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Oct 29, 2006 12:39 pm

I need some information, I have been tenatively hired (once passing the 7 & 66) at a firm (firm A). I paid a decent little chunk of change to take the tests and study material. I now realize that was not the best firm for me, after enduring the "training". I have been approached by another firm (firm B)(who would have paid for my licensing) and will be offered a position as soon as all of my background check information comes back.


Basically I don't want to approach firm A since if they do not sponser me I cannot take the 7 (in Dec.), to question whether or not I can get my money back. Does anyone know if I am screwed and will have to just stick it out, take the exams under firm A and lose my money (since the other firm will pay).


Another question I have is that I noticed something about people remarking on "black mark" on a U4, what constitutes this and is a person able to appeal it? The reason I ask, if firm A, after taking the 7 and 66 wanted to, could they create one of these "marks"? If I were to terminate my relationship with them.


For all the helpful answers, thank you, for all others, please walk into oncoming traffic.

Oct 29, 2006 1:55 pm
Start:

I need some information, I have been tenatively hired (once passing the 7 & 66) at a firm (firm A). I paid a decent little chunk of change to take the tests and study material. I now realize that was not the best firm for me, after enduring the "training". I have been approached by another firm (firm B)(who would have paid for my licensing) and will be offered a position as soon as all of my background check information comes back.


Basically I don't want to approach firm A since if they do not sponser me I cannot take the 7 (in Dec.), to question whether or not I can get my money back. Does anyone know if I am screwed and will have to just stick it out, take the exams under firm A and lose my money (since the other firm will pay).


Another question I have is that I noticed something about people remarking on "black mark" on a U4, what constitutes this and is a person able to appeal it? The reason I ask, if firm A, after taking the 7 and 66 wanted to, could they create one of these "marks"? If I were to terminate my relationship with them.


For all the helpful answers, thank you, for all others, please walk into oncoming traffic.



You're a total loser and you should go get a government job.

Oct 29, 2006 2:01 pm

Thanks for the reply, now please see the second part where you walk into oncoming traffic...I am sure your family does not love you anyway, and the world is overpopulated as it is. Please seek the closest highway or freeway (anytype of roadway) and proceed directly in front of a semi, or large truck...do not hesitate...this will work especially well if the vehicle is moving any spead above 60 mph.

Oct 29, 2006 2:19 pm
Start:

Thanks for the reply, now please see the second part where you walk into oncoming traffic...I am sure your family does not love you anyway, and the world is overpopulated as it is. Please seek the closest highway or freeway (anytype of roadway) and proceed directly in front of a semi, or large truck...do not hesitate...this will work especially well if the vehicle is moving any spead above 60 mph.



Will it matter if your mother is attached to one of my appendages?

Oct 29, 2006 2:34 pm

What are you out $200? C'mon dude...

Oct 29, 2006 2:35 pm

Very often questionable firms collect your money but don't actually register you with the NASD until they are about 90% sure that you're actually going to take the exam.


You should contact the NASD's Central Registration Department in Rockville, MD and ask them if you "are in the system."  They'll want to know your social security number and some other things--but they should be able to tell you that you are, or are not, known to the NASD at this point.


If you are NOT known to them it means the firm you gave the money to has not yet registered you.  A lot of firms have found that if the collect all those fees there is a certain fallout and they can just keep the money.


If you are in the system at the NASD there will have been some charges for processing you--but if you have not taken the exams you should be able to request a refund from Firm A for several hundred dollars.


Tell Firm A that you have decided to become something else--ANYTHING ELSE--and ask them for a refund.  They certainly should return what you paid for testing--and probably what you paid for state registrations which are almost always held off until you pass the exams and become registered with the NASD.


Again do NOT--as in DO NOT--tell Firm A that you've decided to go elsewhere.  You have simply decided to go into another business.  If you're young tell them that somebody advised you to wait a year or two--go get some sales experience, then come back.  If they have any sense they'll be thinking you'll come back to them and won't want to screw you over for some fees that they haven't even paid yet.


If they claim to have already paid your testing fees ask them for a refund anyway because you have not taken the tests and the way it works is if you showed up their--THEI--CRD account would be debited for your test. But if you have not been to the testing center there should be no debit to their account, so there should be no reason they cannot return your money.


Wait till you find out what is happening with Firm A before you process into Firm B.

Oct 29, 2006 2:37 pm

Wow, what a comeback!!!!! Thanks!!!!!!!

Oct 29, 2006 2:37 pm
bankrep1:

What are you out $200? C'mon dude...


Some of these firms will collect between $1,000 and $1,500 from an applicant--walking away from it can be painful when you're young.


It's a shame so many of you have no idea what you're talking about.

Oct 29, 2006 2:39 pm

Thank you D.A., and bankrep1, a little more than $200.

Oct 31, 2006 12:45 pm

I think it is dissappointing that you did not do more work to find a good  company to start and stay with.


That being said, Ameriprise fools lots of folks.  Go to a reputable firm, see if you get an offer.   They will help you.


Better now than later.  good luck.


I like your spirit.  don't let the jerks get you down.