Parking Securities and Insurance Licenses

[prop312]

Looking to park my licenses for awhile.

Series 7, 63, 57

Life/Health Insurance in 10 states or so

Wiling to pay to do so or if firm that has minimal production requirements can meet those, anyone with a line or advie on this

Thanks!!

 

[Cornelius]

Insurance license is easy. I'm many if not all instances it just keeping your resident license active. Just keep your CE up to date and as far as nonresident states just pay the renewal fees.

As for securities that might be a challenge because I heard there was something like a two year window to be affiliated with someone.

 

[walthamny]

Go get your series 65 or series 67. There is no way to park the rest of the security licences. You will loose them at the 2 year mark of not being registered with a FINRA firm. Each Finra firm has production requirements so you cant just park them anywhere. However series 65 will allow you to charge a fee for financial plans and collect AUM fee and it will never expire and it does not depend on you being a member of Finra or not

 

[bernardcoghlan]

Sorry for reviving this thread. Anyone had any FINRA problems recently?

 

[DNicholsIns]

If anyone received a FINRA 8210 letter, here's what you should do: https://www.jdsupra.com/legalnews/i-received-a-finra-8210-letter-now-what-5734433/

 

[DHK]

Anyone had any FINRA problems recently?

Just these people:

Monthly Disciplinary Actions | FINRA.org

www.finra.org

 

[walthamny]

When you receive 8210 letter, you need to tell your BD right away. You should also call your Error & Ommission INsurance carrier. Its usually due to some customer filing a complaint against you. But sometimes it could be everyone at the BD is being investigated.