Licensing brokers consultants

Monsieur Benjamin. Mama Huhu. The Progress. Super Duper Burgers. State Bird Provisions. Bini's Kitchen. We'll be in touch soon. Have questions about the licensing process? Looking for help figuring out what license type you need? Need information on what you can and can't do with your license? We've got you. Learn More. Request a call back. It's our pleasure to be of service. Carrie A Peters. Jemma Jorel Lester. Paola Horevicz Hurtado. BDs can be compensated on a success-fee basis and most prefer this business model as it allows them to command higher fees.

One of the benefits of hiring a fundraising consultant is that the company can select a very highly customized skillset. Although it may be harder to find, clients can recruit specialists for the specific objective they would like to accomplish. For example, my former client hired me to be their interim CFO because they required reverse-merger and subsequent capital raising experience—a combination of transactions I worked on in at least three other occasions.

Another benefit of working with a consultant is that they work directly with senior management and presumably, being a seasoned executive themself, can deliver the quality of advice that only senior-level professionals would be able to provide. Several years ago, I consulted with an aspiring manufacturer of generic biologic drugs a. Their strategy was to pursue FDA approval and the plant financing concurrently in order to accelerate the path to market. Such a strategy would have added six to nine months to their path-to-market but would have avoided massive dilution to the scientific founder.

Other benefits of consultants include the costs and ubiquity of the resources they bring to the table. Costs are fairly visible in real time, they are capped by the number of hours or some other measure of work , and they tend to be lower in absolute dollar terms than success fees.

Smaller clients can rely on fundraising consultants as a flexible human resource to help with non-fundraising tasks. For the next round of funding, the company can hire the same consultant or choose another one. Moreover, the adaptive nature of the consulting engagement often allows the company to recruit several contractors at a time with complementary skill sets.

For example, I consulted once for a blood products company that had me work on securing angel and early VC funding, while another consultant was working in parallel to secure grant funding. Among the meaningful drawbacks of working with a fundraising consultant is the cash cost. Consultants tend to be expensive hires compared with traditional employees as their rates often price in the in-between-client idle periods, which make them as much as 3x as expensive as a part-time or full-time employee.

Cash payments made to consultants are not a guarantee that they will result in a capital raise, nor is there a refund if the consultant is unsuccessful. Another drawback relates to unproductive onboarding time. And the company has to carry the expense of this less than fruitful period of the engagement. I consulted with a Canadian healthcare IT company who chose to simultaneously hire three different consultants to drive their capital raise.

One month into the engagement, however, one consultant was still sending the CEO diligence questions and had yet to make an investor call. Lastly, in many cases the relationship with a consultant is non-exclusive.

Therefore, it is not unusual for the consultant to service other clients. Most broker-dealer firms are fairly sizable operations. Even small BDs tend to have several professionals on staff. For example, when I worked in the Equity Private Placement Group at Cowen, a deal team could reach seven people from several product and industry teams. This can be a significant benefit since the breadth and depth of experience brought to the table are relatively large.

The BD team size typically means support personnel may be available in tackling time-consuming, laborious, and otherwise expensive tasks such as industry research or drafting management presentations with exquisite graphics. The strong reputation of a BD can benefit the company because it will add credibility to the capital raise.

Regulators require broker-dealers to conduct a certain amount of due diligence before taking on a client. Hence, a capital raising engagement sends an implicit message to the investor community that the BD has done its homework e. Working with a BD, a company can reasonably expect to have a wider investor outreach. Simple algebra—two or three people on a deal team can reach more investors within a given timeframe relative to one fundraising consultant. Moreover, because BDs calling officers maintain regular contact with investors on multiple deals, they may get their calls returned quicker and get to pitch investors live vs.

While hard to assign a value to, investors know that BDs provide deal flow and will cooperate in order to keep the channel of new opportunities open. Fundraising consultants, who work on only a few deals per year, are unlikely to have such influence over investors. A final benefit of working with BDs is that, because of the nature of the engagement and strings that come attached to it, on certain occasions, broker-dealers may take a long-term view of the capital raising process and help the company raise capital in phases: a small amount now to help the business to get to the next value-creation milestone and a larger amount in several months one hopes at a higher valuation.

Working with broker-dealers is not without its downsides. Institutional BDs are fairly sophisticated in marketing themselves. They tend to master twisting performance and league table stats to show themselves in a more positive light.

Customized and tailored typically requires time, energy, and perseverance with investors, and often this is in conflict with the bottom line. I am now more than happy to offer my knowledge and expertise to help Forex Brokers enter the financial services industry and guide them step by step. Ever wondered how to get an FX trading license? Where to open a Forex brokerage or bank account?

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