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63 compared to the 66

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Sep 20, 2005 10:36 pm

My firm will only sponsor me for the 63 and not the 66.  Is this a bad thing?

Sep 20, 2005 11:26 pm

What firm do you work for and where you located?

Sep 21, 2005 1:50 am


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.

Sep 23, 2005 11:50 am

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.