An important benefit of holding a Series 6 license is that it entitles the holder to buy and sell mutual funds on behalf of clients. Earning this license provides confidence that an educated representative will handle the investments of clients. A representative such as this should know how the securities markets operate. The SEC trusts that the financial representative will strive to make the best decision for the client.
The Financial Industry Regulatory Authority – or FINRA embraces the accountability for governing business among sellers, brokers, and public investors. The regulatory body is a joint agency of the regulation agency of the New York Stock Exchange and the National Association of Securities Dealers. FINRA issues licenses for individuals interested in promoting financial products like variable annuities and mutual funds.
Consisting of 100 multiple choice questions, the exam lasts for 2.25 hours. The test is given Monday through Saturday at a Prometric Test Center.
The test covers the following topics:
– Variable Annuities
– Mutual Funds
– Insurance Products
– Retirement Plans
– Securities Markets and Regulations
– Investment Policies
– Customer Accounts and Orders
A benefit of holding the Series 6 license is having the comprehensive knowledge of the area of marketing, in addition to operating and servicing client accounts. This detailed knowledge of financial products, tax laws and securities markets and finances is very important to make certain that a broker can properly handle investments.
It is important to note that in order to take the exam to earn the license; a person must be sponsored by a financial organization that belongs to FINRA. With this security, clients do not have to trust just anyone who desires to promote financial products.
This license shows credibility, prestige and responsibility. The accountability of analyzing and keeping an eye on client funds has immense rewards. The wages for a person new to the business is over 50,000 dollars a year. After several years in this field, earnings can reach as high as 175,000 dollars each year.
An important part of the securities industry which provides clients the confidence needed in financial professionals is the Series 6 license. Whereas the honesty of any person is not fail-safe to be above board, obtaining this license instills a rank of assurance for consumers who invest in financial goods. Whether one is planning to take the exam or needing information on requirements of people selling financial products, the Series 6 license is extremely significant.
Sam is a popular blogger and author in the securities trading industry. He helps people pass the Series 6 license exam and other securities exams. He recommends AB Training Center for quality Series 6 exam training classes. For more information on securities licenses, check out Sam’s other blog posts and articles.