Sponsorship for Series 7

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Jan 29, 2006 1:30 am

Hi!



I am a
licensed Mutual Fund distributor and Resident of India on visit to US.
I am a banker and finance professional. Whether any one can suggest a
broker firm/s in Denver who would be willing to consider sponsoring for
Series 7? Incidentally how many hours of study is required to pass?

Mar 1, 2006 6:53 pm

As far as the studying aspect goes. You should spend about 3 months studying.

Mar 1, 2006 8:57 pm

Sorry Centaur Sr. I was interrupted. The studying for three months, assumes that you are also working full time. SO you will be studying after work, as well as doing some MAJOR STUDYING on the weekends.


Although the exam is difficult, it is do-able.


Passing the exam is almost like sales. If you put in enough hours you will be successful.



Hope this helps


brokr1


Mar 12, 2006 3:30 pm

Brokr1! Thanks for the info. I have been in Banking and investment advisory for decades. I am looking for some firm who can sponsor for H1B and Series 7. I will be taking this month Series 65. I had a meeting at Waddell & Reed. Scheduled a second meeting next week. Can any one provide some information on them? Thanks in advance

Mar 12, 2006 4:48 pm

I worked at Waddell and Reed for a little over a year, I had a good year as far as their standards as a rookie. My office had a mix of advisors, low production producers to the presidents council advisor level. Branch Manager was greedy, did little for us. Always preached it's your business, yeah that's great and all., but when I have a problem with paperwork or complience and he won't call down and take care of it. It's frustrating. When you meet with people, they won't know who Waddell and Reed is at all, so you always have to explain that to them. The funds are good, everyone will argue about expenses and sales charges ofcourse. They do have some good offices and good producers and good managers, It's hit and miss, get some training, learn the biz, maybe stay or move on. I moved on.

Mar 17, 2006 1:48 pm

Thanks liquidasset! I appreciate your input. Just passed Series 65 on first try with very good score. What should be the next Series? What effect often changing firms have on relationship with RIA's clients? Scheduled third meeting with Waddell & Reed. Any experience with World Financial Securities group / World Securities group?

Mar 17, 2006 4:13 pm
centaur_sr:

Thanks liquidasset! I appreciate your input. Just passed Series 65 on first try with very good score. What should be the next Series? What effect often changing firms have on relationship with RIA's clients? Scheduled third meeting with Waddell & Reed. Any experience with World Financial Securities group / World Securities group?



Is it ok to leave an IA firm with your book? Do they place restrictions?

Mar 20, 2006 6:08 pm

If you go with Waddell, put alot of clients into IVY funds if you plan on moving. IF you use WR funds they won't transfer without a hit. My suggestion is to try to find a place where you can see yourself long-term. No experience with the company you mentioned.

Mar 22, 2006 7:23 pm
liquidasset:

If you go with Waddell, put alot of clients into IVY funds if you plan on moving. IF you use WR funds they won't transfer without a hit. My suggestion is to try to find a place where you can see yourself long-term. No experience with the company you mentioned.


Thanks. The WFG/WGS are part of Aegon/tranamerica group. Do the names ring a bell? They follow a multi tier pay out structure starting at 25% somewhat similar too network marketing. Every one above get a share! Any comments?