Broker-Dealer Update: Week 2

Transition Proposals

Transition proposals are now available. Please note these are preliminary proposals and are not binding on either party and would only become official once the broker-dealer is formed and an agreement is signed. Each advisor will be receiving an email invitation no later than Tuesday (May 29th) by close of business to schedule time to go over his or her proposal. This will ensure that everyone understands the calculations and has a chance to identify any incorrect data or inputs. Stay tuned.

IFP in the Press

If you haven’t seen, our PR firm has done a great job getting us positive coverage in the news. Links below and more interviews are already on the calendar. Check out the articles on Financial Planning or Barron’s for a good read.

New Hires

We’ve hired three new employees since the last video update, two in our compliance department and a technology consultant, all formerly from INVEST Financial. We will be continuing to hire and add to our staff as we ramp up for the BD.

We are also in final discussions with a former CFO and FINOP of two large broker-dealers to become our CFO. This will add significant pedigree and experience to our roster.

RPAG for Plan Advisors

An agreement with RPAG, an end-to-end back office technology for plan advisors, is on the way. This platform will provide an entirely new suite of resources to our employer plan-focused advisors and will finally be available at an attractive price point. Stay tuned for demos and more information.

Pershing Demos and Resources

As everyone is probably aware, we’’ve selected Pershing as our clearing firm and as an additional advisory custodian to complement Fidelity, Schwab, and TD Ameritrade. We’’ve been conducting and will be conducting more demos of their platform for advisors in our network.

Pershing’’s platform has a lot of great resources, and we’’ll continue to send out more details in the coming months.

Communication Materials

We’’ve developed our first draft of a client brochure that you can send to your clients to help explain the BD transition. You can access that draft through Box. We welcome any additional talking points advisors would like to see in that brochure before we add our design. We will take everything into consideration before final production.

We are also producing a video that you can send to clients to help explain what’s going on.

Tech Stack

Our technology stack is looking more robust and we’ve inked agreements over the past few weeks for the core software we are now implementing. Stay tuned for release dates of the initial versions of our tech stack that you’’ll be able to test before the BD is launched.


RPAG, Pershing, Fidelity, Schwab and TD Ameritrade are separate entities from IFP and LPL Financial.