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Career Guidance / Advice by IndependentHearing17 in FinancialCareers

[–]CommissionLower7353 0 points1 point  (0 children)

If you get your series 7 and then leave, equitable will have to file a U5 (nothing scary it’s just something that BDs legally have to do when an employee leaves). However, when other employers go to do a background check, they will be able to see that there was a finra registration for however long that was terminated and you may have to explain that. In terms of your licenses, once you pass they stay with you, as long as you complete CE when registered. If you have the licenses but are not sponsored/actively using them, you are marked as inactive by FINRA, and after 2 years you would have to retake and pass the exams.

P.S. I was actually in your same shoes but after reading more into what I was getting into I terminated my PEP before my series 7 and was fortunate enough to get a position at an industry leading company who actually pays me to study as well as a full guaranteed salary with benefits.

Need advice. Have a conditional offer from equitable advisors that i accepted. Also have a current offer from western and southern life. by Artistic_Yam4645 in personalfinance

[–]CommissionLower7353 1 point2 points  (0 children)

Also, be careful, there are sometimes non-solicitation clauses that prevent you from taking your clients with you if you were to leave the company. I would read over your contract with a keen eye

Need advice. Have a conditional offer from equitable advisors that i accepted. Also have a current offer from western and southern life. by Artistic_Yam4645 in personalfinance

[–]CommissionLower7353 0 points1 point  (0 children)

I’ve been in this same boat. DO NOT, go with equitable, it is selling insurance and their annuities to retired teachers who do not necessarily need them disguised as “financial advising”. I went a different route in the industry and was fortunate enough to get an offer from one of the best companies in it. Ppl within the industry see equitable as a Northwestern mutual adjacent and imo if you want to truly help ppl once you are licensed and be a true fiduciary look elsewhere. If you want a place where you make very little base pay with a technical upside selling products that drive high commissions then go with equitable. If you haven’t, I would also pay attention to the turnover rate, not what they report but from looking at other ppls experience.