII Other B/D Furnish an all-inclusive startup package, including instructions for processing business with the firm?
SII Other B/D Deliver in-depth order entry technology training delivered by a program specialist?
SII Other B/D Offer brokerage services and technology training by a brokerage specialist?
SII Other B/D Facilitate conference calls with key home office personnel, allowing you and your staff to ask questions and get to know the people who will be supporting you and your business?
SII Other B/D Provide a one-on-one consultation with a branch developer to help your office comfortably adapt to conducting business with the firm?

EDUCATION & TRAINING

SII Other B/D Solicit feedback from an advisory council of your peers?
SII Other B/D Have specific workshops for your assistants and support staff?
SII Other B/D Host national conferences open to all representatives?
SII Other B/D Provide annual conference opportunities for representatives?
SII Other B/D Offer multiple opportunities to acquire firm element Continuing Education (CE) credits and fulfill other compliance requirements?
SII Other B/D Have highly respected financial and investment industry experts speak at conferences?
SII Other B/D Provide live online education courses?
SII Other B/D Post pre-recorded courses on the firm’s website, available 24-7?

PRACTICE MANAGEMENT

SII Other B/D Possess a dedicated business development support team?
SII Other B/D Offer practice management coaching programs?
SII Other B/D Help you recruit new representatives to your branch?
SII Other B/D Provide you with comprehensive E&O insurance?
SII Other B/D Offer deep discounts on independent third-party technology and services?
SII Other B/D Deliver practice management services including onsite consulting, hiring and compensation tools, daily office and workflow guides, client surveys, and more?
SII Other B/D Provide online information and services to streamline your business?