Affiliation fees at the largest independent B-Ds
Firm Affiliation fees charged per rep, per year Affiliation fee coverage American Portfolios Financial Services Inc. $775…
| Firm | Affiliation fees charged per rep, per year | Affiliation fee coverage |
|---|---|---|
| American Portfolios Financial Services Inc. | $775 | Annual maintenance, branch audit fee |
| Ameritas Investment Corp. | $3,000 if generated less than $10,000 in gross dealer concession | Technology, compliance, administration |
| Ausdal Financial Partners | $400 | General administration fees |
| Berthel Fisher & Company Financial Services Inc., a unit of Berthel Fisher & Co. | $1,548 | E&O insurance |
| Broker Dealer Financial Services Corp., a unit of BDFSC Holdings Corp. | Approx. $2,000 | Licensing expenses, technology |
| Cadaret Grant & Co. Inc. | $1,923 | Licensing, E&O insurance |
| Cambridge Investment Research Inc. | $0 | N/M |
| Capital Financial Group Inc./H. Beck Inc., a unit of Securian Financial Group Inc. | $2,020 | E&O insurance, firm element continuing education, SIPC fee |
| Capital Investment Co. | $3,300 | E&O insurance |
| CFD Investments Inc. | $4,800 | E&O insurance ($1,800), technology ($3,000) |
| Commonwealth Financial Network | $0 | N/M |
| Coordinated Capital Securities Inc. | $2,468 | E&O insurance, Finra assessment fees, Fidelity Bond, SIPC fees, continuing education, mailing fees |
| Crown Capital Securities LP | $2,580 | E&O insurance |
| Financial Telesis Inc. | $0 | N/M |
| First Allied Securities Inc. | $3,000 | Automated adviser marketing system, Albridge Solution (full version), ARC-Insight: Alternative Investments Tool, J.P. Morgan research, Annuity Intelligence Tool, Pershing and J.P. Morgan Clearing content, PEAK Performance Metrics, Pension Toolbox, First Allied Technology Systems and Solutions, e-mail |
| First Midwest Securities Inc. | $0 | N/M |
| FSC Securities Corp., a unit of Advisor Group | $1,356 | Albridge, Forefield Marketing, NetX360, LaserApp, Morningstar Fact Sheets, Advisor Report Center, Client Central, ServiceNet, MyNotifications, Variable Annuity Comparison Tool, NetX360, Pershing statements include free-cost basis |
| GBS Financial Corp. | $3,528 | Monthly support, some technology, E&O insurance |
| Geneos Wealth Management Inc. | $6,100 | E&O insurance, Fidelity Bond, full technology package |
| Genworth Financial Securities Corp., a unit of Genworth Financial Inc. | $2,056 | E&O insurance, technology, compliance |
| Girard Securities Inc. | $6,317 | Technology fee, E&O insurance, Fidelity Bond, Streetscape or Netx360 e-mail |
| H.D. Vest Financial Services, a unit of Wells Fargo & Co. | $1,123 plus state fees (IAR licensing is additional $225 plus state fees and branch fees, if applicable) | Audit, bonding, branch fees, technology |
| Harbour Investments Inc. | $2,300 | E&O insurance, licensing fees, CIF |
| Hornor Townsend & Kent Inc., a unit of Penn Mutual Life Insurance Co. | $1,800 | SmartOffice CRM, basic versions of NetX360 and Albridge Solutions, Resident State FINRA and Resident IA Fees, ongoing training, education and compliance services |
| IMS Securities Inc./IMS Financial Advisors Inc. | $0 | N/M |
| Independent Financial Group LLC | $4,800 | E&O insurance, Fidelity, technology |
| ING Financial Partners Inc., a unit of ING Group | $1,200 | Integrated technology platform-SalesForce CRM, MoneyGuidePro, Morningstar Snapshot, Albridge data, and Forefield, customizable marketing, books and records, centralized trade review, advanced sales and research |
| Invest Financial Corp., a unit of National Planning Holdings Inc. | $3,396 | E&O insurance with “prior acts” coverage, clearing firm access through National Financial Services and Pershing, paper-free workflow with e-signature technology, Morningstar Fund Analytics, Morningstar Annuity Analyzer, Annuity Nexus, continuing education, financial planning resource center, retirement planning resource center, investment advisory resource center, bond center, marketing support, back office support |
| The Investment Center Inc. | $0 | N/M |
| Investment Centers of America Inc., a unit of National Planning Holdings Inc. | Approx. $3,000 | E&O insurance, Fidelity Bond, clearing firm trading platform (NetX360), electronic account opening and order entry technology, web portal and utilities, commission reporting, compliance CE tracking, financial solutions team support, marketing/creative services, back-office support |
| Investors Capital Corp., a unit of Investors Capital Holdings Ltd. | $3,550 | Books/records, E&O insurance, annual license/registration |
| J.P. Turner & Co. | $0 | N/M |
| J.W. Cole Financial Inc. | $2,850 | E&O insurance, FINRA, Home State |
| John Hancock Financial Network, a unit of Manulife Financial | $0 | N/M |
| LaSalle St. Securities LLC | $0 | N/M |
| Lincoln Financial Network | $1,500-$3,600 | Access to do business with the broker-dealer |
| Lincoln Investment Planning Inc. | $480 | Dedicated representative-oriented Web site, CRM system, customized marketing material, discounted financial planning and retirement planning software, access to End-User Computing technical support help desk, voicemail, email service |
| LPL Financial LLC, a unit of LPL Investment Holdings Inc. | $600-$1,500 | Contract fees |
| M Holdings Securities Inc. (M Securities), a unit of M Financial Group | Varies depending upon branch office structure | Supervision, compliance services, technology, operational support |
| MetLife Securities Inc., a unit of MetLife Broker-Dealer Group | $0 | N/M |
| MML Investors Services LLC, a unit of Massachusetts Mutual Life Insurance Co. | $0 | N/M |
| National Planning Corp., a unit of National Planning Holdings Inc. | $3,600 | E&O insurance, Fidelity Bond, SIPC coverage, third-party research tools |
| National Securities Corp., a unit of National Holdings Corp. | $0 | N/M |
| New England Securities Inc., a unit of MetLife Broker-Dealer Group | $0 | N/M |
| Next Financial Group Inc., a unit of Next Financial Group Holdings Co. | $4,000 | E&O, estimated/averaged Finra and state-licensing fees |
| NFP Advisor Services Group (& Affiliates), a unit of NFP | Varies | N/M |
| Northwestern Mutual, a unit of Northwestern Mutual Life | $0 | N/M |
| The O.N. Equity Sales Co. | $0 | N/M |
| Packerland Brokerage Services Inc. | $0 | N/M |
| Park Avenue Securities LLC, a unit of Guardian Life Insurance Co. | $900 | Technology tools, licensing administration, E&O billing and administration, compliance, regulatory oversight |
| PlanMember Securities Corp. | $600 | In-house client call center, co-branding websites, online compliance CE tracking and advertising review, marketing pieces, flyers, collateral |
| Princor Financial Services Corp., a unit of Principal Life Insurance Co. | $0 | N/M |
| ProEquities Inc., a unit of Protective Life Corp. | $2,760 (base) | Finra annual fee, home-state fee, Firm Element, training, technology |
| Prospera Financial Services Inc. | $1,500 | Technology, audit |
| Protected Investors of America Inc. | $2,750 | E&O insurance, secure email, FINRA and state registrations, access to clearing firm technology |
| Questar Capital Corp., a unit of Allianz Insurance Company of North America | Sliding scale based on production. ($0-$3,000) | Technology, audit fees |
| Raymond James Financial Services Inc. | $3,540 | E&O insurance, administrative costs |
| Royal Alliance Associates Inc., a unit of Advisor Group | $1,356 | Albridge, Forefield Marketing, NetX360, LaserApp, Morningstar Fact Sheets, Advisor Report Center, Client Central, ServiceNet, MyNotifications, Variable Annuity Comparison Tool, NetX360 |
| SagePoint Financial Inc., a unit of Advisor Group | $1,356 | Albridge, Forefield Marketing, NetX360, LaserApp, Morningstar Fact Sheets, Advisor Report Center, Client Central, ServiceNet, MyNotifications, Variable Annuity Comparison Tool, NetX360 |
| Securities Service Network Inc. | $4,200 | N/A |
| Sigma Financial Corp. | $3,288 | E&O insurance ($2,388), Sigma affiliation fee ($900) |
| SII Investments Inc., a unit of National Planning Holdings Inc. | $3,720 | E&O insurance, FINRA annual registration, FINRA Home State Renewal, LaserAPP software subscription, FINRA Fidelity Bond Renewal, www.SIIonline.com website Resources, anti-money laundering CE, SII University web ex training, annual privacy policy mailing, customer account notification system mailings (fulfills 36-month mailing requirement), email accounts for entire office, NetExchange select pershing brokerage account access, annuity Nexus research tool, Morningstar Fund Analytics research tool, Morningstar Investment Analyzer for Variable Annuities (IAVA) research tool |
| Sterne Agee Financial Services Inc. | $2,760 | E&O insurance, e-mail, research |
| Summit Brokerage Services Inc., a unit of Summit Financial Services Group Inc. | $0 | N/M |
| TFS Securities Inc., a unit of Tomorrow’s Financial Services Inc. | $1,485 plus actual renewal fees | E&O ($1,125), e-mail / tech ($360), and actual renewal fees |
| Tower Square Securities Inc., a unit of MetLife Broker-Dealer Group | $1,350 | Continuing education fee, branch fee, routine audit/supervisory visits, technology fees |
| Transamerica Financial Advisors Inc. | $4,140 | E&O insurance, all technology |
| Triad Advisors Inc., a unit of Ladenburg Thalmann Financial Services Inc. | $0 | N/M |
| Trustmont Financial Group Inc. | $2,350 | E&O, Fidelty Bond, Surety Bond, MSRB, Finra renewal, home state renewal |
| United Planners Financial Services | $1,368 | e-blotters, client centric access, annual update letters to clients, firm CE, compliant email and supervision and storage, Fidelity Bond |
| Uvest Financial Services Group Inc., a unit of LPL Investment Holdings Inc. | $0 | N/M |
| vFinance Investments Inc., a unit of National Holdings Corp. | $0 | N/M |
| VSR Financial Services Inc. | $0 | N/M |
| Waddell & Reed Inc., a unit of Waddell & Reed Financial Inc. | Varies by platform | N/M |
| Walnut Street Securities Inc., a unit of MetLife Broker-Dealer Group | $1,350 | Continuing education fee, branch fee, routine audit/supervisory visits, technology fees |
| Wells Fargo Advisors Financial Network | $1,620-$4,260 | N/M |
| Williams Financial Group | $0 | N/M |
| Woodbury Financial Services | $0 | N/M |
| WRP Investments Inc. | $0 | N/M |
| As of Sept. 30, 2010. N/M=not meaningful. N/A=not available. Source: InvestmentNews | ||
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