Help & Training

Cross Channel Movement (Broker Dealer to RIA or RIA to Broker Dealer)

One of the biggest trends in this industry are Breakaway Reps. Breakaway Reps are reps that leave their Broker Dealer and are now “RIA Only”. Many clients like to handle this movement in their CRM to allow their RIA team to focus on incoming targets.

To process cross-channel movement, you would need to utilize both BD Rep and RIA Rep datasets. If a “Call by Delta Date” request includes a “D” record in the BD Rep dataset, it means the rep is no longer registered with that Broker Dealer. Check the RIA Rep dataset and see if you see a “N” or “C” in the RIA Rep dataset for that Rep, it would indicate that the rep is now RIA Only. We suggest processing this move if your firm is interested in targeting this rep at their new RIA. We also recommend checking the reverse (RIA to BD), but it is much more common in this industry for reps to leave a Broker Dealer and move to RIA. If your firm is not interested in moving Reps to new Firms and loading in a duplicate Rep at their new firm, we recommend that you mark the Rep at the old firm as inactive and load the new Rep as a new record at the new firm.

To learn more, contact DD_datalinksupport@issgovernance.com.