I am changing careers and am considering getting into financial services and eventually become a CFP. It appears that to get most entry level jobs, I need the 6 & 7, 63 as well as a Life, Accident and Health license. Is this correct?
Also, I have a good financial background (BS & MBA), but no retail investment experience, will this be a big problem?
Do You Need To Get An Insurance License (to Sell Annuities) For Each State Or Is There Reciprocity?
13
Sep
mrlw18
September 13, 2009 at 11:23 pm
You’ll need to get an insurance license in each state.
You named all of the correct licenses (at least to get started). However, you’ll want to get a VARIABLE Life and Health. This allows you to sell variable annuities.
You have nothing to worry about with your education. The only question is: Can you sell? It takes the average financial advisor 3 years to start to “make it” (i.e. $60k+). You’ll have to really work your tail off. I have a buddy who has been a financial advisor for 6 months and he has already made $45,000 — he’s doing really well. So it is possible.
My advice: stay away from investment firms that talk about “Multi-level marketing” or that allow you to do this job part time. I’ve been full-time for over 4 years now and I still learn new things every week. Get in with a firm that will give you training and allow you to really help you clients.