Fee based with series 7?

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Dec 22, 2006 9:11 pm

can just the series 7 be used for fee based or do u need the 66 ...i had both but my firm just terminated the investment advisory license{cuz we r transaction oriented}...i had taken the exam in 04{66}...now i am goin indy{lpl}..so does this mean i got to re take the test....

Dec 23, 2006 10:50 am
jeno1000:

can just the series 7 be used for fee based or do u
need the 66 ...i had both but my firm just terminated the investment
advisory license{cuz we r transaction oriented}...i had taken the exam
in 04{66}...now i am goin indy{lpl}..so does this mean i got to re take
the test....





RIA's have to pass spelling and grammar test which was removed from the NASD series 7 exam in 1983.

Dec 23, 2006 11:36 am

Your 66 can sit in limbo for up to two years w/o retaking the test.


I concur that your command of the king's english is pretty poor.  I hope your client correspondence looks considerably better than what you post here.

Dec 23, 2006 5:09 pm
Indyone:

I concur that your command of the king's english is
pretty poor.  I hope your client correspondence looks considerably
better than what you post here.





u must by muni bonds or u will have no tax free income. LOLOLOLOL!!!1!!

Dec 23, 2006 6:31 pm

haha funny...i see no one answered my question yet...can a series 7 holder do fee based or does he need the series 66 {or 65} as well..??

Dec 23, 2006 7:04 pm

Where's that imbicile NASD Newbie/Devil's Advocate/Put Trader et al when

we finally have a use for him?      

Dec 23, 2006 7:39 pm

Jeno, You won't get your questions answered without proper English.


It's just annoying to read posts without sentences.  Your intelligence will also get questioned.  I'll give you a free pass and answer your question.


A Series 7 allows you to sell things.  It does not allow you to charge for advice.

Dec 23, 2006 8:22 pm
Indyone:

Your 66 can sit in limbo for up to two years w/o retaking the test.

...I repeat...

Dec 24, 2006 7:10 pm
jeno1000:

haha funny...i see no one answered my question
yet...can a series 7 holder do fee based or does he need the series 66
{or 65} as well..??





u need 2 b registered with teh SEC as an RIA ... there iz a test, a spelling test. LOLOLOLOLOL!!!!11!!!!



So do u own muni bonds? if u don't you will have no tax free income,
and u will be poor. u may have 2 eat cat food. mayb u should rollover
ur IRA into a variable annuity ... those r cool. LOLOLOLOL!!!1!Q!1!!!