H.D. Vest

[NotEasy]

Any other tax professionals work with H.D. Vest in this forum? I have just been notified of an office audit. So I would like to know what I should pay attention to. How organized the files have to be? And what I need to do in order to prepare for it. This is my first H.D. Vest office audit so any advice will be greatly appreciated.

[JoshinNC]

My first was pretty smooth

Just needed to reorganize some files by clientANDaccount, but other than that pretty straightforward. My second one is Tuesday, I feel pretty prepared.

[August @ ADG Financial]

H D Vest Audit

I've been thru 3 office audits. They should have given you a list of what will be reviewed. Just have your client folders up to date. They will give you a list of corrective actions after the visit. They are there to help you. Good luck it's not really a big deal. They are nice people.
August Rep 8806

[AZ-Tax]

What fees involved in being Rep with HD Vest?

What kind of fees does HD Vest hit the Rep up for?

[August @ ADG Financial]

First you have to get a license, about $1500. plus study materials. Then about $1300. a year to keep your license. I'm a small producer and do about $10,000 a yr. in commissions. I get 1/2 and HD Vest gets half. It's the fun half of the business. I got in to the financial services business to do this work. The person I was working for at the time said "if you want to make a living you have to do taxes" and she was right. We do about $80K in tax prep. and 5K in investment planning. I like it. It's the fun side of the business.

[AZ-Tax]

I am already licensed.

First you have to get a license, about $1500. plus study materials. Then about $1300. a year to keep your license. I'm a small producer and do about $10,000 a yr. in commissions. I get 1/2 and HD Vest gets half. It's the fun half of the business. I got in to the financial services business to do this work. The person I was working for at the time said "if you want to make a living you have to do taxes" and she was right. We do about $80K in tax prep. and 5K in investment planning. I like it. It's the fun side of the business.

I am already licensed Series 7 and have been for little over 20 years. Just wanted to see what the FINRA registration, Fidelity Bond, SIPC assessment, FINRA assessment and CE were with HD Vest. How many states you in?

Depending on how many states you are in, your fees are a little higher then my BD charges me also paying me 50%.

[August @ ADG Financial]

I'm in 3 states. Only because some of my larger clients have moved away and have asked me to keep managing there accounts and do there taxes. My payout is 55% which is what you get when you go over $10,000. The more you do the higher the payout. Starts fresh every year. In October I got to 55%. I'm a Series 6. Started in 86. Been with Vest since 92. Like them no pressure to sell. They work with accountants and have been good for me.