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Frequently Asked Questions

 
 

  • What kind of Broker Dealer is FFS?

    Fortune Financial Services is a limited securities broker-dealer. This means that we offer variable products and mutual funds only.

  • How many independent representatives are registered with FFS?

    FFS currently has approximately 200 representatives nationwide.

  • Which licenses do I need to sell with FFS?

    Our representatives need at least a FINRA Series 6 license (and Series 63 in most states) to sell with FFS.

  • What is the selection of investment and insurance options with FFS?

    When properly licensed, you can offer your clients a vast array of mutual funds, variable life and variable annuities, and fixed insurance products. We have selling agreements with just about every top annuity and fund companies in the industry.

  • How does FFS treat Equity-Indexed Annuities?

    We value the Equity-Indexed Annuity producer. We allow you to work with an independent marketing organization of your choosing, with a payout created to mirror “street level” commissions.

  • Does FFS have a Registered Investment Advisor?

    Fortune representatives have access to an affiliated SEC registered RIA, Prosperity Wealth Management.* We use TD Ameritrade as our custodian. We also have direct agreements with many third party money managers. Being affiliated with the RIA provides you access to various financial planning tools and a technology platform.

  • How does FFS handle traditional fixed insurance product sales?

    We allow our reps that sell these products to have agreements directly with the carrier. We do not require these products to be sold through the broker dealer.

  • Who can I call for service?

    You have full access to senior management that makes the decisions. We are small enough that you can call directly to the CEO and the CCO to get the answers you’re looking for. The management of the firm has all “walked in your shoes” as a financial representative and understands that the sale is your livelihood. Our compliance and support team at the home office treats you with the respect you deserve.

  • How do we submit business?

    We conduct business on a check and app basis directly with the sponsor. All business is submitted to the home office for suitability review and processed within 24 hours.

  • Does FFS utilize the services of a clearing firm?

    Fortune Financial Services conducts our business on a direct basis with the investment company. We do not require our representatives to utilize brokerage accounts. In all other cases, FFS acts as a subscription-way B/D (check-and-app-to-sponsor). We do not conduct business through a clearing firm.

  • What is the cost of joining FFS?

    Representatives are responsible for their annual fees for each calendar year in which they do business with our firm. There are no additional monthly or semi-annual fees. The fee includes the annual required Firm Element (CE) and the annual compliance meeting through RegEd. It includes the cost of your home state FINRA fee. Also, there is no additional fee for us to conduct your branch audit.

  • What is FFS's stance on E&O insurance?

    Fortune Financial Services enables our representatives to purchase the most economical insurance on the market. We insist that our representatives carry minimum coverage of $1 million/$1 million, covering mutual funds and variable insurance products. Our reps are able to purchase the E&O through the insurance company of their choosing.

  • What is FFS's stance on representatives' Web sites?

    At Fortune Financial Services we permit our representatives to use the following three vendors when designing a securities-related Web site: AdvisorSquare, Emerald Publications, and Financial Visions. Representatives' non-securities Web sites must be disclosed to the FFS Compliance Department at least annually for a "securities-content" review.

  • What kind of production minimum will I be expected to maintain?

    Our representatives are asked to produce a minimum of $30,000 in gross securities commissions paid.

  • What kind of payout do you offer?

    We can offer a payout as high as 90%. It’s a flat payout on all products and is determined through your past production.

  • How often does FFS pay commissions?

    Fortune Financial Services pays commissions every Friday by direct deposit.

  • *Investment Advisory Services are through Prosperity Wealth Management. Fortune Financial Services, Inc. and Prosperity Wealth Management are separate entities and are affiliated through common ownership.
 
 
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3582 Brodhead Road | Suite 202 | Monaca, PA 15061 | Phone: 844.792.2428 or 724.846.2488 | Fax: 724.846.0170