Networks are no advantage
I do not see what advantage becoming an appointed representative of a network provides a broker. The...
I do not see what advantage becoming an appointed representative of a network provides a broker. The money-handling rules increase overall costs, because you have to send all client money to the network rather than keeping it in your own client account.
The authorities are not ogres, but are reasonable provided you are making real efforts to comply. If you do something wrong, they will give you time to put it right. My advice - stay independent. If it doesn't work out, you can easily join a network later.
Kean Seager, Chairman, Whitechurch Securities.
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