Passed the 66

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Sep 8, 2005 6:50 pm

Passed yeterday, got a 74.  Now  ill sit patiently and wait
for the  “real” brokers to flame me and say how they would NEVER
invest their money with me b/c I only know 74% of the material and I’m
not a real broker.

71 on 7

74 on 66. 

I know a lot of people dont seem to like STC for the 66, but I didnt
find it to be too terrible.  I passed, put it that way.  I
think that you can use their material and be fine.  Just my

On to my insurance license, then CFP and CLU. 

Sep 8, 2005 8:54 pm

Flaming?  No.

You overstudied.

Anything over a 70 is wasting brain cells.

Sep 8, 2005 9:01 pm

"On to my insurance license, then CFP and CLU."

You plan on opening any accounts between then and now??? 

The CFP is something I probably should do…but it won’t bring me more
business in my opinion.  Ask yourself this…if you were a branch
manager with 1 chair open in your office, would you hire:

A:  A CFP who produces $200,000, or

B:  A non CFP who produces $400,000

Who would you consider (all else equal) opening your acount with?

A: A CFP referred to you by a friend whose account is down, or

B: A non CFP referred to you by a friend whose account is up

My point is, the CFP is what it is…a certification.  This is a
performance business, and you get no points for being a good
student.  Passing the 7 gets yo in the door, it doesn’t keep you
in your seat.  If I were you I’d get that insurance license so you
can drop those beautiful annuity tickets, and worry about the CFP later
(and forget about the CLU, unless your selling insurance primarily).

On a side note:  Any opinions on getting the CFP vs CFA or
CIMA?  From a pure educational standpoint (as I said, I don’t
believe it will increase business) what do you all think is best?
(define “best” as you will).

Sep 8, 2005 10:14 pm

MT, Put Trader is gone, so I think you're safe from the flames.  You've passed the test and that is all that is really important at this point.  The CFP doesn't even post scores, just pass/fail.

I think you'll find the insurance test to be easier than the 66/7 and the CFP will be harder.  I'm biased, but I think the CFP is a good thing.  You may not always be able to measure the hard dollar benefits of having it, but undoubtably, for some clients, it will give a level of comfort and confidence that you'll do a good job for them.  You may never know how many accounts that you get/keep at least partially because you are a CFP.

I don't have a CLU, but I do a fair number of 2nd to die whole life policies for estate planning purposes, so I don't see not having it keeping me from writing insurance.  Then again, I have no educated opinion on the merits, since I have no first hand experience in what is involved in having it.

Sep 8, 2005 10:20 pm

I have fulfilled the CFP education requirement, just need to take the
exam and get the three years experience, but from taking those
courses  I feel that the CFP is far more applicable for us than a
CFA.  Lets not kid ourselves here, we are not doing discounted
cash flow analysis and other complex mathematical calculations in our
work, so everything that you’ll kill yourself to learn for the CFA is
basically useless.  All that studying for the CFA would be for
essentially nothing (other than alphabet soup) because we’re not using
it.  However everything I learned in my CFP courses actually
applies to the work we do every day, so in my opinion there is no

Most prospects would be satisfied if you had SIG on your card (Superior Investment Guru).  

Sep 9, 2005 10:20 am


MT, Put Trader is gone, so I think you’re safe from the flames. 


Oh yeah??  What happened to him? 

Sorry guys, I didnt mean that I was going to go head-on to CFP and CLU
just quite yet.  I’m going to do it on the side while
working.  Of course, I’d rather be the one producing, I just meant
to say that those were the next to licensing projects I was going to
work on.  I’ll probably start on insurance this weekend though,
for no other reason then to just get it over with and out of the

Thanks for the advice though guys.
Sep 10, 2005 12:53 pm


I've had my Series 7 for 5 years and passed the 66 last Thursday with an 80. Started my new job Tuesday and doing great so far. Congratulations on passing. Who cares what the number is above 71. After that, it's just Warstiener time! Good luck.

Sep 10, 2005 1:07 pm


Clearly you are not the supportive type...please step off.