- 711
I got my 7/66 when i was 22. I wish I never would have got the stupid thing but I didn't know any better. Get the 65 but please listen to what others are saying and skip the 7.
Question Regarding Series 6, 63, 7 and 66. New Agent Plz Haalp
- Thread starter insurance_Tycoon
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- Thread starter
- #12
insurance_Tycoon
New Member
- 16
Honestly at my age with the experience I have. I have no business getting a series 7 and 66. I think I'll stick to a 6/63 for now. Maybe once I get really good I can start charging fees for my services but I'm just lucky to make a sale given my age and experience.
There's fees with the 6/63 as well. E&O can be stiff depending on what your B/D requires.
Depending on your B/D, unless you plan to do a good bit of M/F or VA business, it might not be worth having right now. I know several folks that have dropped their 6/63 licenses due to the costs to maintain being as much or more than they were making. Some B/D's also limit what you can sell, or take a cut of the ins business you write as well.
You should get all the info up front, and all your questions answered before running down that road. Not saying don't do it... just make sure you are well informed first. Good luck
Depending on your B/D, unless you plan to do a good bit of M/F or VA business, it might not be worth having right now. I know several folks that have dropped their 6/63 licenses due to the costs to maintain being as much or more than they were making. Some B/D's also limit what you can sell, or take a cut of the ins business you write as well.
You should get all the info up front, and all your questions answered before running down that road. Not saying don't do it... just make sure you are well informed first. Good luck
- 1,953
Get the series 65 and if age is an issue for you then just team up with an older IAR.
- Thread starter
- #16
insurance_Tycoon
New Member
- 16
But if I got the 65 then would I still be able to sell? Or does it just enable me to "give advice for a fee". what exactly does the 63 allow me to do that the 65 won't allow me to do?
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- 11,305
Insurance tycoon...
If you are going to be with a career agency... you won't have much choice in what licenses you are to get.
Obtaining a series 65 without any training... is dangerous.
Yes, the series 7 had costs and fees. Yes, the compliance is a nightmare... but you need training. I wouldn't have a series 65 without having had experience as a series 7 holder.
If you already know how to gather AUM... then you can be an independent agent and form your own RIA. If not, then you need training.
The series 63 is the uniform state law examination. The series 65 is about the investment advisors act of 1940. The series 63 is required with a series 6 or 7.
Take an offer. Get your licenses. Get to work. Learn and adjust your course as you go. This is a career you could have for the rest of your life. No need to seek 'perfection' at the start.
If you are going to be with a career agency... you won't have much choice in what licenses you are to get.
Obtaining a series 65 without any training... is dangerous.
Yes, the series 7 had costs and fees. Yes, the compliance is a nightmare... but you need training. I wouldn't have a series 65 without having had experience as a series 7 holder.
If you already know how to gather AUM... then you can be an independent agent and form your own RIA. If not, then you need training.
The series 63 is the uniform state law examination. The series 65 is about the investment advisors act of 1940. The series 63 is required with a series 6 or 7.
Take an offer. Get your licenses. Get to work. Learn and adjust your course as you go. This is a career you could have for the rest of your life. No need to seek 'perfection' at the start.
