Who Will Hire Agent with Recent Bankruptcy

[duncan65]

I am looking to change companies, but will I have few to choose from with a recent Bankruptcy?
The companies I would like to apply at are:

Metlife
NWML
Mutual of Omaha
MassMutual

If any one knows which of any will look at me with a BK please let me know. I do not want to apply and then be embarased.
Thanks

 

[moonlightandmargaritas]

For any that require you to get securities licensed (Series 6/63), it will be a problem.

It looks like your entire list.

 

[duncan65]

Do you have to get securities license immediately with these, or can you wait until credit rebounds?

 

[moonlightandmargaritas]

Usually have to get it within like 90 days.

 

[duncan65]

Even Mutual Of Omaha, when I talked to an agent there he told me that if they are dealing with a customer and need a securities license, the manager goes back with them and transfers the money. Also how long after a BK, asumming I stay on track with credit could I get my securities License?

 

[djs]

For a securities license, I have no idea what the credit requirements are. I also don't think they are cut and dry. In some cases, you can explain problems.

The real problem you have is it isn't just FINRA/NASD/SEC rules. You also have the various broker dealers, states, etc. The only way to really know is to be upfront with the hiring manager and simply ask. They run into this all the time, especially nowadays.

I doubt MoO will touch someone if they can't get securities licensed. I could be wrong..... They might work something if it is a short time while the person is working on their license, being careful not to violate any of the rules.

Dan

 

[legendrider]

checked with an attorney regarding this. The SEC can and will issue a license with a Bankruptcy. It is a matter of law. sorry cannot remember the federal statute he quoted. What you are dealing with is company policy. With a poor credit backround, you are considered a risk of commiting acts of fraud to earn income. You need to be uprfront disclose your credit and reasons for it right away. You will have to validate your histroy somehow. Illness, accidents, family matters, divorce. etc.

 

[IvyLane]

thanks legend, I am about to go through a similar situation and dont want it to prevent me from being appointed

 

[jwright29]

Western Southern Life will allow you to camp out there with bankrupcy...then when you are ready to try 6/63 they will support you. Try them.

 

[Thatguy]

I am looking to change companies, but will I have few to choose from with a recent Bankruptcy?
The companies I would like to apply at are:

Metlife
NWML
Mutual of Omaha
MassMutual

If any one knows which of any will look at me with a BK please let me know. I do not want to apply and then be embarased.
Thanks

MWML will give you time to get a Securities license; but most of the offices (in my experience) will not touch you with a recent bankrupcy. They are very hoity toity about their agents. You might be able to do a broker contract, but their commission sucks on a Broker contract. MassMutual will be the same.

Probably best to just do regular life until your credit increases. Or if you are bound and determined to do securities, try getting in an independent agency who will let you do this. Most of them have the word "Financial" in their name.