Q & A

Frequently asked questions for Broker Dealer Services

Q. I'm a high producer what kind of payout do you offer someone like me?

World Choice provides an aggressive pay structure combining the best payout balanced with superior flexible service. Payout is based on verified production and percentages, which includes both security production and brokered insurance commissions -- giving you an edge over what most of our competitors pay. Requests for OSJ offices, groups of Reps., and special programs such as banks or CPAs will be addressed on an individual basis. We pride ourselves in being competitive with our compensation and giving a great package of services to our Reps.

Our aggressive payout plan compensates you for the work you do with no confusion. Your payout does not vary by product: if we say 80%, we mean 80%. You can calculate what you can expect and easily verify if your check is correct.


Q. Will I be hit with unexpected fees that I have no choice in and that will frustrate me?

We know you are in business to make money. What you can expect to make or what you will be charged should never be over complicated or a surprise. That's a waste of your time and effort! At World Choice, we try hard to disclose our fees to you in advance. You should never find yourself hit with unexpected charges for things that cut into your profits without enhancing your business.


Q. Do you offer a signing bonus?

In a word: no. Here's why: Let's say we offered you $100,000 to be a rep with our firm. Is your business worth only $100K? Of course not, it's worth a great deal more over the long term or the other Broker/Dealer would not be offering that! Then why would you consider selling it at a discount? Is that what you would advise a client to do? WOULD YOU ADVISE A CLIENT TO TAKE A SHORT TERM PROFIT ON WHAT SHOULD BE A GREAT LONG-TERM INVESTMENT? You can get nearly double the pay out percentage if you own your accounts. And don't forget that you or your spouse can sell your business when you retire or if something happened to you that didn't allow you to continue in your career. When you own your business you can move it when there is a need to make a change.

World Choice understands that owning your book of business is worth far more to you in lifetime value than a quick bonus check, and valuing ownership is a characteristic of the independent Rep, a true business owner, not just a salesman.


Q. What is your minimum production requirement?

Unlike most Broker Dealers, World Choice lets you combine your insurance and investment production to meet your requirements. Our annual minimum is $50,000 GDC commissions. (Special circumstances may be considered, please contact us for discussion.)


Q. Will my clients' money be as safe with a small Broker/Dealer?

Absolutely Yes. All client funds are held in custody at the investment companies or at the clearing firm. No investment checks are made payable to World Choice; they are transmitted daily to the custodians. We are a member of SIPC. Currently we have over 20 times the required minimum net capital.


Q. I want to be an OSJ and hire reps under me. What's your policy on that?

If you want an OSJ Office we'll help you get it. Just pass the test and show us you have the experience. Naturally you will have to meet all FINRA requirements, too. We'll help you just like we did John Stockton. We are set up for one level of overrides; we do not offer pyramid or multiple levels of overrides.

Q. If I need help with a tough business or compliance issue, who do I call?

This is actually one of the greatest advantages of World Choice; if you need to talk to someone with the authority to get a decision made, you can get it done! You have a direct line to the President's desk with World Choice and are free to call any time.


Q. What if I need to reach a support person right away?

Call our office any time during business hours and you will reach a real person, not a phone system. Our employees have a genuine concern for our representatives, and our business operation is designed to allow them the time and resources to provide personal service. At World Choice you never have to run the telephone obstacle course -- you talk to a person.


Q. Do I have to buy my E&O through World Choice or can I use my own?

In order to assure consistent and appropriate levels of coverage overall, all representatives are required to carry their Errors and Omissions insurance via the World Choice policy. We believe this requirement best supports the overall goal of providing all of our representatives, partners, and their clients with the appropriate protection in advance of the need. An attractive discount is available for those who pay by the year.

Your E&O coverage is placed in effect as soon as you register with us so you do not experience dangerous gaps in your coverage. World Choice has established this requirement in order to assure proper protection from career-ending events.

Q. What is your attitude about compliance?

LWe build our compliance package as our defense for a time when we both may need it. Instead of working in opposition to the rep, we are on the same team.

Our compliance people come from the selling side of the aisle. They have empathy for your need to navigate the barrage of controls, rules, and regulations endemic to our industry. They also have a command of current requirements and are committed to keeping you clearly informed. Our goal is to do a thorough job and keep the working relationship pleasant.

Our watchwords for compliance are: consistency, clarity, and education.


Q. Are you ready to make your own choices?

CHOICE OF PRODUCTS -- We don't pressure you into sales of proprietary products as often happens at large firms or captive environments. You can feel free to make the best investment decisions and offerings for your own clients.

CHOICE OF LOCATION -- World Choice reps are located throughout the USA. Work when and where you want to. (One of our reps even has a winter season in Florida and a summer season in New York, talk about flexibility!)

CHOICE OF STYLE -- At World Choice we understand that every business like every rep has its own personality.

Whether you are a lone wolf or a team player, actively trade stock or a CPA whose clients rely on you for investment confidence, World Choice will help you build the business that is right for you and will provide the protection and support you need.

World Choice is RIA-friendly, and you can select either your own RIA or ours.

Do you want to recruit and develop your own organization (and earn overrides)? We can support you in establishing your Recruiting Office of Supervisory Jurisdiction. We'll help you with everything from licensing, to planning, to recruiting.

Have you been less than satisfied with the personal side of your business? We understand just how important the right fit of personalities and atmosphere is in making your interaction with your BD a pleasure instead of a chore. At World Choice we take pride in our quality staff, and we'll work closely with you to assure that you have the World Choice support team that is right for you.


Q. What are reasons World Choice might NOT be the right choice for me?

1. The ideal World Choice representative neither needs nor wants extensive direction regarding product choice, and instead is seeking an atmosphere that supports his or her own advice to clients with excellence in both service and compliance oversight. If you are a representative who expects daily direction regarding what to market to your clients at any given time, i.e., hand holding, World Choice may not be your best choice.

2. World Choice supports the efforts of those who set and achieve their own goals and allows them to reap the rewards for doing so. If you are primarily interested in functioning within a company's prescribed set of goals, you may not find the structure you need in the freedom World Choice provides its representatives.

3. At World Choice we work to assist our representatives in building a long-term book of business and relationships, and we place a high value on the commitment and continuity that it requires. If the investment business is a short-term income stream for you, not a career, then World Choice is probably not your best BD choice.

4. If you just want to hang your license, World Choice is not for you. This is a Broker Dealer for Producers.


Q. What is required to move and how long does it take?

You can complete the registration paperwork and get your packet reviewed before you notify your old firm. Once you are cleared it takes us only about two days to get you in our system. The longest possible time element is getting past employment verifications from your old employers for the last three years. Give us a call and we can plan your move so you experience very little down time. We can coach you on handling the details of changing broker/dealers, depending on your individual situation.


Q. Will my old firm raid my accounts?

Your previous firm may choose to reassign your account to other reps there. So, having everything planned, prepared and being ready can make your move as smooth and painless as possible. If done right, your move does not have to be a huge loss in client base and cost you months of lost revenue.


Q. Can my old firm put negative comments on my U-4?

They have to justify comments put on your U-4 or U-5. If you do not agree with the comments, you may make a statement on the U-4 or U-5 giving your side of the matter. If what they said is just not true, you can hire a securities attorney and proceed to have the matter reversed. They have to justify and prove any negative information they put on your records. It can cost them a great deal of money to fight a situation so most firms will avoid conflicts if they can.

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