Why and How to become Registered Rep. with 361Firm (Finalis)

Whether you are a Registered Rep. with another broker-dealer (B-D) or are considering to join a B-D, you might wish to consider joining our B-D (Finalis) as part of 361Firm.

Reasons to join 361Firm:

  1. Save money. Most B-Ds charge a percentage of Securities-Related Revenues (SRRs), which can range from 10% to 25% (and often include retainers), plus fixed fees (monthly or annually). Finalis only charges a % for SRRs, which can range from 2-10% based on estimated revenue levels (ERLs). As 361Firm already pays the estimated ERLs, new RRs can join under 361’s umbrella and pay only the minimum FINRA/SIPC registration costs of ~$425. If you join Finalis on your own, you need to pay about $13K+ in ERLs. Plus, you benefit from aggregating revenues with 361, which lowers the % of SRRs - see note below.*

  2. You join as an “insider” in the 361Firm community with 4K+ allocators (and 3K+ funds/companies) which hosts events in over 20 countries and 100 cities (see www.361firm.com/home) 

  3. You can immediately cross-sell  

    1. 361’s deals to your investors - see our 25+ sell-side mandates of both direct deals and funds (External Pipeline)

    2. your deals to 361’s global investors (4K+) - also 361 has buy-side mandates (see 361Core)

    3. to connect on business development - 361 has a growing number of referral mandates outside of securities activity

  4. We have a queue of potential mandates on which we could collaborate, and some come with retainers we can share - see 361Firm's Approach to Raising Capital for Funds or Companies (https://361.pub/approach)

  5. You join a collaborative global team 

  6. You can stay independent with your own brand, and just show that you are “a 361Firm affiliate”

How to Join Finalis via 361Firm?

  1. First, fill out the onboarding questionnaire located here, noting that you will be affiliated with 361Firm.

  2. Create credentials and log into Finalis Platform and follow steps to complete your U4. After completing the tasks outlined here, Finalis sends you a copy of your U4 to sign via DocuSign, and only files your U4 with FINRA on completion of ALL tasks and with your “go ahead” (particularly if you are with an existing BD and need to coordinate with them and clients).

  3. Schedule a fingerprint scan here. If outside U.S., email customer-success@finalis.com and provide your foreign mailing address. US-based RRs will need the Fieldprint code (FPFinalisCP), Employer name (Finalis Securities LLC) and Address (228 Park Ave South, Suite 85550, New York, NY 10003) and phone (1-800-965-3605).

  4. Complete your profile: (a) Personal Bank Account for success-based compensation; (b) note any Outside Brokerage Accounts; update disclosures for securities-related emails; and (d) set up Email archiving (see separate tutorials and instructions).

How to Collaborate as a “361Firm Core Banking Affiliate”?

Here is a link to the MOU between 361 and “Core Affiliates”, which covers how:

  • you can leverage the 361 community of investors with regular and co-created events

  • we honor your Core Investor Accounts, and vice versa

  • you can lead (co-lead) on executing mandates as “Managing Participants”; and 

  • together we create better value for our clients and each other

If you do NOT yet have your Registered Rep. Licenses

We can sponsor you so you can take the exams for the relevant FINRA licenses. Typically, to engage in investment banking to raise equity securities, you will need a Series 7 and 63. For the Series 7, you can take the initial steps on your own by passing the SIE (Securities Industry Essentials) exam, and then 361Firm and its BD can sponsor you to take the Series 7. We can help you to navigate the testing and to obtain exam prep materials (e.g. Kaplan).

*The minimum amount depends 100% on the revenue expectation the new rep assumes he/she is going to be making for the following 12 months. Our most affordable plan consists of a rate of 10.58% with a subscription fee of 4 quarterly payments of $3.271 which will be 100% credited back against success based compensation.  There are some state license fees for each RR but they can be limited until you trigger each state, which Finalis helps you track.  By aggregating revenues, together we can reach breakpoints to lower the overall percentage that Finalis charges you as a RR.