How to Become a Financial Advisor in Florida
Becoming a financial adviser in Florida requires completing several tasks. In addition to completing the pre-licensing education requirements, you will need to pay licensing and fingerprinting fees. You will also need to take and pass FINRA's Series 6 and 63 licensing exams.
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Things You'll Need
- Fingerprint documents from a Florida insurance department-approved facility
Instructions
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Becoming a Financial Adviser in Florida
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Enroll in, and complete, one of Florida's required pre-licensing classes. There are two options. You can either complete one 40-hour approved insurance course or a three-credit hour class on life, health and variable annuity class from an accredited college or university. If you take a college course, you will need to provide an official transcript to prove you completed the course.
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Get your fingerprints taken at one of the approved facilities. You must use a facility on the list and you must register. Your fingerprints will be submitted electronically to the State of Florida.
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Take Florida's licensing exam. When you pass this exam, you will be eligible to write life insurance, health insurance and fixed annuity contracts. You will not be able to write variable annuity contracts or offer products like mutual funds or variable annuities until you have passed FINRA's Series 6 and 63 exams.
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Register for and take FINRA's Series 6 and 63 exams. Passing these exams gives you the license to sell variable products. The Series 6 limits you to selling variable annuities, mutual funds, and a few other products. If you want to be able to sell individual stocks or bonds, you will need to take FINRA's Series 7 exam.
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Pay the applicable fees to the State of Florida to register as a financial adviser.
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Tips & Warnings
Find a broker-dealer you would like to work with. They will need to help you register with FINRA to take the licensing exams.
Pre-licensing classes are offered online as well. Before registering, check with the Florida Department of Financial Services to verify it is an acceptable course before you enroll.
Register for the fingerprint vendor you intend to use. If you decide to switch to another approved vendor after registering, you will not receive a complete refund from the first vendor.
People with a prior criminal history may have problems becoming a financial adviser. Contact the Florida Department of Financial Services to see if you are eligible before enrolling in any classes or paying any fees.
If you are an employee of the Department of Veterans Affairs, funeral director or the employee of a funeral director, you may not be eligible for licensing according to Florida statute.
References
Resources
- Photo Credit Making a financial plan image by Allen Stoner from Fotolia.com
