Series 65? Should I Get It?

[Yagents]

Series 65 - may be required soon of everyone in the securities business soon, watch the recent news updates on Dodd Frank implementation. Fiduciary is the new buzz word.

Series 6 - Most BD's require 100k production, that's not assets, that's commissions. Good luck doing anything but securities "production" if you get hooked up with a BD

65 requires a lot more compliance nowadays due to Dodd Frank, to the point that I did not register my RIA this year since I'm no longer managing assets and the 2k no longer made sense.

Best model = Fee offset. Health insurance is the best door opener, spin them to an HSA, talk other assets, charge a fee to manage the assets, place all insurances, offset your fee by the amount of commission. Client for life

With a 65 and insurance license, you can sell everything in the world and get paid on everything (fee or commission), except a variable annuity and variable life. There are no load 529's that you can charge a fee.

 

[fvda_tradepmr]

I agree with the earlier posts. To determine what registration is the most appropriate (e.g. Series 6, Series 65) you first have to determine what type of securities practice do you want to build? If you want to charge fees for your advice, then a Series 65 is the way to go. If securities will always have a small role in your practice then perhaps a Series 6 is the best approach. It does seem however most Independent Insurance Brokers are considering more often the RIA model because in their mind that is the "Independent Securities Model."

You may certainly offer Variable Annuities and Variable Life. More insurance companies are venturing into this product area to be used by Fee-Only RIAs although the product selection isn't large but slowly growing. One company for example which offers a Fee-Only VA and VL is Ameritas. There are others.

 

[DHK]

Thanks for posting Fred! Don't be a stranger!