Mutual funds are regulated securities investments overseen by the Securities and Exchange Commission. Persons soliciting and selling mutual funds must hold at least a Financial Industry Regulatory Authority (FINRA) Series 6 license demonstrating an understanding of the economic market, how mutual funds work, and the ethics of financial sales. there is. There are other licenses that permit the distribution of mutual funds, such as Series 7 and Series 65, but the minimum requirement is Series 6, which is a limited registered agent.
Get hired at a firm that is registered with the Securities Exchange Commission as a member firm capable of sponsoring you.
Request a package from your supervisor or human resources about obtaining a Series 6 license. You may also wish to review the requirements for the license at FINRA.org. The package should include a U5 background history, fingerprinting and exam registration.
Fill out the U5 form completely. There should be no gaps in your previous 10 years of employment history, education or residence. Times of unemployment should be designated as such to complete the time line.
Get your fingerprint card completed at a police station or notary public office. Every registered representative must have fingerprints maintained on the FINRA database.
Submit the U5 and fingerprint card with the filled-out registration form for the Series 6 exam. Request the study materials for the exam or register for a class.
Take the Series 6 exam and pass it with a 70% or higher. The Series 6 consists of 100 multiple choice questions that must be completed within 135 minutes.
Register for the FINRA Series 63 exam, which demonstrates an understanding of state and federal securities regulations. You will need this to obtain state registration.
Pass the Series 63 with a 70% or higher. This is an exam with 60 multiple choice question, which must be completed within 75 minutes.
Pay the registration fees through your brokerage firm for the states in which you wish to solicit and sell mutual funds.