63 compared to the 66
My firm will only sponsor me for the 63 and not the 66. Is this a bad thing?
What firm do you work for and where you located?
Lav...
If you are NOT doing fee based work, you have no need for the 65 or66. That me be why your B/D won't sponsor you.
The 66 will give you a lot more options. You can always get that certification in the future, by taking the 65 (Series 66 = 63 +65).
There is a massive move in the industry towards fee based business. The argument is that it is better for the client, broker, and firm. Without a question, it is definitely better for the firm. From the broker's stand, it does indeed free-up your time to gather additional assets. The client may or may not benefit from fee-based business; it really depends on their needs.
From a personal standpoint, when I was on the client side of the table, knowing what I know now, I wish my broker would have put me in a fee-based program and managed the managers. He wasn't very good at playing portfolio manager, and it showed.
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