FINRA Licenses In Multiple States?

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May 15, 2012 10:43 am

Ok, so when I start prospecting... if I know of individuals who might be solid, prospective clients, but they live in a different state than where I reside, what happens?

I take it I need to become licensed in whatever state the Prospective Client lives. So if I live in TX... but want to go after clients in say, MA, FL, AZ and LA... what needs to happen? Do I need to take 4 more exams? Do I just need to list the other sates on some sort of form? Is it a matter of paying fees? If it's just a matter of paying... will the firm pay for it? 

Anyone know? Thank you for the help!

May 15, 2012 11:25 am

Just contact your internal registration desk.  They'll help you register.  Usually takes minutes.  Depending on the state the fees will be small (or free) or big (like Texas)

Amber

May 15, 2012 1:40 pm

[quote=CashMonger9000]

Ok, so when I start prospecting... if I know of individuals who might be solid, prospective clients, but they live in a different state than where I reside, what happens?

[/quote]

Prospecting for what? Insurance? You will need an insurance license for those states. No additional exams. Just buy a Non-Resident producer license.

Securities? You will need a Series 63.

Managing assets for a fee? 63 & 65, or 66 (if you have the Series 7)

Annuities? Series 63 & 65, or 66 AND an insurance license for the state in which your client lives.

I assume you already have a Series 7. Series 63 & 65 work with a Series 6 or 7. Series 66 is a corequisite with the Series 7.

You need to plan a visit with your office principal and/or compliance dept.

May 16, 2012 8:40 am

Aren't you working for Ed Jones? They don't allows you to prospect other peoples districts.