ok ok ok, i screwed up. I recently took the series 7 and failed. i committed the big mistake of studying until burnout wanting to get at last a 95%. I do catch a lot of crap for that. I was employed with EJ and in reading the discussions i'm glad i don't work for them. well now that I have my own study material instead of EJ material I need a new sponsor. Does anyone have any advice for me so that I could get off the walk of shame?
I know i'll get some flak for my exam results but after your done slamming me could you give me some help?
Jones’ Series 7 pass rate is 92% plus. Maybe you better just give up. What was your score? Sometimes they’ll let you test again if you were close.
Sorry i don't give up like that. Quiters suck "DUDE". Did you or will you give up during a tough time? As they say crap happens and you get back on the horse.
Have a good one Big
Quite frankly you should have passed on the first try. This shows that you are unable to work on your own and motivate yourself. You may want to try another profession.
No I wouldnot say that. To try and avoid a bunch of excuses i’ll say this, I live in florida and I am a Florida Nation Guardsman. I did get activated to help out in Mississippi this Sept for two weeks which resulted in me getting about 7 days behind calender. Eventually I got caught up but I was pretty burned out. Now everyone who has been on the study program with EJ knows it is a challenge to make up 2 or 3 days but 7 is tough. Don’t be so in a hurry to judge EZ. I hate mentioning things like that because it boders on whining. I agree with you EZ that i should have passed the first if i had not been deployed.
It is just a test! Give it another try and pass it. Go to a
review class for a week right before you take it (Dearborn Financial
does this). Your ability to pass the test is not correlated to
your ability to make it in this business…believe me! I know
plenty of morons who passed with a 90 who can’t manage a ho ho in its
wrapper. Keep at it.
Thanks rightway, I will keep at it. My challenge now is finding a sponsor. Once again if anyone has any information to help me out I would appreciate it.
Hedgeman, Rightway is absolutely right. Keep at it!
Since you're in Florida you might pursue a local Raymond James & Associates branch. I'd personally also look at A.G. Edwards if there's a branch around. I don't know what a branch manager's view on this (failing once) may be, but if you really sell yourself and your commitment to succeed in this business they may well be open to include you in their training programs. I don't know about Edwards, but I understand RJA has been putting a lot of focus on hiring trainees and they've invested a lot in their training program over the past couple of years.
Speaking for myseld (and Maybeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee), I too think that it i a good idea to check out Raymond James since you are in Florida. I did due diligence on them and they look to be a quality firm with a big presence in Florida (headquarters is in Tampa)…
Did someone mention RayJay??? I'm in the house. Hi Indy one
How many weeks did you have to study? That is my question. I think you are still eligible to retake the test for one year under the original EDJ sponsorship. It would be much better to pursue an offer if you did have a passing score under your belt. Sounds like you were in a tough situation.
Why do you want to be a financial advisor?
I have had about 9 wks to include the time on my deployment. The EJ study calender is pretty tight, not a lot of time off. Being 7 days behind means that you are behind at least 10 chapters behind. There are 39 chapters in all. It was bad catching up but it was do able. I could've used an 3 or days, but my situation caused me to have to still try and put things together in the last week. I took a practice test just last night and scored an 80%.
I enjoy meeting with people and getting to know them and helping them out. The financial world is constantly changing and moving and I enjoy that. Everyday can be a learning experience. Not only that I'm a heck of a good listener .
I understand the situation now knowing you were deployed. However try another firm. I think you’ll like it better.
There are many B\Ds out there that will help you. Check out HD Vest, Quest Capital or any other indy B\D. Berthal Fisher is another one that would be a good match.
PM me and I can tell you who to talk to at Vest.
I know one guy who failed on the first try. He cried.
He now is a 1.5 million dollar producer. Passing the test is only one part of being a broker. He has one client who has done two ipos and is worth 200 million.
I know plenty of guys who passed with flying colors who now are out of the business. Go back to studying and don't worry.
Best of luck,
Hedge, how old are you and what is your background?
You dont have to be exact. I an an advisor the guard and understand your situation.
For sure dont worry about failing. Don't fail again, but don't go crazy over the first failure. Did you get a lot of sleep the night before or that month. I am a big fan of healthy body drastically increases (brain) protein cell development and mental capacity.
If you have a solid background you could propose to a new company that you are willing to do what ever it takes... This may mean get sponsored with no pay and then study your butt off and pass before you get paid. This would show your commitment to succeed.
Either way good luck and hang in there. Lincoln had two major depressions and also lost every election possible multiple times until he was president.
I'm 37 (i guess that's young) my background is mainly in business management.
I had little to no sleep the whole month, you still trying to catch up and pick up on the details. I probably pent about 15 - 18 hours a day reading. I found myself just cramming the info in not really committing anything to memory. I was doing what I had to do in order to get to the next chapter.
The night before the test I was restless, not because of the test itself but because I did not believe that I was ready. I went to sleep about 12 midnight, woke up at 4:30am and began to study again. By the time I sat down for the test I really felt burned out.
My ego took a big hit that's for sure, I've always been able to do well at everything whether military are academic. This has been very humbling. Well with my personality I cannot let a test beat me, so i'll start studying again and find a sponsor. However, it does feel like I have some communicable disease now because I failed(which is the worse feelinf in the world, hands down )trying to find a sponsor. A lot of places want you to be certified already or want you to be a CPA or something.
The exam is either pass or fail. If you got a 71, you might as well have gotten 100%. Much of the knowledge you'll never use anyway ( Naked bull bear in the money straddle call put option).
Keep your chin up and take the exam again. You know what to expect now. Besides, the test is the easy part of this biz.
Take this advice very lightly- Check out H& R Block. Learn taxes- wealth of information on a 1040, plus maybe the ability to call on tax clients, quick way to build a book.I do taxes for clients, have uncovered millions in new business.
Don't let BigPayDay get you down, his problem is that he is blinded by Jones' sham of a Golden Rule policy.
Maybe if he was in your position, he would be slightly slower to judge.
I haven't been on here in months, (even had to sgn up again), but it never fails with some of these guys.
Here is exactly how to pass the seven.
There are 50 Q's on options and 50 Q's on municipals (I am not totally sure on this but your study literature should give you a very accurate count on how many Q's on each topic there will be, and heck you just took the test, you should remember now). Ace those and you can score in the 50% range on the rest of the test and be fine.
And to be totally honest the things I learned for the test and not incredibly applicable in practice. Sure rules and regs are in there, but you have to learn most of this stuff in a different manner to survive. There is no way to can score 95% in this field. It is constantly changing and you also never stop learning.
Go get em!
Hedge.. The main point in studying is you cant cram this test. To much information to get you confused.
Second did you go on your deployment after being hired by EJ? Also did you state you were ready to test?
I ask these questions thinking how I would feel if I hired you. Now since I posted my probing questions to you there seems to be a paradime shift in opinion towards you. Sorta like you served your country and just were overwhelmed, so we should be sympathetic?
If you have a good track reccord you just were mentally and physicalla spent. Maybe riding on the fact that you don't fail. So if this is the case you need a break. CHILL OUT! Go to Florida for a week and set the books aside for a month. Then come back with a fresh confident body and mind.
Also when you get back go work for one of those tax companies and the guard days (orders) as you study. Then go to a firm and state "I am ready to test and I have been working on taxes/networking for 3 months. I'm ready to give 110% to this career." If it gets into the failure of the 7 explain the TDY to Katrina land and that was a bad decision to test on your part, but you were mentally and physically drained. Good luck..