What kind of B/D is FFS?
Fortune Financial Services is a Series 6/63 limited securities broker-dealer.
Does FFS utilize the services of a clearing house?
Fortune Financial Services permits our agents to utilize the services of Legent Clearing, LLC when completing a change of broker/dealer on an existing mutual fund brokerage account. In all other cases, FFS acts as a subscription-way (check-and-app-to-sponsor) B/D. Click here to access all available brokerage account transfer forms.
How many independent representatives are registered with FFS?
FFS currently has more than 350 representatives nationwide.
Which licenses do I need to sell with FFS?
Our agents need at least a FINRA Series 6 license (and Series 63 in most states) to sell with FFS.
What is the selection of investment and insurance options with FFS?
When properly licensed, you can offer your clients a vast array of mutual funds, variable life and annuities, and some fixed products. For a complete list of all our investment partners, click here.
What is the cost of joining FFS?
Representatives are responsible for their annual fees for each calendar year in which they do business with our firm. Annual fees vary depending on whether you are an active agent, a retiree, or a new agent wishing to take the Securities exam (FINRA Series 6 & 63 exams only). There are no additional monthly or semi-annual fees. For more information, click here.
What is FFS's stance on E&O insurance?
Fortune Financial Services does not require our agents to purchase group E&O insurance. In this way, we enable our agents to purchase the most economical insurance on the market. We insist that our agents carry minimum coverage of $1 million/$1 million, covering mutual funds and variable insurance products.
What is FFS's stance on representatives' Web sites?
At Fortune Financial Services we permit our agents to use the following three vendors when designing a securities-related Web site: AdvisorSquare, Emerald Publications, and Financial Visions. Representatives' non-securities Web sites must be disclosed to the FFSI Compliance Department at least annually for a "securities-content" review.
What kind of production minimum will I be expected to maintain?
Our firm maintains one of the lowest production minimums in the securities industry. In compliance with FINRA 'no parking' rules, our agents are required to produce a minimum of $15000 in net securities commissions paid.
What kind of payout do you offer?
Our payout is between 50-90% of GDC and is based on a year-end 1099 Misc. production level with Fortune Financial Services.
How often does FFS pay commissions?
Fortune Financial Services pays commissions every Friday by direct deposit.
How do I receive my clients' statements?
As we support the industry shift toward the paperless office, we encourage all our agents to access client statements instantaneously on proprietary Web sites, or 'one-stop-shop' Web sites such as DST Vision and Advisor Central. Additionally available to our representatives is the online Wealth Management Platform from Investigo, a Broadridge Financial Solutions, Inc. Company.
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