Licensee vs Credit Rep - what will it cost brokers? The difference is minimal.
Let's look at that. Assume you're a one-person brokerage. If you're a Pursuit Broker Services Credit Rep, you're paying currently $135 per month and if we assume the Levy is as per the current estimate, a further $114.40 per year for a total of $1,849 per year.
If you're a Licensee, you'll have a Base Levy of $1,000. Assuming you use CompliFast to keep your compliance in check, that's another $600 per year. Your aggregator will likely be expecting to see more than only your self-audit results so let's say you pay for a CompliFast MyQEDFileAudits once per year, that's a further $125 for a total of $1,725.
So, you can see it's fairly cost-neutral. There are some variables in there. If you're currently a Licensee, you need to be aware that your aggregator's Credit Rep fees are probably significantly higher than Pursuit's. On the other side, if you remain a Licensee, your aggregator might have different ideas than merely using QED's audit services at a higher cost than that shown above.
Overall, however, we don't think that cost will really be a major consideration. You should choose to be a Licensee or a Credit Rep (of either Pursuit or your aggregator) for business operational reasons and because it suits you best.