Series 6/7 Licensing Procedures

[Lifebga]

Does anyone here have experience with series 6/7 licensing procedures?
I have two associates who are retiring from their captive company, where they both worked for 25 years. Both desire to hold on to their series 6/7 licenses. However, they are not actively selling any securities products at this time.
Does anyone know of a broker dealer who will allow to “park” the registration [for a fee] even if they are not doing business?

 

[DHK]

"Parking" is illegal.

However, there is one B/D I know of that allows part-time representatives: Quest Capital

If you look them up on brokercheck, you'll see that they had a regulatory event for "parking" licenses.

If you're going to have the licenses, and you're going to be subjected to a B/D rules and restrictions... you should be actually doing business that's profitable for you. If not, don't bother.

 

[pfg1]

To my knowledge, most B/D's will have minimum production AND require E&O. Several folks I know recently let theirs go... the cost to keep em was too high to justify, not being active in that portion of the business.