New Licensure As a Retirement Advisor

[topseller]

I was recently told that the DOL now requires you to get a series 65(min) to be able to advise any retirement planning. You cant sell 403b ( fixed annuity) without one. Anyone care to elaborate?

 

[DHK]

Rumors. No, you don't need a series 65 to give retirement advice, nor do you need one to be a fiduciary to sell fixed indexed annuities for qualified plans. You WOULD need a Series 65 and RIA affiliation (or Series 6/7/63 with broker/dealer affiliation) to give advice regarding SECURITIES - namely buying, selling, holding, or any analysis of securities portfolios.

Lots of gimmicks trying to recruit agents to join RIAs and sell managed money.

And until the DOL ruling is actually in EFFECT, it doesn't matter yet.

Don't forget what getting a series 65 and the requirements all entail too:
http://www.insurance-forums.net/for...ating-financial-planning-aum-fees-t87666.html

 

[topseller]

Thank you for the info