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Matthew J. Rettick
President |
Thoughts from Our Founder |
Well, the wait is over . . . I am happy to announce that FINRA has approved our purchase of Center Street Securities. We were given 100 slots for registered reps, along with a safe harbor provision of 30%, which means that we have 130 slots for quality securities reps. This process has been two years in the making. It’s been a long, difficult, and expensive process, but one which we felt we needed to pursue in order to be competitive in the marketplace as well as a leader in the changing landscape of the financial services industry. We also had heard from many of you who were securities licensed that we needed to build or buy a broker dealer if for no other reason than offering a friendly home to those reps that were doing seminars and/or selling FIAs. I must have heard hundreds of times over the last few years that many advisors’ current B/D either didn’t like public seminars and wouldn’t look at or approve ours, or didn’t like indexed annuities and wouldn’t let you sell them, or forced you to sell the ones they offered on their approved list and then ran your commission through their grid, which meant of course a haircut on your comp.
At Producers Equity Group we are going to offer a much better home and model for those reps that want to continue to do seminars and/or want to offer indexed annuities to their clients. You will hear more details from Kevin Vozar and Jeremy Rettick in the next few weeks as we can now ramp up to really help you with your securities products and clients.
I would like to also give a big Thank You to J. R. Thacker for going through the labor pains of launching CSS from a virtual dormant status into an entity that we could take on at this time. He is an outstanding leader in the securities world, as well as a tremendous mentor and coach. Above all, though, he is a great friend, and will be instrumental in helping each of you in furthering or entering the securities world successfully.
So, now all the pieces are in place to officially launch Producers Equity Group. All three entities—CRP, BCM, and CSS—are now owned by PEG. Our launch to the general public is slated for August 1. We want to thank all of you for your continued support and belief in us and our vision for the future. Now is the time to blast our message to the nation. Get ready for the ride of your life!
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