I'm currently with Merrill Lynch for about a year and not making the hurdles. I feel my time is limited and I am considering a ove back to mortgages, where I came from. I'd like to still try to sell life and annuities on the side(If possible). I don't want my series 7,66 and L&H licenses to expire. I can make a living and pay the bills immediately with mortgages, but would like to build a residual income on the life side and go full time when the time is right (If ever) ....Where would you hang your hat/licenses in the interim?
Mortgages and Insurance
- Thread starter RM1968NJ
- Start date
Not many decent BDs are interested in letting you park your registrations. They want business, and they consider you a compliance risk if you're not doing at least 50k to 60k in GDC.
The same is true with life insurance companies, but to a lesser degree.
The same is true with life insurance companies, but to a lesser degree.
- 8,707
Larry Tew said:
I second what Larry says not to mention you have to get the B/D to approve of you outside business ie mortgage sales. There are some more insurance friendly B/Ds with lower production requirements but if your not going to be producing much is it worth the expense 2-3k and added compliance nightmares.
Second question is if you can make this killing in mortgages why did you leave? I know a lot of mortgage brokers have been switching to insurance because the volume of mortgages have slowed.
- Thread starter
- #4
FireDragon
Expert
- 38
You might want to look at staying in the life and investment world if you were with a decent company. I know a couple guys who couldn't succeed at Merrill because of the culture, lack of support, etc and since leaving for another firm have made a TON more than they did at Merrill. The impression that I get about Merrill is that they don't have a culture that helps individual advisors be successful in today's world. Not saying they're shady or have super low commissions, I think the company just needs to change their models for what they ask of their advisors.
- 11,471
The OP posted this over 4 years ago. Based on FINRA rules, if they didn't find a place for their licenses after 2 years of leaving their firm, the licenses expire and would have to be re-taken if they want to be licensed again. Of course, for L&H, just complete your CE and send in your payment.
FireDragon
Expert
- 38
Maybe he is still thinking about making the move back to mortgages, or maybe I was making a general point about Merrill Lynch...
insuringindia
New Member
- 7
May be move back to mortgages
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