Help! (Series 66/7)

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Feb 22, 2010 6:01 pm

Hey,

Question:
I want to become an RIA.
I have a series 7 which is currently "active" with a B/D.
I plan to take series 66 exam.
If I pass the 66 and then resign from B/D, thereby "deactivating" my 7, will I need to reactivate my 7 elsewhere?
Point being:
In order to be an RIA, do I just need to have passed the 66 & 7 at some point previously or must the 7 be "active"?
What about: if I quit the b/d and am not registered with another b/d for over 2 years?
Must I then retake the 7 to maintain my RIA status?
Thanks
Feb 22, 2010 8:10 pm

Stop posting this everywhere..

Feb 22, 2010 9:45 pm

"everywhere"?

wtf r u talking about?
I posted it in 2 places....under "legal" and under "RIA".
That's your only reply to my question?
what an a-hole.
Feb 23, 2010 2:20 pm

ask your compliance guy @ your b/d... oh wait.

Feb 23, 2010 2:34 pm

Man, you guys are rough.  Bobby, as far as I know, you only need your 66 to be an RIA.  You could drop your 7 altogether (I think).  Don't take this as gospel, though.  Go to your prospective custodian's website (Schwab, TDA, Fidelity, T-PMR, etc.) and get their whitepapers on how to set up an RIA.

Feb 23, 2010 2:44 pm

I believe if you have your cfa/cfp you are exempt from taking the test. (if you have either one of them)

You do nothing with your 7 once the RIA is set up. It will expire after two years. If you decide to keep it, you need to affiliate with a b/d again before the two year mark is up. After two years, you need to retake the test if you want it back.



Feb 23, 2010 2:51 pm
mlgone:
bobbylaw:

"everywhere"?

wtf r u talking about?
I posted it in 2 places....under "legal" and under "RIA".
That's your only reply to my question?
what an a-hole.


your the a-hole.  Take a hint and leave.  Go back to your teletubby website



Dude, you are killin' it today!  LMFAO!