How do people start their own boutique banks if their FINRA licenses expire after they leave their job? How do they get "relicensed" to start their own firm if their firm doesn't exist yet and can't be a broker dealer to sponsor them. Please correct me if any of this is misinformed
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Have had this same question 1 million times.
A ton of boutiques don’t have any FINRA licensing at all. In some cases the seniors do and the junior staff doesn’t. I think to a certain extent FINRA and the SEC don’t care because there’re bigger fish to fry, or they just fly under the radar.
There are a few loopholes involved with the fine print of purchase agreements and how banks market their services. Additionally, think there’s something to do with “Asset Sale Vs. stock Sale.
Not exactly sure how it all works, would love for someone to chime in.
"Rent" a B/D license from a company like BA Securities
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