Do NOT make a post asking for advice, that belongs as a comment in the "Daily advice thread". Keep discussions civil, informative and polite. Off topic comments, attacks or insults will not be tolerated.
Strictly no promotional threads. Do not post your app, tool, blog, event, etc. A hedge fund analyst explains his stock research process. Full of excellent links to videos, articles, and books. How do I find a sponsor for the Series 7?
My business partner and I own a small trading firm that deals mostly with trading options and swing term equities. While we have little intention at this point to trade OPM other people's money until later in the year, both of us want to take a Series 7, mostly just to gain the knowledge.
My question is this: You can find a ton of places that hire independent contractors and sponsor them for licensing. Check out job postings on career builder and monster, find the places that post frequently, those places are financial advisor factories.
Those are the types of places that really try to take advantage of people, don't care if you're successful, take a large chunk of your business. Since you just want the license, use them before they use you!
Just find a place that only pays you on commission and where you'll be entering into a contract as an independent contractor. Some of these places have clauses that try to charge you fees if you leave too soon, they aren't enforceable but they can cause you a headache.
In the end, these places sponsor everyone because they have nothing to lose, you cover your own costs and there's no risk to them. Also, if you really just want the knowledge right now I'd recommend Training Consultants study material.
You pay once and have access for the whole year. Their questions are very close to the actual ones on the 7 and 66 and their practice test layout mirrors the test perfectly. I finished my 7 in 1. Unless I'm totally mistaken, don't you need to be employed by a registered broker dealer or investment advisor in order for the licensing to remain valid?
If you aren't going to remain employed by a BD or IA, then you may as well just buy some used study guides and gain the knowledge without bothering with the actual exam. If the firm is your own, I believe it would be more apt for you guys to take the principle exam I forget which series it is, I want to say 5?
They'll sponsor you, but most likely make you pay the exam fee. As soon as you pass that, and then the Series 66, tell them you got a better offer and leave.
Principal exam is series Prerequisite to take the 24 is the 7. It's always been a pre-req. Though you can take a bunch of others in place as a requisite though 17,38, and a couple others i think. You can typically find the books at a used bookstore.
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This is an archived post. You won't be able to vote or comment. Want to add to the discussion? I thought you could take the principal exam without any prior ones.More...