You haven’t told us enough.  What’s the name of the firm?  Are you on a team?  What’s your payout?  Who do they use to do their clearing?  Are you going to be getting your 65/66 after the 63?–otherwise you won’t be doing any fee-based business.  

for the sake of my own privacy, id rather not disclose the name of the firm. everything looks good on finra brokercheck, and my own intuition tells me its not a boiler room operation.

RBC Dain is the clearing agent.

id much rather get the s63 over the s66 because i need a paycheck asap. the s7 has taken me so long that i can not afford the time to get the 66 - i want to start trading NOW. i do have ambitions of eventually getting my s24 and becoming a principal.

i will find out about teams and payout if i pass this friday. what should my expectations be and what questions should i ask?

Well, for starters, you need to know what the payout is.  Production requirements.  Whether or not you’re considered part of a team, or not.  And if so, what you’re senior guy’s payout is.  Wouldn’t be a bad idea to have some idea of what you’re expected to sell, and to whom.  If you’re a rookie, will you be on some kind of salary and commission for a few months, up to a couple of years?  Because that’s what you would get at a major firm or wirehouse.

Frankly, it all sounds pretty vague. 

thanks for the quick responses bodysurf

yes, i am a rookie/newbie to the securities industry. basically, i havent been told much except “pass your 7”. i just need to know the right questions to ask and what to ask for when i walk in after i get my license.

thanks again.

I agree. Don’t mess around with the 63. Get your 66 and be done with it. Not any harder than 63, just a little longer. For now though, just pass your 7 and stay off the message board. You are liable to read something that will piss you off and throw off your concentration. We will be here when you get back! Good Luck!

People probably go to that firm for one reason and one reason only, to be filthy rich... we aren't saving the manitees here..

passed the s7 today with a 78% and expecting to take the s63 in about two weeks. i went into the firm today and i was given the breakdown-
for the first three months: 300/week trainee salary + 80% payout.
after 3 months: no salary, 50% commission, full benefits.
negotiated commission when i hit certain levels. no requirement to open X amount of accounts - i start trading for myself immediately. no teams, but working next to the two partners so that i can hone my cold call and closing skills. when im good i move to the “other side” of the office and im on my own. i asked about the 66 over the 63, and they said theyre more than happy to set me up for the 65 when i get the 63 out of the way.

opinions?

It’s going to be the fastest three months of your life.