Broker-Dealer Update: Week 7

IFP Plan Advisors Commitment

IFP remains committed to the plan advisors in our network, which is why we’ve scoped out some exciting new changes. First, we’re bring some new ideas to the table that can help assist current clients and bring in new clients. Second, we started working with RPAG, which is a complete service program for plan advisors. Lastly, our team is also looking into a variety of other service programs that might be of use to you. Stay tuned for more on that in the coming months.

Perception of Liability with Equity Ownership in IFP

This week we wanted to address some concerns over liability if you own shares in the broker-dealer. As many know, an owner’s liability is limited to the value of their interest in that corporate entity.

Exploring Bulk Transfer from LPL to Pershing

We have (through Pershing’s legal counsel) reached out to FINRA to see if bulk transfer with negative consent is an opportunity we can explore. This would obviously make it much easier on our advisors to transition to the new broker-dealer.

Disclaimer: RPAG is a separate entity from IFP and LPL Financial.