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Ask Lane Your Own Question
Category: Job
Satisfied Customers: 12034
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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If I go through exams and obtain a series 6 license aside

Customer Question

If I go through exams and obtain a series 6 license aside from being able to sell life insurance and annuities can I move on to obtain other investment related careers?
Submitted: 2 years ago.
Category: Job
Expert:  Rakhi Vasavada replied 2 years ago.
Dear Friend,
Hello and welcome. Thank you for providing an opportunity to assist you.
CERTAINLY YES... If you clear exams and obtain series 6 license, it will NOT LIMIT you to this career. Subject to clearing applicable exams and licensing requirements, you can move on to other investment careers.
I am sure this would help.
You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.
Warm Regards
Expert:  Lane replied 2 years ago.
The series 6 is a limited license for mutual funds, variable annuities and variable life.
Life insurance is, of course, a state licensing issue. (Each state's dept of insurance)
Having life & health, and series 6 is a VERY common configuration for all the life insurance companies.
The full licensing that would allow you to work essentially ANYWHERE on the commission side of the business (brokerage, life, employee for Schwab, TDameritrade, Scottrade, etc,etc) would be the SERIES 7, life & health.
Then there's the other side of the business (the side that's growing the most), and that's the fee-only model. Where you get (at least) the series 65. (Investment adviser license) . These people, rather than working for the brokers and life companies out there, work for the client, and charge a fee, using the no-load funds, stocks, bonds, no-load life.
Let me know if you have questions ...
Customer: replied 2 years ago.
Great answers, I already have the state life insurance license, therefore if I get a FINRA series 6 license I can get series 63 and Series 7 licenses next?Also what kind of experience would the companies want. I wonder would experience from MLM companies who recruit agents from the community and have they learn to sell insurance count?
Customer: replied 2 years ago.
As I have trouble with the MLM marketing companies as they don't provide too much guidance in what and how to handle issues and it may be disorganized at times even though the company is legit and good in other ways.
Expert:  Lane replied 2 years ago.
Yes, that works ... one thought; going ahead and getting the series 7 first (series six is just a subset) might be a path to take.
Series 7 is the GENERAL securities license that covers everything the 6 does and more.
So you'll have to cover more material, but not have to cover the 6 material twice.
Going the other way does, however, get you started and would make that PART of the series 7 a breeze.
And yes, I would say that the MLM experience is good experience (be careful about SOME of the tactics SOME may teach) BUT it's a "go out there and produce" experience that's valuable anywhere (and in other industries too).
It's fairly well know that insurance is sold ... it's not bought.
So that makes you have to walk a fine line when it comes to NOT being too pushy ... BUT the executives know that once you have proven your ability to sell (not just take orders) you've done the part that causes most to fail.
Hope this helps
If this HAS helped, I'd appreciate a positive rating, using the smiley faces or stars on your screen ...   that's the ONLY WAY I'm credited for the work here.
Expert:  Lane replied 2 years ago.
Just checking in to see of you saw my answer to your additional question.
As successfully training financial advisers is what I've done for over 25 years, you might want to do a quick follow up Phone consult.
I'll make the offer and you can accept if you'd like to drill down on this some more.
Otherwise ... Would appreciate a positive rating... Using the stars or faces on your screen.
That's the only way we're credited for the work here.
Let me know ...