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