How to connect with a Series 7 license holder / RIA / Securities Broker
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Joshua ChristensenPro Member
Real Estate Broker · Albuquerque, NM · Member since 2015 · 285 posts · 232 votesHave you been on LinkedIn to identify?
You need someone independent. They are all FINRA licensed and have stipulations on what they can and can't market and sell. They need to be able to offer Private Placements.
Have you looked at some of the Crowdfunding platforms online to market your offering? There are several real estate platforms.
9 Replies
- 2yJoshua ChristensenPro MemberReal Estate Broker · Albuquerque, NM · Member since 2015 · 285 posts · 232 votes
Have you been on LinkedIn to identify?
You need someone independent. They are all FINRA licensed and have stipulations on what they can and can't market and sell. They need to be able to offer Private Placements.
Have you looked at some of the Crowdfunding platforms online to market your offering? There are several real estate platforms.
Hi Joshua Christensen,
I'll look some more on LinkedIn. So far I found a couple people but not someone independent yet.
Correct, this would be a private placement.
Posting on a crowdfunding platform is not the route I wish to go as I plan to make my Series offerings on my own platform.
The key that I am seeing so far is that most (virtually all) brokers/RIAs do not have the software in place for handling fractional real estate. So I am having my own software developed to provide the broker a turnkey solution to selling my securities.
Essentially, I am looking for a broker to joint venture on a new crowdfunding style platform.- 2yJoshua ChristensenPro MemberReal Estate Broker · Albuquerque, NM · Member since 2015 · 285 posts · 232 votes
Quote from @Robert L.:
Hi Joshua Christensen,
I'll look some more on LinkedIn. So far I found a couple people but not someone independent yet.
Correct, this would be a private placement.
Posting on a crowdfunding platform is not the route I wish to go as I plan to make my Series offerings on my own platform.
The key that I am seeing so far is that most (virtually all) brokers/RIAs do not have the software in place for handling fractional real estate. So I am having my own software developed to provide the broker a turnkey solution to selling my securities.
Essentially, I am looking for a broker to joint venture on a new crowdfunding style platform.Gotcha. I'd love to hear how it fairs for you. I've thought about that myself and hope to establish something at some point down the road.
- Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes2y
@Robert L.
Dalmore will act as your BD for compliance (need an intro let me know). But they typically will not lead a sales effort they are compliance only
If you want a BD to sponsor it - that is a big task. We got a BD agreement because my co founder knew a RIA.
Best to just reach out but make sure to have a good pitch deck in place
. Happy to chat offline.
Also recognize that it’s a pay to play space and if you are first time working with them the fees are high.
7e investments53 Reviews Quote from @Chris Seveney:
@Robert L.
Dalmore will act as your BD for compliance (need an intro let me know). But they typically will not lead a sales effort they are compliance only
If you want a BD to sponsor it - that is a big task. We got a BD agreement because my co founder knew a RIA.
Best to just reach out but make sure to have a good pitch deck in place
. Happy to chat offline.
Also recognize that it’s a pay to play space and if you are first time working with them the fees are high.
Hi Chris,
Thank you for the input. I am familiar with The Dalmore Group. Dalmore seems to be one of the only (or very few) companies which have a platform developed which provides the seller a front end website designed for fractional real estate while having a backend for Dalmore to process transactions. My goal is to find a RIA like you and your co-founder found. I would then provide the RIA with the software platform so they can act as the BD and handle compliance, while I handle the sales on the frontend website. I feel it is a great opportunity for a small or private RIA to handle compliance on my securities without the need for complex software development.
My background is in website development, real estate investing, STRs and new construction. Fractional real estate investing appears to be having a renewed interest and growth over the last few years so I am transitioning into fractional real estate investing in new construction luxury STRs.
- Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes2y
Quote from @Robert L.:
Quote from @Chris Seveney:
@Robert L.
Dalmore will act as your BD for compliance (need an intro let me know). But they typically will not lead a sales effort they are compliance only
If you want a BD to sponsor it - that is a big task. We got a BD agreement because my co founder knew a RIA.
Best to just reach out but make sure to have a good pitch deck in place
. Happy to chat offline.
Also recognize that it’s a pay to play space and if you are first time working with them the fees are high.
Hi Chris,
Thank you for the input. I am familiar with The Dalmore Group. Dalmore seems to be one of the only (or very few) companies which have a platform developed which provides the seller a front end website designed for fractional real estate while having a backend for Dalmore to process transactions. My goal is to find a RIA like you and your co-founder found. I would then provide the RIA with the software platform so they can act as the BD and handle compliance, while I handle the sales on the frontend website. I feel it is a great opportunity for a small or private RIA to handle compliance on my securities without the need for complex software development.
My background is in website development, real estate investing, STRs and new construction. Fractional real estate investing appears to be having a renewed interest and growth over the last few years so I am transitioning into fractional real estate investing in new construction luxury STRs.
FYI, the RIA will not act as a B-D. Two separate roles. We have a B-D (who was introduced to us through a RIA).
If you are doing the Regulation A+ the B-D will mostly require a FINRA approved platform for raising capital. So if you are creating your own platform, you may have to go through some hurdles to make sure it complies with all FINRA regulations.
They most likely will also require an escrow agent to distribute funds.
7e investments53 Reviews Quote from @Chris Seveney:
Quote from @Robert L.:
Quote from @Chris Seveney:
@Robert L.
Dalmore will act as your BD for compliance (need an intro let me know). But they typically will not lead a sales effort they are compliance only
If you want a BD to sponsor it - that is a big task. We got a BD agreement because my co founder knew a RIA.
Best to just reach out but make sure to have a good pitch deck in place
. Happy to chat offline.
Also recognize that it’s a pay to play space and if you are first time working with them the fees are high.
Hi Chris,
Thank you for the input. I am familiar with The Dalmore Group. Dalmore seems to be one of the only (or very few) companies which have a platform developed which provides the seller a front end website designed for fractional real estate while having a backend for Dalmore to process transactions. My goal is to find a RIA like you and your co-founder found. I would then provide the RIA with the software platform so they can act as the BD and handle compliance, while I handle the sales on the frontend website. I feel it is a great opportunity for a small or private RIA to handle compliance on my securities without the need for complex software development.
My background is in website development, real estate investing, STRs and new construction. Fractional real estate investing appears to be having a renewed interest and growth over the last few years so I am transitioning into fractional real estate investing in new construction luxury STRs.
FYI, the RIA will not act as a B-D. Two separate roles. We have a B-D (who was introduced to us through a RIA).
If you are doing the Regulation A+ the B-D will mostly require a FINRA approved platform for raising capital. So if you are creating your own platform, you may have to go through some hurdles to make sure it complies with all FINRA regulations.
They most likely will also require an escrow agent to distribute funds.
Very good to know. "Securities" is a new area for me so I appreciate the insight.
- 2yMelanie P.Pro MemberRental Property Investor · Member since 2023 · 1k+ posts · 922 votes
Are you working with an experienced securities lawyer on setting all this up? They could save you a lot of time and keep you legal. If you're doing this in Florida try Foley and Lardner.
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