You first must decided what type of business you want to do, and with whom you want to do it with.
If you're going to do a general securities business then you have to decide how you're going to enter your trades and with whom and most importantly how you're going to clear your trades.
Are you going to have sales reps or are you going to do it on your own. If you have sales reps, you will have to subscribe to services, equipment, facilities and provide broker's insurance for each rep (this is not health care, it brokeasge insurance).
What type of securities will you be doing and in what markets will you be active in. Small firms DO NOT neeed memberships in exchanges so there's no need to buy a seat (most firms are not exchange members)
I've spent at least twenty five years of my 45+ years in the industry establishing broker/dealers (including my own).
In order to properly respond to your question there are a lot more details needed.
Come back to YA once you get your act together and have all the particulars in place
"Steve D" Your numbers are totally off the wall as well as some of you "facts" You DO NOT need $250,000 for a minimum reserve and it not be in the form of cash AND you join FINRA as a member there is no "certifications" required..
I hope you have millions of dollars. And a FINRA license and certification. Minimum reserves are $250,000 (cash not borrowed). Your seat on the NY, AMEX or NASDAQ are going to be a few hundred thousand more. You will need a permanent address (not your home), salespeople, etc.
All told, you will need millions of dollars.
If I was to attempt to start-up my own brokerage firm, where would I begin to make a budget for this operation?
Also, do you know what the average cost to establish a small firm would be?
