What are some of the financial Licenses a typical investment advisor might have?
There are many different licenses that an investment professional might hold, depending on their specific job responsibilities and the regulatory requirements of their jurisdiction. Here are a few examples of licenses that an investment professional might hold, along with a description of their main functions:
- Series 7: The Series 7 license, also known as the General Securities Representative License, is a professional certification issued by the Financial Industry Regulatory Authority (FINRA). It allows the holder to sell securities products, including stocks, bonds, mutual funds, and ETFs, to retail investors.
- Series 6: The Series 6 license, also known as the Investment Company and Variable Contracts Products Representative License, is a professional certification issued by FINRA. It allows the holder to sell mutual funds, variable annuities, and other investment company products to retail investors.
- Series 63: The Series 63 license, also known as the Uniform Securities Agent State Law License, is a professional certification issued by FINRA. It allows the holder to sell securities products in a specific state or jurisdiction.
- Series 65: The Series 65 license, also known as the Uniform Investment Adviser Law License, is a professional certification issued by FINRA. It allows the holder to provide investment advice to clients and to manage their investment portfolios.
- CFP: The Certified Financial Planner (CFP) designation is a professional certification awarded by the Certified Financial Planner Board of Standards. It indicates that the holder has met certain educational and experience requirements and has demonstrated competency in financial planning. CFPs are trained to help clients develop and implement financial plans to achieve their financial goals.
These are just a few examples of licenses that an investment professional might hold. There are many other licenses and professional certifications available, depending on the specific job responsibilities and regulatory requirements of the investment professional. It is important to carefully consider the relevant licenses and qualifications when selecting an investment professional.
Which if any of these licenses would help with someone who advises on estate planning?
Estate planning involves the process of creating a plan to manage and distribute your assets during your lifetime and after your death. An investment professional with expertise in estate planning can help you create a plan to achieve your financial and personal goals and to minimize taxes and other costs.
There are a few different licenses that an investment professional might hold that could be relevant to estate planning, including:
- Series 65: The Series 65 license, also known as the Uniform Investment Adviser Law License, allows the holder to provide investment advice to clients and to manage their investment portfolios. An investment professional with a Series 65 license could potentially advise on estate planning by helping clients create an investment plan that aligns with their estate planning goals.
- CFP: The Certified Financial Planner (CFP) designation indicates that the holder has met certain educational and experience requirements and has demonstrated competency in financial planning. CFPs are trained to help clients develop and implement financial plans to achieve their financial goals, including estate planning.
- J.D.: A J.D., or Juris Doctor, is a professional degree in law. An attorney with a J.D. degree could potentially provide estate planning advice by helping clients create a legal plan to manage and distribute their assets.
It is important to note that these licenses and qualifications do not necessarily indicate that an investment professional has expertise in estate planning. It is always a good idea to ask about an investment professional’s experience and qualifications before engaging their services.
