Getting paid to study
In this day and age are there any firms other than Edward Jones that offer paid training for the Series 7 and/or 66. I just was curious if there are othe options?
Hahaha. Are you joking? Every single firm pays to study except the really crappy ones.
I have not done a survey but I would think that most brokerage firms pay new employees a salary while preparing for the exam. However, it is not like you are spending all of your time studying. You are also getting training on how to be an effective financial advisor. I do know that Morgan Stanley, Merrill Lynch and Raymond James have programs in place to pay new advisors.
That was my experience. I was hired on as a Financial Associate- they said we want you to get the 7 and 66 eventually. If you finish with 6 months, you get X bonus + X Raise. Otherwise, you just get the X bonus no promise of the raise that year. They aren't that strickt here-they give you time to get it done... quite a few people don't even have their 66 and probably never will. Id say a lot of firms help you get the 7 and 66 just depends on how much pressure they put on you to get it done- and the time frame they expect you to. some places fire you if you don't pass in 2 attempts, or even the 1st time.