Does your broker dealer give you freedom to serve your clients?

November 5, 2013 by

I love to ask questions.

It’s a natural part of building relationships. Asking questions is the fastest way for me to get to know you. It also helps me find out what financial professionals are looking for in their business.

In building relationships with financial professionals, I’ve heard them say that one of the most important things a broker dealer can do for them is to allow them freedom to sell what they want. There are a couple of different ways that your freedom can be restricted. One tell-tale sign might be that payouts may differ depending on the product. Another, more obvious, is that you’re restricted to proprietary products or a limited product list.

Why does this matter?

Restrictions from a broker dealer may turn into restrictions you have to ultimately place on your clients; meaning you are not able to offer a full scope of solutions.

In the end, who wins: The client, advisor or broker dealer?

If you’re not sure how much freedom you have, ask yourself these questions:

  • Are you unclear what you pay for in your current fee arrangement?
  • Are you initially told that you don’t have to submit fixed insurance to your broker dealer, but you ultimately have to?
  • Does your payout vary depending on the product?

Do you see a pattern in your answers? Click here to download a questionnaire to help you determine if you are getting the support and access to products that best service your clients. If you answer yes to three or more questions, you might want reconsider your current position with your broker dealer.

At the end of the day, your clients’ needs come first. You deserve a broker dealer that supports that goal.


Securities and investment advisory services offered through Brokers International Financial Services, LLC, Panora, Iowa. Member FINRA/SIPC. Brokers International Financial Services is a strategic partner of Brokers International, Ltd.

Brokers Financial

Brokers Financial is a FINRA member Broker-Dealer and SEC-Registered Investment Adviser (RIA) providing extensive brokerage, advisory and investment services to the independent financial professional.

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