Do You Need a Securities License to Move Money

[stonegator]

If I have a prospect who wants to place some or all of his 401(k) money into an annuity (qualified), how do I accomplish this if I don't have securities license? I know folks can do it, but how do they get around this?

 

[scagnt83]

If I have a prospect who wants to place some or all of his 401(k) money into an annuity (qualified), how do I accomplish this if I don't have securities license? I know folks can do it, but how do they get around this?

Nothing to "get around" (with current regs at least).

You simply do a Direct Transfer of Funds from the 401k to the new IRA/Annuity.

But if you do not know this are you sure you are actually qualified to "help" this prospect? You had better know what you are doing when it comes to a persons life savings.... Id suggest you find an experienced agent to split the case with and learn from.

Would you want someone "learning as they go" with your own hard earned life savings? Probably not...