Licenses to go Indy
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What license(s) are needed to go indy? Have only my 7, 63, 65, life and health now.
Do I need my 10 and 11 (formerly the 8 I believe)?
Do I need my 24?
What's the difference?
Assuming you want your own office, LPL requires a 24…I think RJ requires a 9/10. Not positive what the difference is to be honest. All I know is that I had to get my 24 for LPL.
The 24 is a General Securities Principal exam which qualifies you to supervise all activities of a brokerage firm/office, including investment banking.
The 9/10 is essentially a branch manager's exam, slightly narrower in scope than the 24, and only allows you to supervise normal branch operations.
[quote=ezmoney]How hard was the 24?[/quote]
Not bad...I got an 80 and probably didn't put more than 40 hours of prep in. It may be just a bit harder than the seven, but honestly, I'm not sure it is...just boooooooring material.
If your asking your probably not ready. I am not even thinking about it and it is common knowledge to me, because I have 6 years of experience.
I am ready - I've been in the business 8 yrs now, starting my 9th.
It's not anything anyone at my office (a wirehouse) talks about, so how would I know until I start talking to people who have gone indy, which is what I am doing here!
[quote=newrookie]
I am ready - I've been in the business 8 yrs now, starting my 9th.
It's not anything anyone at my office (a wirehouse) talks about, so how would I know until I start talking to people who have gone indy, which is what I am doing here!
[/quote]
You may want to consider changing your name.
[quote=ezmoney]
it can't be worse than the 66
[/quote]
It is definitely harder than the 66. Covers a much broader scope.
[quote=Indyone]Assuming you want your own office, LPL requires a 24...I think RJ requires a 9/10. Not positive what the difference is to be honest. All I know is that I had to get my 24 for LPL.[/quote]
Either the 9/10 or 24 works with RJFS. They recommend the 9/10 though, for 2 reasons. First, the 24 got a lot harder a few years ago when it was revised, so the pass rate on the 9/10 is apparently now higher than the 24. Second, the 24 is more limited on some supervisory authority. It doesn't include muni or option supervision, while the 9/10 does.