Start A Broker-Dealer

In order to start a broker-dealer, you must submit a new membership application (NMA) to the Financial Industry Regulatory Authority (FINRA).  Completing the NMA is often an arduous process.  To assist clients, we have a team of experts that can simplify the process, answer any questions, and get you to the finish line.

The NMA process has six major steps as defined by FINRA.

  • Start– Applicant prepares and submits original notarized Form BD & Web CRD Entitlement Forms
  • Orientation-Applicant accesses and reviews Applicant Interface to understand the NMA Process
  • Registration Requirements– Applicant prepares and submits Forms U4 and BR.
  • Membership Application– Applicant prepares and submits Form NMA and additional information required.
  • Interview– Staff schedules and conducts staff interview.
  • Decision– Staff issues decision on Application and Membership Agreement as appropriate.

Our team of experts have successfully helped many clients achieve broker-dealer ownership. Our execution strategy is well developed and has proven results.  Our strategy is as follows:

  • Meet with the Client to plan and determine application strategy.
  • Staffing and principal licensing assessment, including a review of the required licensing and prerequisite experience of the Client and its personnel.
  • Consultation on the capital formation and minimum net capital computation of the firm, including proof of funding and bank statement requirements.
  • Assistance in the completion of a firm-specific business plan.
  • Written Policies and Procedures Manuals and a Business Continuity Plan will be drafted.
  • Assessment of the required state registrations and filings for the firm, based upon the proposed business of the Client.
  • Completion and submission of the Form NMA.
  • Assistance in responding to any FINRA requests related to the NMA process.
  • All CRD functions, including Form BD, Form BR, Form U-4’s and all other required registration functions.
  • Training for any on-site interview or reviews performed by FINRA prior to firm approval.
  • Other expert advice and/or strategies to be implemented during any of the application stages.

After nearly 15 years in business, we have always provided first in class service.  If you are interested in starting a broker-dealer, please contact us at 404-841-1010.

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