How do I get a financial advisor license?
Financial advisor is a specially trained expert who provides advice on financial planning and investment. In many countries, someone who wants to offer services as a financial advisor must be licensed by the competent authorities; This ensures clients of the advisor that he has the expertise necessary for certain aspects of work, such as providing advice on investment in securities. In the United States, a financial advisor license can be obtained by passing tests for the 7 and 66 licenses.
These licenses are jointly called a uniform test in combined state law and are managed by the financial regulatory body (Finra). This test is carried out to ensure that investment experts know the rules of public investment. Test targets must receive a 70 or higher score to go through a series of 7 and 75 or higher in order to go through the 66 series. The candidate must hand over both examples to receive a financial advisor license.
In order to take the series 7 you must have a sponsor. In view ofThe fact that you should already work in the financial service industry before passing the exam, your employer is usually your sponsor and pays the exchange rate. The 66 series does not require a sponsor, but these two tests are usually performed at approximately the same time, while the employer pays for all fees.
After you have a sponsor, you must complete the U10 for the Test series 7 for the series 66. Then the forms and Test fees should be sent to FINRA. Now you should start studying for tests that can be intimidating and stunning for some people. There are many online sources and in the press that help study, including practical tests.
You will also receive notifications of writing to the mail. This form confirms your registration and provides expiration date. Both tests must be approved before this date, which is 120 days from the registration. Notification of the write also pThere is more information about the exams, including the location of the exams. Find the location of the local exam and call for an appointment and make sure there is enough time of study before performing the tests.
On a test day, bring more pencils and empty paper that you can calculate, even if the test is most likely to be served by a computer. Make sure you got enough rest at night and get a good breakfast on the day of the test. It will take several hours to complete the tests, and although they are usually used close to each other, they are not used on the same day. If they have not passed, the tests can be re -performed if it is an expiration date before the original 120 -day date.
Financial advisor licenses are often not obliged to carry out some of the typical financial jobs, but it is necessary to license for the sale of real estate, insurance, bonds, mutual funds or shares. Without a license for a financial advisor, the advisor cannot propose to the customer's financial products to the customer. He or she can speak useE of all available products in a impartial way and to provide the customer with enough information to make his own decision.