Do I Pay for My Own Series 63 to Become a Financial Planner?
May 28th, 2009
Since the job market is so bad right now, I’m thinking of getting a job as a financial planner since it is the only one I can get! I was wondering if it is a good idea to get the series 63 on my own because it is one of the few Series exams that require no sponsorship? I know that I will also have to take things like Series 7 and a lot of other exams. I guess I am ready for them.
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Usually people do not want to pay for their own Series exams. You can join a bank and take the classes and tests for free while receiving salary at the same time. If you are working for big companies such as Waddell & Reed, Smith & Barney, Morgan Stanley, Goldman Sachs, or others big firms, they will give you a small salary while you work towards earning your licenses. Then after that you can earn commissions.
I would approach a financial planning agency first since many of them (definitely the best ones) help you with questions, testing and support while studying for the tests. If you take them on your own, you do not have financial or informational support. And, if they do pay for them, then you have just wasted time and money! (not good in this economy I would say)