Join us on this special episode of Coffee With Waymark, where Hanifa shares her path to becoming a financial advisor. Don't miss out—watch our 3-minute video to learn how she conquered three challenging exams to reach her goals!
Topics Discussed:
The SIE exam
The Series 7 exam
The Series 66 exam
Future plans to take the CFP® exam
Transcript:
Hello everyone and welcome to another episode of Coffee With Waymark. On today's episode, we thought we would share with you what it takes to become a financial advisor. So during the past 27 weeks, I've been doing exactly that. So I want to talk to you a little bit about the process and give you some information on the different exams I had to take.
The first exam I had to take is called the SIE®, or the Securities Industry Essentials®. This is an intro exam. It gives you some information on the industry, different accounts, different client situations you might face, and is basically an introduction to the industry.
The second exam I took is called the Series 7. The Series 7 was definitely longer than the SIE®. It's a little under four hours long, whereas SIE® was around two hours long. And this assesses your ability to make suitable recommendations to your clients. So suitability is basically making a recommendation that fits that client's needs and situation. So that exam was definitely more difficult than the SIE® because there was a lot more information involved and it went a lot more in depth on different situations.
So the last exam I took is called the Series 66. The Series 66 is what I like to call the legal bow on everything. This assesses your knowledge of both federal and state laws and provides you with knowledge that you need in order to make sure that you are operating in a legal capacity.
Overall, this whole process was very challenging, but I found it to be very helpful and I'm looking forward to using this new knowledge that I've gained in a lot more client meetings. What I've been doing so far, as some of you might know, is a lot of back office work, a lot of scheduling. So now that I'm licensed and can actually participate in client meetings, I'm looking forward to getting to know you guys a lot more and helping you achieve your financial goals.
And eventually I will be taking the CFP®. The CFP® exam is a lot more involved than these licenses. It requires a lot more experience and it requires a lot more knowledge. So I'm hoping to get that experience through our client meetings and I'm very excited overall, very thrilled to have passed all three exams on my first try, and we'll be sure to keep you all posted on my professional journey as we go along. So stay tuned.
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