Series 7 & 63 help

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Jul 19, 2007 9:10 am

I recently approached quest securities for sponsorship and they told me to get my books and $1100 to get on board. 

what are the best books to get and where do i get them?

is there any way to circumvent the 1100?

Jul 19, 2007 6:09 pm

Apply to a real firm.  They'll pay.

Jul 19, 2007 6:33 pm
cvaria:

I recently approached quest securities for sponsorship and they told me to get my books and $1100 to get on board. 

what are the best books to get and where do i get them?

is there any way to circumvent the 1100?


I'll give you a discount.  I'm independent, give me $950 and I'll get you licensed.  Give me a list of all of your contacts, friends, and family with at least $100k to invest.  PM with that list as soon as possible.  Thanks.

Jul 19, 2007 6:49 pm
Jul 20, 2007 12:20 am

Please don't do anything right now.  You are likely about to make a terrible mistake.


Why do you want to get registered?  What do you know about this business?  Why do you want Quest to sponsor you? 


Help us help you.

Jul 20, 2007 8:54 am
OldLady:

Please don't do anything right now.  You are likely about to make a terrible mistake.


Why do you want to get registered?  What do you know about this business?  Why do you want Quest to sponsor you? 


Help us help you.



I'm doing it on my own because I've been trying to break in to the field since I graduated last year with no success.   I go to interviews and the firms refuse to sponses me for the 7 & 63.  they offer tuition reimbursement but  no sponsorship.   I remember  getting called for an interview with T. Rowe Price and specifically asking  if the job would offer  sponsorship  for the two licenses, the HR rep said sure, then  later- sitting i mentioned it and they said they don't do that.  I want to earn money dealing in securities and later move into compliance.  Quest came up while I was asking around and I approached them.   I'm very tired of waiting for someone to tell me that I'm good enough to make money.. I know  I am.  ...(with a little coaching).

Jul 20, 2007 11:58 am
cvaria:
OldLady:

Please don't do anything right now.  You are likely about to make a terrible mistake.


Why do you want to get registered?  What do you know about this business?  Why do you want Quest to sponsor you? 


Help us help you.




I'm doing it on my own because I've been trying to break in to the field since I graduated last year with no success.   I go to interviews and the firms refuse to sponses me for the 7 & 63.  they offer tuition reimbursement but  no sponsorship.   I remember  getting called for an interview with T. Rowe Price and specifically asking  if the job would offer  sponsorship  for the two licenses, the HR rep said sure, then  later- sitting i mentioned it and they said they don't do that.  I want to earn money dealing in securities and later move into compliance.  Quest came up while I was asking around and I approached them.   I'm very tired of waiting for someone to tell me that I'm good enough to make money.. I know  I am.  ...(with a little coaching).



All the big firms will pay for the licenses.  Maybe it's your approach in the interview.  Don't even ask them about "sponsorship" or tuition assistence, etc.  Tell them you want to become an FA.  Tell them that you have a very large natural network of wealthy individuals (you do, right?). 


One problem is that you might be too young in their eyes.  It's pretty hard to convince HNW individuals that you know what you're doing when you look like you just took off your cap and gown.  You may need to go get sales experience elsewhere and then come back in a few years.

Jul 20, 2007 6:41 pm

Cvaria-


You mentioned that you want to be an FA and then go into Compliance? Why not try going into Compliance, first? Just about any Compliance position needs a 7 and 63 and most will need more licenses like a Series 24. Compliance is HUGE now and there are a lot of open positions and it just might be a good starting point, because they will pay for your tests.


Also, if you do decide to go at it on your own and study for the Series 7 independently, I would look into classes, first. For example, Dearborn (Kaplan) is where I took my Series 7 and I did a week long class. I reviewed with their books. Self study is really brutal for this test, especially if you don't work with Options. I would find a provider in your area that offers classes and order your study materials from there. I just think you will have a better chance passing on your first try.

Jul 20, 2007 8:37 pm
lady_trader:

Cvaria-


You mentioned that you want to be an FA and then go into Compliance? Why not try going into Compliance, first? Just about any Compliance position needs a 7 and 63 and most will need more licenses like a Series 24. Compliance is HUGE now and there are a lot of open positions and it just might be a good starting point, because they will pay for your tests.


Also, if you do decide to go at it on your own and study for the Series 7 independently, I would look into classes, first. For example, Dearborn (Kaplan) is where I took my Series 7 and I did a week long class. I reviewed with their books. Self study is really brutal for this test, especially if you don't work with Options. I would find a provider in your area that offers classes and order your study materials from there. I just think you will have a better chance passing on your first try.



I tried to get a job in compliance and turned up no results.  I got a temp offer but it was only for three months and the agency was sketchy.  I declined it.   Most of them are looking for people with one year of law school under their belt.  I'm applying to law school in a few weeks.  I'm going for a joint MBA/JD  but i really want to get into a firm and learn as much as possible.  Hiring is so convoluted now- but I guess that's just adulthood.  - I know it seems like I'm all over the place but I'm not. 

Jul 20, 2007 9:07 pm

most compliance jobs require one to first be a broker... If you know anby other was in please advise me.

Jul 20, 2007 9:24 pm
cvaria:
OldLady:

Please don't do anything right now.  You are likely about to make a terrible mistake.


Why do you want to get registered?  What do you know about this business?  Why do you want Quest to sponsor you? 


Help us help you.




I'm doing it on my own because I've been trying to break in to the field since I graduated last year with no success.   I go to interviews and the firms refuse to sponses me for the 7 & 63.  they offer tuition reimbursement but  no sponsorship.   I remember  getting called for an interview with T. Rowe Price and specifically asking  if the job would offer  sponsorship  for the two licenses, the HR rep said sure, then  later- sitting i mentioned it and they said they don't do that.  I want to earn money dealing in securities and later move into compliance.  Quest came up while I was asking around and I approached them.   I'm very tired of waiting for someone to tell me that I'm good enough to make money.. I know  I am.  ...(with a little coaching).


Good luck in your pursuit of mediocrity.

Jul 21, 2007 6:36 am

Cvaria-


I am in the Midwest. Normally, the compliance jobs require a degree and ability to pass the 7/63 or 66. Where are you located?


One other thought-what about starting out as an assistant and make sure that the person pays for licenses?

Jul 21, 2007 6:49 am

Cvaria-


It seems like you have a broad amount of interests. What do you think you are best at? What kind of job will afford the lifestyle that you want?


I have looked at the JD/MBA route. One thing that I would say I learned from looking at the is that the reputation of the school is really important. I am not sure of your financial situation, but the amount of debt to do a MBA program scared me. In my profession, I have met several people who have this combo or one. Normally, they aren't really in sales, they are management or a Portfolio Manager/analyst. There is a JD who does Estate Planning for Merrill's region near me.


A very good friend of mine has a Compliance job and it allows her to only be in the office 3 days a week. She does have several licenses, however, which means she spent about 1 1/2 years studying for them.


The FA route is really different from these other 2 sides of the business. Really, it is a sales job, atleast initially. However, it can produce a higher income than the Compliance or JD/MBA route. Also, as you get older, the FA route seems to have more job security than say a Portfolio Manager who has a bad performance run.


Jul 21, 2007 4:09 pm
lady_trader:

Cvaria-


It seems like you have a broad amount of interests. What do you think you are best at? What kind of job will afford the lifestyle that you want?


I have looked at the JD/MBA route. One thing that I would say I learned from looking at the is that the reputation of the school is really important. I am not sure of your financial situation, but the amount of debt to do a MBA program scared me. In my profession, I have met several people who have this combo or one. Normally, they aren't really in sales, they are management or a Portfolio Manager/analyst. There is a JD who does Estate Planning for Merrill's region near me.


A very good friend of mine has a Compliance job and it allows her to only be in the office 3 days a week. She does have several licenses, however, which means she spent about 1 1/2 years studying for them.


The FA route is really different from these other 2 sides of the business. Really, it is a sales job, atleast initially. However, it can produce a higher income than the Compliance or JD/MBA route. Also, as you get older, the FA route seems to have more job security than say a Portfolio Manager who has a bad performance run.



I live on the east coast and really I want to get in to compliance and
the as far as standard of living.   I just want a decent porsche, an
okay home, a boat...  and the ability to live my life comfortably... no
need for billions of bucks but the I'll never say not to honest money.   

I'm more than willing to sacrifice for what i want but the cost of all this is a bit of a burden.  having a joint mba/j.d. will give me options.  the mba or progress toward it is now a standard as far as most companies are concerned.

Jul 21, 2007 4:13 pm
Bobby Hull:
cvaria:
OldLady:

Please don't do anything right now.  You are likely about to make a terrible mistake.


Why do you want to get registered?  What do you know about this business?  Why do you want Quest to sponsor you? 


Help us help you.



I'm doing it on my own because I've been trying to break in to the field since I graduated last year with no success.   I go to interviews and the firms refuse to sponses me for the 7 & 63.  they offer tuition reimbursement but  no sponsorship.   I remember  getting called for an interview with T. Rowe Price and specifically asking  if the job would offer  sponsorship  for the two licenses, the HR rep said sure, then  later- sitting i mentioned it and they said they don't do that.  I want to earn money dealing in securities and later move into compliance.  Quest came up while I was asking around and I approached them.   I'm very tired of waiting for someone to tell me that I'm good enough to make money.. I know  I am.  ...(with a little coaching).


Good luck in your pursuit of mediocrity.


Well, Sir, What do you suggest I do?

Jul 22, 2007 12:30 pm
cvaria:
Bobby Hull:
cvaria:
OldLady:

Please don't do anything right now.  You are likely about to make a terrible mistake.


Why do you want to get registered?  What do you know about this business?  Why do you want Quest to sponsor you? 


Help us help you.




I'm doing it on my own because I've been trying to break in to the field since I graduated last year with no success.   I go to interviews and the firms refuse to sponses me for the 7 & 63.  they offer tuition reimbursement but  no sponsorship.   I remember  getting called for an interview with T. Rowe Price and specifically asking  if the job would offer  sponsorship  for the two licenses, the HR rep said sure, then  later- sitting i mentioned it and they said they don't do that.  I want to earn money dealing in securities and later move into compliance.  Quest came up while I was asking around and I approached them.   I'm very tired of waiting for someone to tell me that I'm good enough to make money.. I know  I am.  ...(with a little coaching).


Good luck in your pursuit of mediocrity.



Well, Sir, What do you suggest I do?


When you get turned down again and again it is God's way of telling you that you don't have what it takes--at least not with the firms who are turning you down.


It might be as simple as you're too young, or perhaps it's more complex.  People can be too ugly, too fat, too skinny, too limp-wristed, have mutant body-odor, or any of hundreds of other things.


You also seem to be telling dicison makers that you have no intention of actually working very hard or very long.


You're asking sales managers to hire you by telling them that you intend to use them to get a license and then move on to something else, such as compliance.


What makes you think you're cut out for compliance?


I suspect you're one of the world's worst interviewers--go get a copy of a book on interviewing.  Learn how to talk less and listen more.


In interviewing he who speaks first loses.

Jul 22, 2007 2:59 pm
Devil'sAdvocate:
cvaria:
Bobby Hull:
cvaria:
OldLady:

Please don't do anything right now.  You are likely about to make a terrible mistake.


Why do you want to get registered?  What do you know about this business?  Why do you want Quest to sponsor you? 


Help us help you.



I'm doing it on my own because I've been trying to break in to the field since I graduated last year with no success.   I go to interviews and the firms refuse to sponses me for the 7 & 63.  they offer tuition reimbursement but  no sponsorship.   I remember  getting called for an interview with T. Rowe Price and specifically asking  if the job would offer  sponsorship  for the two licenses, the HR rep said sure, then  later- sitting i mentioned it and they said they don't do that.  I want to earn money dealing in securities and later move into compliance.  Quest came up while I was asking around and I approached them.   I'm very tired of waiting for someone to tell me that I'm good enough to make money.. I know  I am.  ...(with a little coaching).


Good luck in your pursuit of mediocrity.



Well, Sir, What do you suggest I do?


When you get turned down again and again it is God's way of telling you that you don't have what it takes--at least not with the firms who are turning you down.


It might be as simple as you're too young, or perhaps it's more complex.  People can be too ugly, too fat, too skinny, too limp-wristed, have mutant body-odor, or any of hundreds of other things.


You also seem to be telling dicison makers that you have no intention of actually working very hard or very long.


You're asking sales managers to hire you by telling them that you intend to use them to get a license and then move on to something else, such as compliance.


What makes you think you're cut out for compliance?


I suspect you're one of the world's worst interviewers--go get a copy of a book on interviewing.  Learn how to talk less and listen more.


In interviewing he who speaks first loses.



Okay, maybe you are right.. maybe I should lie to them just to get in the door then bend them over.  (sarcasm)  you may be right about being upfront with what i'd like to do but it has never occurred to me that that was bad.  I'll do what you said to do.  I'll fetch a book,  then honestly look at my INT. skills.

Jul 22, 2007 3:21 pm
cvaria:



Okay, maybe you are right.. maybe I should lie to them just to get in the door then bend them over.  (sarcasm)  you may be right about being upfront with what i'd like to do but it has never occurred to me that that was bad.  I'll do what you said to do.  I'll fetch a book,  then honestly look at my INT. skills.


Maybe?


Has it occured to you that you're going to fail as a registered rep, and that failed registered reps are not highly sought as compliance types?


Here's an idea.  Since you want to work in compliance, why not apply for a compliance job?  That may be a radical departure from common sense, but who knows, it might just work.


One more observation.  It's always a good idea to know how to write a complete sentence without a single mistake.

Jul 23, 2007 9:26 am
Devil'sAdvocate:
cvaria:



Okay, maybe you are right.. maybe I should lie to them just to get in the door then bend them over.  (sarcasm)  you may be right about being upfront with what i'd like to do but it has never occurred to me that that was bad.  I'll do what you said to do.  I'll fetch a book,  then honestly look at my INT. skills.


Maybe?


Has it occured to you that you're going to fail as a registered rep, and that failed registered reps are not highly sought as compliance types?


Here's an idea.  Since you want to work in compliance, why not apply for a compliance job?  That may be a radical departure from common sense, but who knows, it might just work.


One more observation.  It's always a good idea to know how to write a complete sentence without a single mistake.


Okay- I can see where you're coming from.  I understand that being a jerk is hard work.  But don't take your frustrations out on others.  learn to read, and then to research.  Then maybe I'll not grain of salt your words.  honestly though... I think your rubbish is better suited for a craigslist rant and rave room not a serious forum.... but that's just me.  here: http://newyork.craigslist.org/rnr/

Jul 23, 2007 9:33 am

I don't know if a job in compliance pays enough to own a Porsche, boat, and a nice home.  I guess it would depend on geographic region.  There's no need to become an FA to move into compliance.  You can get licensed by becomine a sales assistant, many firms will sponsor you for licenses, I know many people who got licensed that way.  Our previous compliance officer started out as a sales assistant, got licensed and just kept moving up the ladder.  Eventually when the compliance officer left, she took the job.  She now works for the NASD I believe.  Becoming an FA is not a good stepping stone into compliance.  It's not worth the grief if you don't intend on it becoming a long term career.



cvaria:


I live on the east coast and really I want to get in to compliance and the as far as standard of living.   I just want a decent porsche, an okay home, a boat...  and the ability to live my life comfortably... no need for billions of bucks but the I'll never say not to honest money.   

I'm more than willing to sacrifice for what i want but the cost of all this is a bit of a burden.  having a joint mba/j.d. will give me options.  the mba or progress toward it is now a standard as far as most companies are concerned.
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