Series 6, 7 and 63 License . . .

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So - one of my goals in 2017 is to take and pass the Series 6, 7 and 63 License exams . . .

1) I need a Sponsor

2) Who all has all three of these Licenses?

TIA
 
No one. You don't need a 7 and 6 together. 7 covers everything that the 6 does.

How much in securities are you planning on writing? A small b/d might sponsor you if you're going to write 40-50k in GDC.

Really don't know. So - if someone puts $10,000 in ABC Mutual Fund that has say a 5% GDC - that creates $500 in gross commissions of which I would earn a % of right?

Fees aren't bad. Seems biggest cost is the time to study for the tests . . . I learn quick and would easily pass if the study materials match the test . . .


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Happy New Year Tom. :yes:


HNY to you too Tom . . .

p.s. - I bailed on my MLM plan yesterday BEFORE the New Year began. I have a new quest . . .
 
Really don't know. So - if someone puts $10,000 in ABC Mutual Fund that has say a 5% GDC - that creates $500 in gross commissions of which I would earn a % of right?

Fees aren't bad. Seems biggest cost is the time to study for the tests . . . I learn quick and would easily pass if the study materials match the test . . .


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HNY to you too Tom . . .

p.s. - I bailed on my MLM plan yesterday BEFORE the New Year began. I have a new quest . . .


Glad to hear that(I guess that 132 IQ finally kicked in)!!! Good luck on your new quest...whatever it might be.:yes:
 
Glad to hear that(I guess that 132 IQ finally kicked in)!!! Good luck on your new quest...whatever it might be.:yes:

oh on 1) - I "need" a sponsor.

Sold an Annuity yesterday Amtrak!!!!! Man's wife said she wanted one too - but, didn't want fixed - she wanted a Variable Annuity . . . She wants more than 3%. She showed me one she has now and over the last 4 years as averaged 11% growth . . .
 
Really don't know. So - if someone puts $10,000 in ABC Mutual Fund that has say a 5% GDC - that creates $500 in gross commissions of which I would earn a % of right?

Fees aren't bad. Seems biggest cost is the time to study for the tests . . . I learn quick and would easily pass if the study materials match the test

That's right on your MF example. Tests are easy for the most part but you'll have to study.

Very little applied knowledge or concepts on the 7 and 63...most is memorization of facts or formulas.
 

oh on 1) - I "need" a sponsor.

Sold an Annuity yesterday Amtrak!!!!! Man's wife said she wanted one too - but, didn't want fixed - she wanted a Variable Annuity . . . She wants more than 3%. She showed me one she has now and over the last 4 years as averaged 11% growth . . .


Good job! I trust that you won't be working the FE crowd for Variable Annuities.:laugh:
 
Good job! I trust that you won't be working the FE crowd for Variable Annuities.:laugh:

Ha - you never know with me . . .

When she showed me her growth - man, it was crazy. The way I understand it - I earn commissions on that "growth" in addition to the initial Annuity funding.

Not certain on that ^^^ still researching . . .
 
Ha - you never know with me . . .

When she showed me her growth - man, it was crazy. The way I understand it - I earn commissions on that "growth" in addition to the initial Annuity funding.

Not certain on that ^^^ still researching . . .

Those are called trails and are a commission option that you can choose.

The less upfront comp you take, the higher your annual comp (normally topping out at 1%)

To add one thing: when the market invariably goes down, so will your trails. I know several advisors that struggled in '01/'02 and '08/'09 essentially losing >30% of their income.

It is recoverable but not fun during......
 
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