| There are many people who feel that to | | | | a resume and only takes 4-6 weeks to |
| make money in todays market and in the | | | | study for. If you are looking to add |
| future, you must work off of advisory | | | | financial credentials prior to entering |
| fees and not commissions. | | | | the securities business, the Series 65 |
| An Investment or Financial Adviser is | | | | is a great license to get. It is a |
| someone who manages a portfolio or | | | | multiple choice test and no educational |
| advises a person what to do in their | | | | pre-requisites are required. |
| portfolio. For these services, an | | | | A few states do not require an |
| Adviser can retain a fee for doing so. | | | | individual to hold a SERIES 65 to |
| They operate much like an Accountant or | | | | practice investment advice but it is a |
| an Attorney would. Rather than directly | | | | good idea to get it anyway. You want to |
| sell a security for commission, they | | | | be aware of certain rules and background |
| will receive a fixed percentage of the | | | | of the industry. The licensing |
| assets they manage. The license that | | | | curriculum will explain all of the |
| most of them receive is the SERIES 65 | | | | securities that apply. It is also a good |
| (Registered Investment Advisor). What | | | | "Title" to practice business under. |
| makes this arrangement attractive for | | | | Thousands and thousands of CPA's, |
| the Adviser is that your income stream | | | | Lawyers, and other professionals have |
| is much steadier. Your fees are set so | | | | obtained their SERIES 65 license and |
| if a customer is not particularly | | | | became Financial Advisors. The ability |
| active, you still retain the normal | | | | to offer investment advice to their |
| advisory fee you charge. | | | | existing clientele has proved to be very |
| The arrangement is equally beneficial to | | | | beneficial to their business. |
| the customer. A customer does not feel | | | | You are not allowed to work on |
| the same pressure to buy as they would | | | | commissions and advisory fees from the |
| from a commission Stockbroker. A | | | | same client. The SEC views that as |
| Stockbroker does not make money unless a | | | | "double charging", so you should decide |
| customer buys or sells. | | | | what route is best for you. As said |
| The SERIES 65 does not need to be | | | | earlier, many feel the "fee route" is |
| sponsored and can be practiced | | | | the best way to go now. |
| independently. It also looks terrific on | | | | |