Anyone worked for State Farm? A recruiter contacted me abt taking over a book of business in my area. I am wondering if I could do that and also be RIA?

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For them to allow an OBA that was an RIA, you would have to be bringing a HUGE track record to the table. Even then, you will tear out your hair and your eyeballs dealing with compliance over your independent RIA . . . until you either leave or shut it down.

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That plan will not work. You would be an employee of State Farm, you would be securities licensed through them, and it's FAR from a part time job. They would almost certainly not allow you to maintain an outside RIA.

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K that's what I thought. It was a long shot idea.

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I think it is about as good of a captive setup as there is, though. I understood that it is a contractor relationship but I'm sure they wouldn't allow an OBA.

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I heard state farm was getting out of advising, and focusing on just insurance again. Can anyone confirm?

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Yes. They outsourced all the service on their mutual fund clients to a call center

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My father was with State Farm for 50 years.
My brother is an agent for 20

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