Need series 7 sponsor

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May 20, 2005 5:24 pm

I am a Captain in the Army, 10 months left and plenty of time to study
for the series 7 before I get out and apply for IR jobs. 

Where can I find a company to sponser me? 

Thanks for any info.

May 23, 2005 7:49 pm

American Express Financial Advisors.  They will sponsorship anyone, regardless of past experience given you can pass their initial screening exam during the interview process.  Call your local office and express your interest.  They will be more than happy to interview you. 

May 23, 2005 8:00 pm
callup-putdown:

American Express Financial Advisors.  They
will sponsorship anyone, regardless of past experience given you can
pass their initial screening exam during the interview process. 
Call your local office and express your interest.  They will be
more than happy to interview you. 





Captain, do NOT take that advice.  In your case AEFA would be a
killer. We've already told you to shoot for the top of the pile, you
can land at Merrill and be on third base ready to score.

May 23, 2005 8:03 pm
macm:

I am a Captain in the Army, 10 months left and plenty of time to study for the series 7 before I get out and apply for IR jobs. 

Where can I find a company to sponser me? 

Thanks for any info.


You'd be better off reading anything you can get your hands on about how to gather and run a book of business. The Series 7 will be a piece of cake. Don't sweat that one.

May 23, 2005 8:31 pm
stanwbrown:
macm:

I am a Captain in the Army, 10
months left and plenty of time to study for the series 7 before I get
out and apply for IR jobs. 

Where can I find a company to sponser me? 

Thanks for any info.


You'd be better off reading anything you can get your hands on about
how to gather and run a book of business. The Series 7 will be a piece
of cake. Don't sweat that one.





Captain, don't take that advice either.  I have been forced to fire MBAs who underestimated the Series 7.

May 23, 2005 10:15 pm

Put / Stan,



Thank you for the advice.  I'll use my time now to study for the
7, read the better material out there on sales, and whatever I can find
on running a solid book. 



I believe you two could argue about who makes the best bottled water.

May 23, 2005 10:58 pm
macm:

Put / Stan,



Thank you for the advice.  I'll use my time now to study for the
7, read the better material out there on sales, and whatever I can find
on running a solid book. 



I believe you two could argue about who makes the best bottled water.





Evian all the way baby!

May 23, 2005 11:07 pm

What about Sam's Choice????  Gotta keep that WalMart stock climbing, Joe!

May 24, 2005 8:24 am
Put Trader:
stanwbrown:
macm:

I am a Captain in the Army, 10 months left and plenty of time to study for the series 7 before I get out and apply for IR jobs. 

Where can I find a company to sponser me? 

Thanks for any info.


You'd be better off reading anything you can get your hands on about how to gather and run a book of business. The Series 7 will be a piece of cake. Don't sweat that one.




Captain, don't take that advice either.  I have been forced to fire MBAs who underestimated the Series 7.


The management equivalent of a substitute teacher doesn't fire anyone. The only way an MBA could fail the Series 7, assuming he doesn't arrive drunk to the testing site, if to have received his MBA from a  diploma mill like Put did.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

May 24, 2005 8:27 am
macm:

Put / Stan,

Thank you for the advice.  I'll use my time now to study for the 7, read the better material out there on sales, and whatever I can find on running a solid book. 

I believe you two could argue about who makes the best bottled water.


Ignore that gasbag who never was a successful broker. If spending part of your reading time preping for the Series 7 makes you happy, know yourself out. Read some Nick Murray and Tom Stanley while you're at it.

May 24, 2005 8:34 am
stanwbrown:
macm:

Put / Stan,

Thank you for the
advice.  I'll use my time now to study for the 7, read the better
material out there on sales, and whatever I can find on running a solid
book. 

I believe you two could argue about who makes the best bottled water.


Ignore that gasbag who never was a successful broker. If spending
part of your reading time preping for the Series 7 makes you happy,
know yourself out. Read some Nick Murray and Tom Stanley while you're
at it.





What an incredibly insipid comment.



What does "know yourself out" mean?



As for Nick Murray--I agree with that wholeheartedly.  And if you
get a chance to hear him somewhere do it--it's worth travelling to get
a dose of Murray.



Tom Stanley does very little for me, but Murray really rings my chimes.

May 24, 2005 8:41 am
stanwbrown:
Put Trader:
stanwbrown:

[quote=macm] I am a Captain in the Army, 10 months left and plenty
of time to study for the series 7 before I get out and apply for IR
jobs. 

Where can I find a company to sponser me? 

Thanks for any info. [/quote]


You'd be better off reading anything you can get your hands on about
how to gather and run a book of business. The Series 7 will be a piece
of cake. Don't sweat that one.



Captain, don't take that advice either.  I have been forced to fire MBAs who underestimated the Series 7.


The
management equivalent of a substitute teacher doesn't fire anyone. The
only way an MBA could fail the Series 7, assuming he doesn't arrive
drunk to the testing site, if to have received his MBA from a 
diploma mill like Put did.





The Series 7 deals with countless topics one does not study in
school.  It also uses street jargon because the question writers
are from the industry and it's natural to them.



It is taken by about 3500 people each month--including those who are
taking it again for the second, third, fourth...time.  Of the
3,500 who will take it in May approximately 2,000 will pass it. 
Seeing as that includes the repeaters what do you suppose the odds are
that the first timer is going to pass.



Fools like StanBrown advised JFK, Jr. that the Bar would be a piece of
cake to a guy with his background.  Idiots running their mouths
are the bane of any thinking adult.

May 24, 2005 8:55 am
Put Trader:
stanwbrown:
Put Trader:
stanwbrown:
macm:

I am a Captain in the Army, 10 months left and plenty of time to study for the series 7 before I get out and apply for IR jobs. 

Where can I find a company to sponser me? 

Thanks for any info.


You'd be better off reading anything you can get your hands on about how to gather and run a book of business. The Series 7 will be a piece of cake. Don't sweat that one.




Captain, don't take that advice either.  I have been forced to fire MBAs who underestimated the Series 7.


The management equivalent of a substitute teacher doesn't fire anyone. The only way an MBA could fail the Series 7, assuming he doesn't arrive drunk to the testing site, if to have received his MBA from a  diploma mill like Put did.




The Series 7 deals with countless topics one does not study in school.  It also uses street jargon because the question writers are from the industry and it's natural to them.

It is taken by about 3500 people each month--including those who are taking it again for the second, third, fourth...time.  Of the 3,500 who will take it in May approximately 2,000 will pass it.  Seeing as that includes the repeaters what do you suppose the odds are that the first timer is going to pass.

Fools like StanBrown advised JFK, Jr. that the Bar would be a piece of cake to a guy with his background.  Idiots running their mouths are the bane of any thinking adult.


Say, fossil, what's the failure rate of the Series 7 at any major wirehouse? 5%? 10%? <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


Wow, that's a killer exam there. The fact is if you're going to any firm with a real training program you're going to get the background required to pass the exam. Passing the Series 7 isn't what makes you successful, it's a minor hurdle to anyone with a functioning brain.


May 24, 2005 8:56 am

"What does "know yourself out" mean?"


That's a typo for "Knock yourself out"....

May 24, 2005 9:09 am
stanwbrown:

Say, fossil, what's the failure rate of the Series 7 at any major wirehouse? 5%? 10%?


Wow,
that's a killer exam there. The fact is if you're going to any firm
with a real training program you're going to get the background
required to pass the exam. Passing the Series 7 isn't what makes you
successful, it's a minor hurdle to anyone with a functioning brain.






It depends on what your job is.  Clearly people hired to be
producers have a higher ratio than sales assistants and back office
types who take the test for various reasons.



It also depends on your gender and your race.



It runs from more than 99% among caucasian males in the training
program to almost zero in minority support people.  That is the
first time ratio--eventually most people pass.  Eventually.

May 24, 2005 9:11 am

That's a long answer to say "Yeah, Stan, you're right. The failure rate for broker trainees on the Series 7 is very low"...

May 24, 2005 9:19 am
stanwbrown:

That's a long answer to say "Yeah, Stan, you're
right. The failure rate for broker trainees on the Series 7 is very
low"...





The reason that there are people who declare that anything is a "piece
of cake" is because they have the skill set to pull it off.



I happen to have more than a little experiende with the challenges of
the qualification exams and am here to tell you that there are lots of
MBAs who fail the test.  Among analysts who sit for it the failure
rate is quite high--not because they don't know the stuff but because
they did not bother to do sample questions to see the myriad ways that
a certain subject can be presented.



"Regarding municipal bond exceptions, all of the following are true
staements except those which are false excepting those which are true:



I.   A bona-fide exception occurs if bonds are not in proper denominations

II.  A bona-fide exception occurs if certificates are missing CUSIP identifiers

III.  A bona-fide exception occurs when the legal opinion does not bear a supporting opion from bond counsel



blah, blah, blah



Again if it's so damn easy why is the average PASSING score something like 75%?



Don't get me going--one of management's biggest frustrations is dealing
with Series 7.  Declaring that it's not a challenge just reveals
the vacantness of your experience.



Tell me again?  You got registered fifteen years ago and have been
doing the same job ever since--that's right isn't it?  No
advancement, no promotions, no frame of reference except your branch?

May 24, 2005 9:27 am

Once again, fossil, what's the failure rate for this "tough test" at any major wirehouse for brokers? Now go on and on about how difficult it is, when there's a 10% failure rate max.


"Tell me again?  You got registered fifteen years ago and have been doing the same job ever since--that's right isn't it?  No advancement, no promotions, no frame of reference except your branch?"



ROFLMAO, "advancement" as in flunking out of producing to take a pay cut and becoming a lowest-possible tier management type? Do you think ANYONE here became a retail broker to forego the bigger check and freedom of schedule to become the classroom  monitor? There’s no “promotion” or “advancement” in failing as a producer and slinking off to the job security of “traveling substitute manager”.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


I hope to be a retail broker the rest of my days. That’s what I joined the industry to do. I live in a town I love, I make a living most people outside this industry will never attain, I have a freedom in my schedule management types would envy and I chose who I work with. There’s no reason to surrender ANY of that, much less taking a smaller paycheck to do so.


May 24, 2005 10:08 am
stanwbrown:


I
hope to be a retail broker the rest of my days. That’s what I joined
the industry to do. I live in a town I love, I make a living most
people outside this industry will never attain, I have a freedom in my
schedule management types would envy and I chose who I work with.
There’s no reason to surrender ANY of that, much less taking a smaller
paycheck to do so.







Let me tell you something Stan.  You may be able to bullsh*t some 23 year old college dropout--but I'm a grown up.



First, you did not join that firm hoping to be a stock broker for your
entire life.  You applied for a job there because nobody else
would hire you.



You are in a dead end career that is populated by people who don't even have college degrees.



Surveys of new hires are run all the time.  We asked, "Now that I've hired you can I ask something?"



Sure



"Where all did you interview before here?"



We would hear a laundry list of potential jobs that they had tried to
get.  Why do you think wirehouses don't try to recruit brokers
(much) at college job fairs?



The reason is because we know that sales types are born, not made, and
that eventually some good ones will show up.  Oh sure we have to
hire ten to find one, but that's the cost of doing business.



You may be a good producer.  If you are good for you.



I was a good producer too, and a good options marketing manager, and a
good travelling branch manager (for about two years), and a good sales
liason to the training department, and a good special assistant to the
CEO, and a good representative of my firm to the NASD, SIA and various
more localized organizations.



The high point of my life was not the years in production--it's a shame that you'll never experience all I have.

May 24, 2005 10:24 am

Put,



The high points of my life are not work related. It is this career, the "dead end" one, that affords me the flexability and means to do basically whatever I want whenever I want. I may not represent my firm to the NASD or be the "special assistant" (infer what you will here) to the CEO, but I don't need that to feel good about myself. You may be educated and experienced but you are still ignorant nonetheless.