Polar Investment Counsel Inc.

Independent Securities & Futures Brokers

Member: FINRA, NFA, MSRB, SIPC

Home Office: Thief River Falls MN

218.681.7344 * 218.681.1327 [fax]

Declare Your Independence

Indeed, there is a better life and a lot more money outside the wire house environment...

Today is      

 

Declare your
Independence!

 

ABOUT PICI
 
YOUR FUTURE?
 
TAKING THE DEAL
 
TRANSITIONING
 
CLEARING FIRMS
 
REQUIREMENTS
 
Q&A
 
FORMS
 
THE REP LETTER

 

Transitioning

 

Leaving your firm

The transition from leaving one firm and joining another can be fairly easy.  We provide you with all the necessary forms and instructions.  It is important to understand that the proper completion of documents is essential. 

Click below for an article on "Transferring  Accounts Away from Your Present Firm"

Many financial professionals are concerned about repercussions or "threats" of action from their present firm if they leave.  Please read the FINRA release on what obligations a firm has regarding these issues:

MERGERS, ACQUISITIONS AND BUSINESS TRANSFERS


 

Timeline to Joining

The firm maintains certain procedures when speaking with and introducing itself to prospective brokers.  These procedures are outlined below:

  1. An initial conversation or two with Michael Jordan.

  2. The execution of an Information Release form (CRD release) and the Pre-Hire Business Questionnaire.

  3. Additional conversations with Mike, and perhaps the opportunity of speaking with a reference or two (possibly a broker, clearing firm representative, or other individual familiar with the firm).

  4. Review of the PICI sample contract.

  5. Execution of Pre-Hire Secrecy & Arbitration Agreement.  At this point the firm will issue a temporary password to the firm's compliance and operations website, which will enable you to view the firm's policies and operational procedures.

  6. Conversation with Sherry Abbott concerning technology requirements and procedures.

  7. Following the decision to associate yourself with the firm, all remaining items on the New Rep Checklist (except a copy of your letter of resignation) are due to PICI Home Office not later than 7 business days prior to your start date.  A copy of your letter of resignation is due via fax on the date you join the firm (presumably the date you actually resign from your current firm).

Naturally, at any time during this process all necessary personnel are at your disposal to answer any questions or concerns, etc that you may have.  


 

Exam Study

Depending on the way your business is structured, you may be required to obtain additional licenses.  Studying for these exams is essential in order to receive a passing score.  While obtaining study materials for your exam(s) is your responsibility, we suggest the following:

Kaplan College

 

ABOUT PICI YOUR FUTURE?  TRANSITIONING  CLEARING FIRMS  ●  REQUIREMENTSQ&AFORMS

 THE REP LETTER

 

For more information contact:

Michael C. Jordan

mjordan@polarinvest1.com

Professional Biography

President

218.681.7344

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