Frequently Asked Questions
Level Four Financial is an independent broker dealer clearing Raymond James & Associates. Level Four Financial is developing new and innovative solutions for the financial professional providing independence from the wire houses and standard independent firms.
Level Four Financial currently clears securities transactions under a fully disclosed agreement with Raymond James & Associates, Member New York Stock Exchange/SIPC (“RJ&A”).
Level Four Financial is not a part of Raymond James, rather we made a choice years ago to hire Raymond James & Associates, Inc. as our clearing firm. We are a completely separate broker dealer and have no common ownership. The main job of a clearing firm is the custody the assets, clear trades and produce monthly statements and confirmations.
Yes. We have a full transition team providing form filling, licensing and registration, representative and client education, daily and weekly transition progress reports, prerecorded on demand training classes and personal home office support.
Very often, just a few days (and in some cases as little as 24 hours). Once you have been approved, you will work closely with members of our team — dedicated solely to you — to coordinate the opening of your office. Assuming the representative already has office space, a typical transition normally takes from one to three weeks.
Independent branch managers are required to have the appropriate supervisory license to operate a branch office. In addition, you will need any licenses applicable to the type of business you or any of your registered advisors transact (such as Series 65 or 66 for investment advisory business) on behalf of their clients. If any additional licenses are required, we will give you sufficient time to acquire those licenses.
Our Licensing Department will be able to transfer your license immediately upon receipt of your updated Form U-4 and any applicable registration fees provided your disciplinary history is clear. The Licensing Department will keep you apprised as your approval process is completed by each state.
Level Four Financial has a team of experienced Compliance Specialists that understand your business and who are able to assist you. In addition, we will provide periodic inspections, on-going supervision and policies and procedure manuals that detail your responsibilities. Also, you will receive periodic updates, training and memoranda to keep you on top of any relevant changes to your business. Level Four Financial makes this information available to its representatives online for easy access and review.
Yes, while at Level Four Financial you may keep your RIA. You also have the option to use Level Four’s RIA (Level Four Advisory Services) which provides a multitude of investment advisory products from which to choose.
There are no monthly fees to be associated with Level Four Financial. All representatives however, are required to pay coverage for errors and omissions insurance, as well as for a fidelity bond. Depending on the type of business you transact, there may also be a technology fee for online access to accounts, as well as for order-entry capability and electronic communication within the back office platform. Your monthly clearing fees are determined by your business mix and the cost associated with each particular transaction, if any.
You may choose between using Level Four Financial or utilizing your own name such as John Smith Financial or Smith Investments.
Yes. Where you locate your office is completely up to you.
The account transfer process begins with the completion of a New Account form and a transfer form called an ACAT (Automated Client Account Transfer). Your client’s signature is required to authorize the transfer of securities. Both the delivery of documents and Level Four Financial’s processing of the forms play a role in the electronic transfer of accounts, which typically takes no more than five business days to complete.
Our payout is extremely competitive – between 70% and 95%. Additionally, Level Four Financial offers a number of other benefits. Please contact us for more details.
Transaction costs, or ticket charges, vary depending on the type of business being executed. Please contact us to learn more about specific charges.
No. You are the financial professional and we leave you with the decision of how large you want to build your client base.
No. We attract financial professionals whose way of doing business aligns with our client-first philosophy. You will never be influenced to do anything that’s not in your clients’ best interests. In short, there are no sales quotas, account size restrictions, product pushes or ticket charges designed to influence your decisions. Here, you can offer the products that you believe are best for each client; the decision is yours. And remember, we won’t take your high-net-worth clients away – on the contrary, our service model helps you attract and support a more affluent clientele.
Our Compliance Team serves as your consultant and counselor. They are there to help you preserve your practice so you can focus on your business.
Absolutely. In fact, we strongly encourage the addition of financial professionals to existing branches.
There’s no need to fight your firm for your book of business. At Level Four Financial, your book of business is just that – yours. We doubt you’ll want to leave, but if you do or if it’s time to retire, you can take your book of business with you or work out a succession plan before you retire.
Ready to learn more?
Now that you have scratched the surface of the possibilities that await you here, get the whole story. Have a confidential conversation with our consultant about what your business would look like as a Financial Professional with Level Four Financial.