Series 6?

[Advisor06]

Does anyone have or know anything about getting their series 6?

Difficulty?
Cost?
Is it worth it?
How much to maintain?
Etc?

 

[xrac]

Does anyone have or know anything about getting their series 6?

Difficulty? Not difficult if you are fairly intelligent.

Cost? Not expensive to get but expensive to maintain. Classes, study material, fees, etc. a few hundred.

Is it worth it? Not in my opinion and I have had the 6.

How much to maintain? You will pay about $2,000 per year for E&O. Plus you will give up a haircut on most stuff you sell if it goes through your broker dealer. It will cost you time and grief and money for compliance. You will give up the freedom to do a lot of things.

Etc?

 

[Golfnut2112]

Does anyone have or know anything about getting their series 6?

Difficulty?
Cost?
Is it worth it?
How much to maintain?
Etc?

It is worth it if you are going to sell mutual funds and variable annuities, one $50,000 investment will pay most of your cost for the year. The investment side of the business is more hands on but worth it, with me I have a closer relationship with my investment clients just because we talk more. Another thing is most people would rather talk about investing than insurance. Some of my largest life cases came as a result of RMD distributions. I also have my 7 which is not worth it to me.

 

[cook920]

Difficulty? Not hard...just score a 70
Cost? Not expensive (I studied on my own)
Is it worth it? ( Depends on your business model)
How much to maintain? Can't remember, I only kept it a few years
Etc? Dropped it last year, too much compliance and my market changed.

Go for it. You won't know until you try it for yourself. I made money with it and money without it.

Let us know..............

​

 

[nyc2phi]

Even some p&c shops want you to have it now adays and if you are looking at life, places like pru, met, axa, etc. they will make you get it. I have my 7 and 66 but might lose it if I don't find a firm to hold them by november

You have to be sponsered by a registered company to get it.

What is it that you want to do ?

 

[Golfnut2112]

Even some p&c shops want you to have it now adays and if you are looking at life, places like pru, met, axa, etc. they will make you get it. I have my 7 and 66 but might lose it if I don't find a firm to hold them by november

You have to be sponsered by a registered company to get it.

What is it that you want to do ?

I had a friend park his a quest capital. I really don't know much about them except they are in California.

 

[VolAgent]

I had a friend park his a quest capital. I really don't know much about them except they are in California.

I recall reading about a firm that got in quite a lot of trouble over people parking their licenses. FINRA expects you to produce if you are registered. After all, they need you to generate fees for them to collect.

 

[cook920]

Yeah, I spoke with Quest a few times and started to go with them at the end of 2011. It was a little over a grand to get started and I believe their system was going to cost about $40/month.

You didn't have to take their E&O either. You can get/keep your own. I have had broker/dealers in the past force you to take their E&O.

Commissions according to production wasn't bad.......wasn't great either. I just decided to go where my market was going.

There are quite a few others besides Quest available if I remember correctly.

 

[Golfnut2112]

I recall reading about a firm that got in quite a lot of trouble over people parking their licenses. FINRA expects you to produce if you are registered. After all, they need you to generate fees for them to collect.

You got that right!!
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I recall reading about a firm that got in quite a lot of trouble over people parking their licenses. FINRA expects you to produce if you are registered. After all, they need you to generate fees for them to collect.

You got that right!! I would have to say if you are not doing at least $10,000 GDC it is time to let it go.