New Licensure As a Retirement Advisor

Discussion in 'Retirement Planning Forum' started by topseller, May 20, 2017.

  1. topseller
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    topseller Member

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    I was recently told that the DOL now requires you to get a series 65(min) to be able to advise any retirement planning. You cant sell 403b ( fixed annuity) without one. Anyone care to elaborate?
     
  2. DHK
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    DHK Well-Known Member

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    Rumors. No, you don't need a series 65 to give retirement advice, nor do you need one to be a fiduciary to sell fixed indexed annuities for qualified plans. You WOULD need a Series 65 and RIA affiliation (or Series 6/7/63 with broker/dealer affiliation) to give advice regarding SECURITIES - namely buying, selling, holding, or any analysis of securities portfolios.

    Lots of gimmicks trying to recruit agents to join RIAs and sell managed money.

    And until the DOL ruling is actually in EFFECT, it doesn't matter yet.

    Don't forget what getting a series 65 and the requirements all entail too:
    http://www.insurance-forums.net/for...ating-financial-planning-aum-fees-t87666.html
     
  3. topseller
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    topseller Member

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    Thank you for the info
     
  4. Nicole Phillips
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    Nicole Phillips Member

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    Well from what I can remember, selling fixed annuities does not require a Series 65 credentials. If you wanted to sell variable annuities that would be a different issue. You would need it. I was amazed to learn that 10,000 could get me started with an Annuity. I have never had 10,000 at one time before but I have had about 5000. That gives me hope that one day I will be able to say that I had 10,000 at one time. It may seem like that is TMI (to much information) but I am a BIG DREAMER! I ALSO KNOW IT WILL HAPPEN.
     

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