Series 65...?

[TonyC]

Anyone have a series 65 license? (Apparently its a license that allows you to earn commissions on a fee basis...)


What are the advantages of the 65?

Do you have to get a sponsor?

thanks in advance!

 

[sman]

Anyone have a series 65 license? (Apparently its a license that allows you to earn commissions on a fee basis...)


What are the advantages of the 65?

Do you have to get a sponsor?

thanks in advance!

If you are going to be in the securities business, I strongly urge yout to get at a minimum the Series 6, 63 & 65.

The series 65 will allow you to offer fee based advice and do managed accounts. This seems to be the trend of the industry (to move more towards fee-based and/or % of AUM charges). I personally have moved my investment business more towards this.

The advantages are a continued income stream. With managed accounts, you can build a portfolio for a client that closely matches the expense of a B-Share with most load mutual fund companies. However, you are able to develop this portfolio using most any no-load and load waived fund in the industry. With the proper research, you can develop a very nice portfolio. I personally use FundQuest. They have a couple of white papers they've released on passive vs. active approach and retirement income management. You can get a copy here:

Welcome to FundQuest Inc

To take the test, you have to be a RIA with your state or register under someone else's RIA. Most broker dealers are also RIA's. So if you have a BD, you can just have them open up a testing window for you and take the exam.