There are three ways of compensating CPAs or CPA firms for referrals to Hilliard Lyons. Key features are summarized in the following table.
State law governs.
Most require Series 65 held by CPA firm. Most states require Series 65 held by Hilliard Lyons. Brokerage Supervision Hilliard Lyons provides all, including continuing education. State law governs. There may be some supervisory responsibility for Hilliard Lyons.