I’ve been advocating for 15 years for advisors to get their Series 65 license.
Insurance agents should consider getting a 65 license so they can:
- Be able to provide more comprehensive advice
- Increase revenue (pick up more clients and make more per client)
- Create reoccurring revenue
- Insulate themselves from regulatory issues (like the DOL rules)
For Series 7 licensed advisors, they too should consider getting a 65 so they can have the option of moving away from the B/D channel and into the more “independent” space (the RIA/IAR world which is where the industry is trending toward).
Worried about passing the 65 exam or already failed it once?
Many advisors worry about passing the Series 65 exam. Most buy the Kaplan study material and say it’s not bad, but a so-so job of teaching people how to take/pass the exam.
I found a company that does nothing but teach advisors how to pass the exam and since I know that’s really what advisors want; I thought it was worthy of a newsletter.
TestGeek Exam Prep
Here is a quote from the TestGeek website:
Pass your test the first time with a comprehensive course
that will illustrate exactly the content you need to know.
Here is the website for this exam prep course: https://testgeekexamprep.teachable.com
The cost is only $129 (and I receive no remuneration for this newsletter).
I spent three years in law school, and I was NOT prepared to take the bar exam. I spent 6 weeks in a bar exam prep course and all they did was teach us how to take the exam.
So, when Joe Maas told me that TestGeek is similar to a bar prep course for attorneys, I thought I should make readers aware that it exists. If you are studying for the 65 exam, I wish you luck. If TestGeek can help, then I’ll feel good about this newsletter.
Use a Decision Tree to Decide if You Should Become Series 65 licensed
Not sure if you should get your 65 license? I created a decision tree to help advisors determine how to make that decision. To download a decision tree that you can fill out, click on the following:
https://advisorshare.com/decision-tree
How to Gather Assets Under Management with or without a 65 License
Webinar—On Recording
To sign up so you can learn more about what we are calling “Advisor Launchpad,” (a platform to help both non-65 and 65-licensed advisors grow revenue), click on the following link:
https://advisorsharewm.com/launchpad-signup
Launchpad allows NON-licensed advisors to build a book of AUM BEFOREgetting licensed.
What will our ASWM team do?
- We will analyze the client’s current portfolio (in OnPointe Risk Analyzer).
- We will talk with clients and explain why their current portfolio isn’t very good.
- We will MAKE RECOMMENDATIONS on how to generate better risk-adjusted returns than their current portfolio by properly using FIAs.
- We will take their AUM from their current advisor and treat it as a “house account.”
Even though our RIA did the heavy lifting to onboard the AUM, with the client’s approval, we will turn over that book of AUM over to the advisor and bam, an instant book of AUM!
Are you ready to improve your offering so you can onboard more clients, give more comprehensive advice, sell more FIAs, and build a book of AUM you can take over?
*ASWM CANNOT pay non-licensed advisors for AUM gathered from non-securities licensed advisor referrals. To make money from such AUM, advisors need to obtain a Series 65 license and come on board with ASWM as an IAR.
