Compare

Comparison of joining RJFS as an OSJ (a stand alone branch)
to joining as a branch satellite.

One daunting aspect of going independent is the new compliance and administrative duties you are required to take on. Setting up an OSJ is not trivial; the branch office manager (BOM) must be Series 24-licensed, and commence numerous daily, monthly and annual reviews and report preparation. Here, we are your OSJ. Bruce Harris, and a staff of four handle most of the requirements. If you set up as a branch satellite (S), you are the rep-in-charge (RIC) and have significantly reduced duties.
For instance:

Compliance Issues	OSJ/BOM	S/RIC
Daily trade confirmation*	yes	no
Daily trade ticket/confirm matching*	yes	no
Compliance files to maintain	18	4
New account review	yes	no
Support document review	yes	no
Review and sign: every report, letter, LOA	yes	no
E-mail review	yes	no
Handle complaints	yes	no
Respond to Compliance Dept	yes	no
Monthly MARS report	yes	no
Monthly compliance report	yes	no
Annual audit	1-2 days	2-3 hours
Advertising/seminar reviews, reports	yes	no
Annual financial advisor review	yes	no

* The BOM must affirm every trade and match every confirm made at the OSJ. That is, for both his own trades, and for those of all financial advisors in the office. This task alone can take up to an hour each day, and cannot be delegated. An RIC is relieved of this task.

Raymond James’ financial advisors may only conduct business with residents of the states for which they are properly registered.
© 2009 Raymond James Financial Services, Inc., member FINRA/SIPC.