You may be an aspiring Financial Services Professional that has decided that you want to take the Series 6, Series 7 or other Securities exam on your own. You need to understand that you can take preparatory classes or study by computer based training (CBT) on your own but you need to be sponsored by a FINRA Broker-Dealer. Sponsorship is usually obtained through an employer who is part of a self-regulatory organization (SRO) or is a member of the Financial Industry Regulatory Authority (FINRA). Most Broker-Dealers, Wirehouses and Major Insurance companies are FINRA members.

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Advance Sponsorship

The Series 6 and Series 7 securities exams require advance sponsorship by a firm prior to taking the exam. From time of application to time of taking the exam allow 8 weeks. Caution! Aspiring Financial Services Professionals need to exercise caution with dealing with third party sponsoring firms. Take time to understand the terms and conditions that the placement firm is putting in front of you. 

You Need A Employer...

Sponsorship really means you need an employer, plain and simple!. The most direct way to obtain sponsorship for the Series 7 or Series 6 exam is to get a job that offers Series 7 Sponsorship opportunities. Get a job as an agent/registered rep at an insurance company is a direct way. Going to work as a stockbroker trainee is another direct way. You may want to consider taking a job as Marketing or Sales assistant. These jobs may not pay much but they usually require you to be licensed as a Series 6 or Series 7 representative. Maybe you can negotiate with the Branch manager or sales person you will be working for that once you are licensed…they consider you for a full time professional position.

Many companies will reimburse you for exams fees and studying materials cost. Typically, you will have to pass a series of prerequisites before the company will process your sponsorship and test application. Be Ready for Background Checks

The Internet Can Help

To find a job with sponsorships, look on job boards like eFinancial Careers, Monster.com,6 Figure Jobs, SimplyHired.com and Indeed.com for job postings by securities firms that mention Series 7 or Series 6 sponsorship in their job description. 

Search for Sponsorship Opportunities - Key Words

We suggest you use a powerful search engine such as Googe, Yahoo or Bing. Use the following key words: Series 6 Sponsorship Kit,  Series 7 Sponsorship Kit, Securities Sponsorship, or Advisor Sponsorship Package.

Sponsorship by Third Party Placement Firms

Typically it works like this; prior to taking the Series 7 exam you will be required to interview with firms who will do a "due diligence" review of you. That same firm will employ you either as independent contractor or as an employee. Now keep in mind that the FINRA regulations assume that it is your intent is to go to work for the firm that sponsors you. This intent is not contractual and you can change your mind. If you do this, the sponsoring companies may require you to reimburse them for any cost of study materials and other expenses they paid for.

Fees May Look Like This

Sponsorship Processing and Fees	$900.00
Series 6 Exam Fees	$75.00
FINRA/FBI Fingerprinting	$31.00
FINRA Securities Registration	$85.00
State Securities Registration	$235.00
State Securities Exam Fees	$110.00
Supplement Exam Prep Materials	$125.00

What Happens If You "Fail"

If you fail the Series 7 exam (Or the Series 6 exam) on your first attempt, your sponsor can submit an request to reopen a window in which you can write the exam again. This window will not open until 30 days since your last exam attempt has transpired. At this point, your window will be open for 90 days. There is no requirement for a sponsor firm to terminate your employment should you fail. However, every time you rewrite the exam, you must pay the required registration fee. So your employer may require you to reimburse the fees they paid on your behalf. After three failed attempts, you must wait six months before you can re-write the exam for the fourth time. The six-month requirement is intended to provide a window in which an individual can ensure he or she is prepared for the fourth exam attempt. This process theoretically can continue indefinitely, as there is no limit as to the number of times you can attempt the series 7 or 6 securities exams. Please be advise that most firms will hesitate to hire a person that has failed these exams more than 3 times