Seems to be a gamble to me. If a complaint ever arose, how would you prove you didn't give them securities advice? I've thought of drafting a CYA letter to have clients sign, but still don't know if that'd hold any weight. The problem with getting securities licensed having no intentions of writing securities business is most BD's won't just let you park your license there without a minimum GDC. Plus, then you're paying higher E&O to cover the sales and service of securities, even though you're not selling them.