What Licenses Do You Need to Sell Financial Services

[maksim]

most entry level guys get the 6 and 63, 6 lets you sell mutual funds, 63 is state laws, 65 for fee based. 66 is combined.

any wirehouse, or even amp will require 7 and 66. 66 is the equivalent to 63+65.

with the 7 you can do most of all investment products with the exception of managed futures.

with the 66, you can do fee based.

most insurance companies just want guys to get the 6, as it is easier, and they dont want to take the focus off of insurance by guys looking into other investment vehicles.

 

[DHK]

Sorry Maksim, but the 63 is for state requirements regarding Blue Sky Laws.

You might want to edit your post.

But you're right: most insurance B/Ds will sponsor you for your Series 6. Most go the path of: 6/63/65

The 66 or 65 allows fee-based business - either through planning fees or AUM fees. The 66 requires the series 7. The 65 can be done on its own, but can also complement the series 6/63 or 7/63.

Most wirehouses will require 7 & 66 or 7/63/65.

 

[maksim]

dhk, thanks for that correction. As you can probly tell, I came from a wirehouse world. =)

I did a short stint as a manager at Mass Mutual, where they wanted agents to get the 6.

 

[jmhopkins40]

I know that this is an insurance forum, but what licenses do you need to sell the complimentary financial services that would accompany a life insurance sale?

-S

some products require no specialty license and still offer hugh commissions