Passing the Series 65 Exam

[0b1kanobee]

Thanks Peter. I know that is what it means. In the context it was written, I thought it stood for the FINRA Police or something based on the comment that agents would have to get 65 license to transfer monies out of a brokerage account. I thought it stood for something i hadn't heard of yet so I was confused.

ON THAT NOTE PETER
Do you think that agents are going to have to have a 65 license to transfer certain funds or get in trouble? It isn't against the law that I know of. However, one carrier sent me an email saying they basically won't take any business from an agent who doesn't have a securities license. HOWEVER they are doing it still everyday. What's the scoop?

 

[Norwayguy]

Thanks Peter. I know that is what it means. In the context it was written, I thought it stood for the FINRA Police or something based on the comment that agents would have to get 65 license to transfer monies out of a brokerage account. I thought it stood for something i hadn't heard of yet so I was confused.

ON THAT NOTE PETER
Do you think that agents are going to have to have a 65 license to transfer certain funds or get in trouble? It isn't against the law that I know of. However, one carrier sent me an email saying they basically won't take any business from an agent who doesn't have a securities license. HOWEVER they are doing it still everyday. What's the scoop?

Which carrier? Source of Funds seems to be the SECs next big thing...It makes sense that if I am not licensed to give advice on save a Variable annuity I should not be recommending that they move out of that and into my product...However I should still be able to recommend they purchase my product and they make the choice of where the funds come from to fund it....fine line I don't know...I know I recently dropped my securities registration however I have thought about picking up the series 65 if this become an issue...I just hate getting back on the FINRA bad wagon even a little bit.

 

[0b1kanobee]

Which carrier?

National Life Group

 

[TexasSteve]

There are so many online insurance training services, I'm not a hugely technical person, and prefer a face-to-face environment. I discovered a great Texas based Life and Health Insurance Training and CE Classes resource in Texas Educational Services. BJ Sims is very personable and patient, and offers in-person training.

 

[Oldschool56]

I can also vouch for this program ^^^ good stuff

 

[rkhoytinsurance]

How can I take the 6 and 63 as an independent agent? Don't you need a "sponsor" in order to sit for these tests?

 

[scagnt83]

How can I take the 6 and 63 as an independent agent? Don't you need a "sponsor" in order to sit for these tests?

You need a Sponsor for those, as well as the 7.

 

[Tkruger]

You need a Sponsor for those, as well as the 7.

To further you need a sponsor from a Broker Dealer. A series 7 isn't required to obtain sponsorship for a 6 and 63.

Due to the fact that I just went through the process myself, you should consider going straight to the 7 vs. the 6. A Lot of overlapping material covered to get the 6 just to do it all over again to get the 7.

 

[rkhoytinsurance]

Thank you very much for the responses. Now I just need to find a sponsor.

 

[scagnt83]

To further you need a sponsor from a Broker Dealer. A series 7 isn't required to obtain sponsorship for a 6 and 63.

Due to the fact that I just went through the process myself, you should consider going straight to the 7 vs. the 6. A Lot of overlapping material covered to get the 6 just to do it all over again to get the 7.

I didnt mean to imply that a 7 was required for a 6/63. I meant that you need a Sponsor for the 7 as well.