Is my series 7 license useless?
I hope that somebody can answer my following question as i feel very miserable at this point.
I was hired by a little financial service advisory company around 2 months ago. They sponsored me for my series 7 test which I passed 2 weeks ago. But they made me pay for the books and the examination fee before I took the test. Now I am studying for the series 63 test as they asked me to get ready asap. I also paid the fee for the series 63 test as well.
As this company was not paying any base salary, (it only pays commission for the customers i bring to their company) I kept looking for some other jobs and today i have been offered a "financial advisor" position by a bank which not only pays commission , but also pays a base salary. They have hired me with the condition of already having my series 7 license, and they are asking me to pass the series 63 test with their sponsorship.
a)if i quit with the other company which sponsored me for the series 7 license, but they have not registered my license yet, does my series 7 license become useless? I mean i did pass the test already, but i have not sold any security or brought any customer to their company yet because they told me i need to pass the series 63. If i start in this new job , can i still use my series 7 license?
b)the same company also asked me to sign some more papers last week. It is an addendum and on the paper it says that it is my responsibility to pay all FINRA registration fees and state registration fees. I have not signed it yet, because if i start working with this new job -which is a well known bank and much better than this job- i probably don't need to sign it.
Please give me some tips if my series 7 license is safe.
Thank you for all of your answers guys...I really appreciate it!
Join the new firm. The first passing, should be enough, you're done with the 7. If not, well, fine, just take it again.
The 63 takes about 5-10 hrs of study to pass.
Quit worrying so much.
as usual, bfp is right.
you passed the test. finra was notified by the testing center. your new firm (the bank) will register you.
move on and don't stress :)
You HAVE the 7 already. They're not gonna take it away.
Have you done a Broker Check on yourself?