Broker-dealer

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A brokerage firmor simply brokerageis a securities brokerage firm institution that facilitates the buying and selling of financial securities between a buyer and a seller. Brokerage firms serve a clientele of investors who trade public stocks and other securities, usually through the firm's agent stockbrokers. The staff of this type of brokerage firm is entrusted with the responsibility of researching the markets to provide appropriate recommendations, and in doing so they direct the actions of pension fund managers and portfolio managers alike.

These firms also offer margin loans for certain approved clients to purchase investments on creditsubject to securities brokerage firm terms and conditions. Traditional brokerage firms have also become a source of up-to-date live stock prices and quotes. A discount broker or an securities brokerage firm broker is a firm that charges a relatively small commission by having its clients perform trades via automated, computerized trading platforms rather than by having an actual stockbroker assist with the trade.

Most traditional brokerage firms offer discount options and compete heavily for client volume due to a shift towards this method of trading.

Other ways to lower costs for these brokers securities brokerage firm by executing orders only a few times a day by aggregating orders from a large number of small investors into one or more block trades which are made at certain specific times during the day.

They help lower costs in securities brokerage firm ways:. Since investor money is securities brokerage firm before stocks are bought or sold, it enables investors to contribute small amounts of cash with which fractional shares of specific stocks can be purchased.

This is usually not possible with a regular stockbroker. Many broker-dealers also serve primarily as distributors for mutual fund shares. These broker-dealers may be compensated in numerous ways and, like all broker-dealers in the United Securities brokerage firm, are subject to compliance with requirements of the US Securities and Exchange Commission and one or more self-regulatory organizationssuch as the Financial Industry Regulatory Authority FINRA.

The forms of compensation may be sales loads from investors, or Rule 12b-1 fees or servicing fees paid by the mutual funds. From Wikipedia, the free encyclopedia. Comparison of online brokerages in the United States. Retrieved 10 October British Columbia Securities Commission. Thomas Smith 6 March Regulation of Investment Companies.

Lexis Nexis Matthew Bender. Retrieved from " https: Brokerage firms Financial services. Views Read Edit View history. This page was last edited on 8 Februaryat By using this site, you agree to the Terms of Use and Privacy Securities brokerage firm.

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DMG is a privately owned full-service securities brokerage firm registered in all 50 states and the District of Columbia. We offer our clients throughout the United States a wide range of investment vehicles and financial advice. Our experienced group of highly motivated professionals are dedicated to providing the best in personalized financial service to our clients.

Meeting your unique financial goals is our top priority. Your Account Executive will meet you to discuss your individual investment objectives, specific requirements and your long-term financial goals. We want to assist you and we are at your service. Neither SIPC nor excess coverage protect against a decline in the market value of securities. Therefore, we consider it important to tell you about our Privacy Policies and Practices. Since the timing and impact of disasters and disruptions is unpredictable, we will have to be flexible in responding to actual events as they occur.

With that in mind, we are providing you with this information on our business continuity plan. In today's highly complex investment environment, it is important that your financial Account Executive fully understands your particular financial needs and can find the opportunities for growth in a rapidly changing marketplace. Whether you are an individual or an institutional investor, our professionals will tailor financial programs to meet your investment objectives. We utilize independent research and our trading relationships place us in the forefront of the marketplace, allowing us to better serve our customers.

We are an experienced group of highly motivated professionals dedicated to providing the best in personalized financial service to our clients. We are currently interested in expanding our network of sales professionals.

At DMG, we are committed to the highest standards in the securities industry and are interested in hiring only the best individuals. For the right person, a career with DMG can be personally fulfilling, and with our outstanding commission payout schedule, it can be lucrative as well.

If you are a determined entrepreneur dedicated to excelling in your career, then DMG is interested in speaking with you. This sales position entails building and servicing clientele, keeping clients abreast of pertinent market information, maintaining an in-depth understanding of the wide variety of financial products and services that DMG has to offer, ascertaining the financial needs of individual customers, and making suitable recommendations to customers.

A background in business is preferred but we will consider all academic majors. Sales experience is helpful but not mandatory. Candidates will be evaluated on individual merit. To help achieve the excellence we expect from our Account Executives, we make a major commitment to providing advice and guidance.

Each individual will be directly mentored and supervised by Registered Principals of our firm. To prepare for the examinations it will be necessary to receive specialized education from a recommended financial school. DMG Securities will pay the tuition for the financial school. An examination and registration fee is required by the applicant, these fees are reimbursed to the applicant after achieving minimal production benchmarks. No fees are required from veterans of military service.

Subsequently, our extensive mentoring program, conducted by our experienced DMG representatives, will commence with guidance and advice designed to assist individuals from their initial stages in the securities business and provide supplemental training to meet the continuing educational needs of our DMG Account Executives. Although DMG has been in existence much longer, I did not purchase the firm until I am happy to say that in the many years I have owned the firm, not one DMG broker has been sanctioned for a regulatory violation with a customer.

I am proud of that, it is a claim that many other firms are not able to make. It is a testament to how we try to do business. In my career, I have held several high profile positions at a number of firms.

Like thousands of stockbrokers on Wall St. Unlike the thousands of good people in the securities industry who had the same experience, I had the expertise and money to start my own firm. The risk and challenge has proven to be an excellent decision. In a time when large brokerage firms have paid regulatory fines of millions or hundreds of millions, DMG has fared well. In my numerous years of ownership, we have paid a total of twelve thousand five hundred dollars to settle a written supervisory procedure issue.

We used the procedure in question for many years and the previous ownership used the same procedure many years before that. In all of those years there was never a single customer problem, but a regulator felt that unless the procedure was clarified, it had the potential of creating a problem.

In a highly regulated industry, with a dizzying number of rules, we believe our response demonstrates that we respect and are committed to the regulatory aspect of our industry. Our brokers will never have to be concerned about DMG cutting corners and reflecting poorly on them. Public companies are required to publish their financials. We are a privately owned company, therefore we are not required to release our financial information to the public.

However, we are very strong financially. In recent years, many firms have gotten into financial trouble and many had to be bailed out by the federal government just to survive.

DMG has never needed a penny from anyone to stay in business and has always had capital in excess of what is required. It varies with each individual. Typically, after a couple of years, a talented and dedicated DMG broker is in the six-figure range and it could be substantially higher. It can be very lucrative.

We believe we have an outstanding payout plus incentive structure. Personally, in my over 40 years in the industry, I have never had a salary. From my first day as a new stockbroker to present day, my income has always been based on merit.

The right person does not want or need a salary; the wrong person will fail as soon as the temporary salary is removed. There is a finite pool of money to pay brokers and I want to use that money to pay more to successful brokers who are doing a good job for DMG clients. If I offered a salary, it would reduce the amount of money I could pay a more successful broker to subsidize someone less productive. Any successful enterprise rewards production over non-performance, not vice versa. This is America, the most entrepreneurial and opportunity oriented country in the world.

This is the Stock Market, the most entrepreneurial and opportunity oriented business in the world. I want to attract confident, entrepreneurial, opportunity oriented individuals who want to be the best brokers and I want to pay them as much as possible.

There were many, from my parents, teachers, industry colleagues, but probably the most impactful influences came from my coaches. My college coach was an American Record holder and three-time Olympian. They helped develop my work ethic and competitive, never quit attitude. They showed me how to work towards long-term goals while dealing with setbacks and successes along the way. The talents my elite coaches helped me develop have served me well in business. I am excited to see that elite mentality continuing with my son, Jim III, who is coordinating our new broker mentoring program.

Jim competed at a high level both nationally and internationally. When he was younger, he was on a national championship team and was a collegiate Academic All-American. The leadership is in place to continue to cultivate that competitive, never give up, strive to be the best attitude well into the future. Currently, we are a small, one office firm looking to grow. We have management opportunities at the home office and are eager to have the opportunity to open other branch offices.

Our plan is to have future branch offices staffed internally. This will provide upward mobility opportunities for DMG associates. What is the risk of pursuing a career in the securities business? The same risk that you have in any business, you may fail.

But, if you succeed the rewards can be phenomenal. Individuals spend 4 years and hundreds of thousands of dollars for a college education without any guarantee of even a modestly rewarding job. Why settle for less? Even if you do fail, the experience you gain while spending time in this business will benefit you enormously, both personally and in other careers. But, if you succeed, the rewards can be enormous. In my opinion, the risk is minimal, but the reward is great.

In all of my years of experience, the opportunity has never been better. First of all, you need honesty and integrity. We buy and sell for our customers based on conversations, no written contract, just the honesty and integrity of spoken words. I have people that I have trusted for 40 years. If you lie to get one thing, you will lie to get other things, you will lie to clients. But, they would not have been in that predicament in the first place if they had honesty and integrity.

It seems that every few weeks you hear reports of either individual identities or company customer lists being hacked and stolen. We made a decision from the very start to do our best to protect our clients and it was absolutely the right decision. We do not do online business or communicate with our customers online. To my knowledge, DMG has never recommended a single penny stock to a customer.

What have you enjoyed most about your conversations with the candidates you have interviewed? I have found that it is important to get the facts out about DMG because I have learned that there is some false and misleading information on the Internet. It has given me a chance to set the record straight on our outstanding brokers and firm. ORG, a securities regulatory website, which allows you to check the history of any individual or firm in the industry.

I challenge you to find a firm that does the type of business we do that has a better regulatory record than DMG. I challenge you to find a firm that has brokers that have a better regulatory record than the brokers at DMG since I bought the firm in I challenge you to find an owner of a firm that has been in the securities business for over 40 years, in the high profile positions I have held, that has a better regulatory record than I do.