It is IFP's goal to be ready to transition our advisors and clients to our broker-dealer by the end of Q1 2019.
If our interactions with FINRA go as planned, we anticipate that our broker-dealer application will be approved on or around the end of 2018.
IFP signs an agreement with Advizr to offer the financial planning and wellness software’s two products, Advizr Core and Advizr Workplace, to its advisors at a discounted price.
IFP signs an agreement with Albridge to provide the software company’s wealth reporting for all advisors that join IFP’s new broker-dealer. Albridge will be a component of IFP’s core tech package, which every advisor will utilize.
Advisor[X] is IFP's proprietary advisor launchpad software, which is currently under development and set to release in conjunction with the broker-dealer launch. IFP has began beta testing the software with a pre-selected group of advisors and admin staff who are tasked with providing continual feedback to optimize the buildout of the product.
Understanding that experience with a larger broker-dealer would be valuable to the firm, IFP has hired Bill McCauley, formerly CFO for Transamerica Financial Advisors as well as CFO of Mass Mutual's retail and wholesale broker-dealers.
Once they receive a firm's new member application, FINRA's self imposed 180 day clock for approval of the application officially starts.
To make the transition for our advisors as easy as possible, IFP requested that LPL provide blanket approval for all IFP advisors to move advisory business from LPL to one of our four custodians prior to our BD launch, and LPL has approved that request.
A day ahead of our nation's Independence Day, IFP submits its broker-dealer new member application to FINRA to get the ball officially rolling on the broker-dealer launch.
In the effort to deepen IFP's bench, IFP has brought on a plan industry leader and veteran to oversee the evolution and growth of the firm's employer plan division.
As a broker-dealer, IFP needs a clearing partner and has chosen Pershing as the clearing platform of choice, a relationship that will be officially formalized once the broker-dealer is up and running.
Redi2 is a leading SaaS solution for financial services billing. They will be the engine behind our customer billing and advisor fee payments.
Agreement Express will enable IFP's advisors to have a completely paperless and digital account opening and account transition experience across our 4 custodians: Pershing, TD Ameritrade, Fidelity, and Charles Schwab.
IFP's broker-dealer is on pace to be approved by FINRA on or before January 1, 2019.
Co-founded by the former Chief Compliance Officer of Facebook Payments, Beam provides a suite of new age compliance technology solutions to firms like IFP that need to oversee AML monitoring, customer due due diligence, suspicious activity reporting, and trade surveillance. Using machine learning and an API-based SaaS platform, Beam helps customers dramatically reduce false positives and enhance transaction monitoring.
SmartX is a managed account platform technology that provides advisors a single interface to manage traditional, alternative, and direct index strategies through a UMA/SMA structure.