65 66 63? What's a New Agent to Do

[supersupps]

Take the 65 seriously. It's a lot harder than the 6 or 63. If you don't have the 63 you can take the 66 instead and that knocks out both the 65 and 63. Good luck!

is the 66 superior to the 65? are these really necessary for an agent that willl only do fixed indexed annuties? how hard is it to pass? I assume there is on line for the training for this?

 

[iceco1d]

None of these licenses are required to sell fixed, immediate, or fixed indexed annuities.

The 66 covers the 63 and 65, but has the S7 as a pre-req. So if you just want to do advisory as an indy RIA, just get the S65. If you want to do brokerage and/or sell funds/VAs/etc. for a commission, you need a 6 or 7 (get the 7 and then couple it with the 66).

 

[DHK]

The Series 66 combines the series 63 and 65 into one exam. It is not "superior" to the series 63/65. They are equal. However, it's probably easier to pay for and study for one exam instead of two. The Series 66 is no joke. Get good study materials to help you pass the first time. I've heard good things about Training Consultants. So has FINRA - which is why they recently sued them.

They are not (currently) necessary for someone who wants to ONLY do fixed indexed annuities. Laws & regulations may change.

 

[iceco1d]

The Series 66 combines the series 63 and 65 into one exam. It is not "superior" to the series 63/65. They are equal. However, it's probably easier to pay for and study for one exam instead of two. The Series 66 is no joke. Get good study materials to help you pass the first time. I've heard good things about Training Consultants. So has FINRA - which is why they recently sued them.

They are not (currently) necessary for someone who wants to ONLY do fixed indexed annuities. Laws & regulations may change.

If he doesn't have the Series 7, he cannot take the Series 66.

 

[DHK]

I did it. I took the series 66 before I took the 7. You cannot complete a FINRA registration to sell securities - either fee-based or commission-based until you have completed both exams.

Basically, to take the series 66, you need to be sponsored by a B/D - because B/Ds also sponsor you for the Series 7.

If you're not affiliated/employed by a B/D, then just take the series 65.

 

[iceco1d]

I did it. I took the series 66 before I took the 7. You cannot complete a FINRA registration to sell securities - either fee-based or commission-based until you have completed both exams.

Basically, to take the series 66, you need to be sponsored by a B/D - because B/Ds also sponsor you for the Series 7.

If you're not affiliated/employed by a B/D, then just take the series 65.

Well I suppose if you want to get technical about it, you can TAKE the Series 66 without the Series 7, but you cannot USE IT without the Series 7.

And technically, you don't need a sponsor for the Series 66. You only need a sponsor for the Series 6 and/or 7.

 

[defenderzeta]

What is the value of a 65? Can I sell IRA's with it? How do I convert it into money?

How do you make money as a Registered Investment Advisor (RIA) with your 65?

 

[Norwayguy]

What is the value of a 65? Can I sell IRA's with it? How do I convert it into money?

How do you make money as a Registered Investment Advisor (RIA) with your 65?

You can charge fees to manage money or make investment recommendations. You can charge fees for the creation of a financial plan.

 

[DHK]

You have the privilege of producing financial plans and making financial recommendations as a fiduciary. Look up that phrase before proceeding with S65 licensing.

All other licensing (insurance & securities) is based on the suitability standard.

 

[iceco1d]

You can do financial planning without any licenses at all. The Series 65 allows you to provide investment advice for fee as a fiduciary.