You might not need the Series 6 if you have a Series 7 license and you don’t plan to sell life insurance. If you have a Series 3 license and decide to stop selling commodity futures in favor of mutual funds, you’ll need to earn the Series 6.

What license do you need to sell variable annuities?

The Series 6 license is known as the limited-investment securities license. It allows its holders to sell “packaged” investment products such as mutual funds, variable annuities, and unit investment trusts (UITs).

Is Series 6 or 7 better?

After passing the Series 6 Exam, you’re able to sell mutual funds, variable annuities, and other variable products on behalf of a company. Typically, the Series 7 is the better choice if you’re interested in selling individual securities either now or in the future.

Do I need a Series 7 to be a financial advisor?

While there is not a specific licensing requirement for financial advisors, they are generally required to have various securities licenses to sell investment products. These include the Series 6, Series 7, Series 63 and Series 65 licenses.

Do you have to pass series 7 to sell variable annuities?

That’s because variable annuities are classified as securities. To sell them, an agent will have to pass either a Series 7 test (which entitles them to sell most types of securities) or both Series 63 and Series 6 tests (which are tests more specifically focused on mutual funds, retirement plans, insurance products,…

Do you need insurance to sell variable annuities?

Insurance AND a Securities License are Necessary to Sell Variable Annuities. As you will learn in our interactive online insurance course as you prepare you the State insurance license test, Only a Life Insurance license is required to sell fixed annuities, but you also need a series 6 or series 7 if you are selling variable annuities.

What are the qualifications to sell an annuity?

To sell them, an agent will have to pass either a Series 7 test (which entitles them to sell most types of securities) or both Series 63 and Series 6 tests (which are tests more specifically focused on mutual funds, retirement plans, insurance products, and variable annuities).

What’s the difference between Series 6 and Series 7?

The Series 6 license allows a representative to sell only a limited set of investment products, whereas the Series 7 license allows a registered representative to sell a wider variety of securities. 1  2  Series 6 Exam