[quote=28 July][quote=Terminator]

Put, why his it so hard for you to read my post. You didn't answer my question.

Once more slowly..... If my licenses are suspended, can I still work as a fee based planner?

Did you get this time, MORON !!!!!!!!!!!!!!!!

[/quote]

I really have to go--but you need to tell us what licenses you lost?

[/quote]

Less than an hour--that's what's great about NYC, you can get out, get it done, get back.

OK, let's get to this.

First.  I asked about suspended or lapsed because it is possible to be fired--the term terminator used--without losing your licenses.  You could be fired because you were not producing, you could be fired because your broker dealer closed their office in your town.  It is possible to be fired and still be qualified to do everything.

Or you you could be fired because you were a rogue broker.  Normally that happens like this.  The NASD suspends your license then, because  you cannot work, your firm fires you.

Terminator--who is actually Joedabrkr--was playing a game of gotcha and I was simply turning it around on him.

The other issue is who lifts your licenses.  Most of you will have a 6 and 65 or a 6 and 66 pairing.  These are NASD licenses.  The 6 or 7 allows you to earn commissions from selling things--it is a federal license.  The 65 or 66 qualfies you in the states and to act as an Investment Advisor Representative or IAR.

These licenses can be suspended by the NASD, and if they are you will be ineligible to work for an NASD member firm while they are suspended.  Most suspensions are for 90 days, but they can go on for as long as a year.  If the NASD thinks you should nto be in the biz period they will "bar you for life" rather than suspend you.

Now, let's suppose you were in fact barred for life.  Could you become a fee only financial advisor.  It is my believe that the sad answer is yes.  The reason is in the buraucracy.

You see, the NASD is who barred you, but if you don't work for an NASD member they have no control over what you do.  So you could open up "Ajax Planning" and become a fee only financial advisor.  Some states may restrict your ability to do this without a state mandated license but I am relatively sure that the SEC will not--unless you go across state lines with your cilentele.

In any case since you are not involved with a Securities Dealer--meaning you don't earn commissions--the National Association of Securities Dealers has no power to control your business or life.

So to answer Terminator's question.  Yes, if you are suspended by the NASD you can still become a fee based financial planner.  You may have to relocate to a state that does not have as a state rule that you must hold an NASD license, but there are states that do not.

I thank Put Trader for sending me an email about this while I was gone to the store.  It's a shame that he doesn't post here any longer, he's one smart cookie with a lot of good information for those who are interested in learning about this stuff.

Most of you will have a 6 and 65 or a 6 and 66 pairing.<<Previous Post

My bad, it should be 6 and 65 or 7 and 66 pairing.

[quote=Seven 28][quote=28 July][quote=Terminator]

Put, why his it so hard for you to read my post. You didn't answer my question.

Once more slowly..... If my licenses are suspended, can I still work as a fee based planner?

Did you get this time, MORON !!!!!!!!!!!!!!!!

[/quote]

I really have to go--but you need to tell us what licenses you lost?

[/quote]

Less than an hour--that's what's great about NYC, you can get out, get it done, get back.

OK, let's get to this.

First.  I asked about suspended or lapsed because it is possible to be fired--the term terminator used--without losing your licenses.  You could be fired because you were not producing, you could be fired because your broker dealer closed their office in your town.  It is possible to be fired and still be qualified to do everything.

Or you you could be fired because you were a rogue broker.  Normally that happens like this.  The NASD suspends your license then, because  you cannot work, your firm fires you.

Terminator--who is actually Joedabrkr--was playing a game of gotcha and I was simply turning it around on him.

I am absolutely NOT Terminator.  I have not found it necessary to constantly change my screen name and post under different aliases because I keep getting banned.  Unlike YOU Put Trader. You really should consider seeking professional help...there are plenty of good therapists in NYC.  Perhaps you should seek one of them out?

The other issue is who lifts your licenses.  Most of you will have a 6 and 65 or a 6 and 66 pairing.  These are NASD licenses.  The 6 or 7 allows you to earn commissions from selling things--it is a federal license.  The 65 or 66 qualfies you in the states and to act as an Investment Advisor Representative or IAR.

These licenses can be suspended by the NASD, and if they are you will be ineligible to work for an NASD member firm while they are suspended.  Most suspensions are for 90 days, but they can go on for as long as a year.  If the NASD thinks you should nto be in the biz period they will "bar you for life" rather than suspend you.

Now, let's suppose you were in fact barred for life.  Could you become a fee only financial advisor.  It is my believe that the sad answer is yes.  The reason is in the buraucracy.

You see, the NASD is who barred you, but if you don't work for an NASD member they have no control over what you do.  So you could open up "Ajax Planning" and become a fee only financial advisor.  Some states may restrict your ability to do this without a state mandated license but I am relatively sure that the SEC will not--unless you go across state lines with your cilentele.

In any case since you are not involved with a Securities Dealer--meaning you don't earn commissions--the National Association of Securities Dealers has no power to control your business or life.

So to answer Terminator's question.  Yes, if you are suspended by the NASD you can still become a fee based financial planner.  You may have to relocate to a state that does not have as a state rule that you must hold an NASD license, but there are states that do not.

I thank Put Trader for sending me an email about this while I was gone to the store.  It's a shame that he doesn't post here any longer, he's one smart cookie with a lot of good information for those who are interested in learning about this stuff.

I am NOT terminator.  I have no need to post under another screen
name.  Unlike yourself, Seven 28 a.k.a. Put Trader, I am not
constantly changing names because the last one was banned.