Does the sponsor for my series 6 exam have to be the company that I work for?
I have been in the coffee business for 29+ years, and am looking for a change.
I recently met with our investment adviser, who suggested that I look into getting my series 6 certificate, as I have a good knowledge of investing, and sales. After I complete my exam, how portable is it to go out and find a job with a bank, insurance company, or investment company?
What do you think about getting my series 6 and then shopping myself for a job?
I realize that this is not exactly the way it is usually done.
Any advise, suggestions, or guidance would be appreciated!
Indeed you will need a sponsor. I would suggest you choose one in which you would be happy working for/with for a while to get some good basic training. Given the recent DOL law changes, and how the industry as a whole is changing, you may want to consider getting your Series 7 instead. It is a more comprehensive study and exam, but will allow you to be able to do a lot more in the industry. It lets you do everything a Series 6 can do, and a lot more. You may also want to consider getting your Life & Health license in conjunction with your securities license.
I hope this helps!
Congratulations for your choice of an excellent career! No, the sponsor of your series 6 exam does not have to be the company that you work for. Although your sponsors aim is to have you come aboard with them, you can always make the move easily. To register you will complete a U-4 form and will be given a CRD number. All of this will make it portable and possible for you to move employers or Broker Dealers and work for whomever you wish.
Generally an insurance company or bank will be happy with just a series 6. However many banks, along with investment companies, are now requiring series 7. Also, if you go with an insurance company they will likely require you to sell a minimum amount of life insurance. Even though they will be the easiest place to get hired, unless you want to sell life insurance, you might want to stay away from insurance companies. I like the way you are thinking and the process you are following in your financial career. Much success!