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Series 7/63 and Outside Business Activities
Posted on 5/19/15 at 10:09 am
Posted on 5/19/15 at 10:09 am
I apologize in advance if this question is on the wrong board, but it seemed like the most applicable place.
I was hoping someone could help answer a question, or direct me to resources regarding Series 7/63 license holders and outside business activities.
Specifically, if someone held a series 7/63 license as a financial professional, what limitations does that put on that person in terms of having work or earning income outside of the financial position which requires a Series 7/63? E.g. If I'm a financial advisor for ABC Financial, can i also do some 1099 consulting work for XYZ Energy in their corporate finance department?
Any help is appreciated.
I was hoping someone could help answer a question, or direct me to resources regarding Series 7/63 license holders and outside business activities.
Specifically, if someone held a series 7/63 license as a financial professional, what limitations does that put on that person in terms of having work or earning income outside of the financial position which requires a Series 7/63? E.g. If I'm a financial advisor for ABC Financial, can i also do some 1099 consulting work for XYZ Energy in their corporate finance department?
Any help is appreciated.
1
Posted on 5/19/15 at 11:00 am to The Big Bro
I believe this will be dependent on your B/D.
Posted on 5/19/15 at 11:22 am to Janky
Yea what Janky said. You'll have to disclose it at the very least and if you cross a threshold for income from the other company is where it gets complicated.
I would also think since you don't have your 65 license that you might not be scrutinized quite as much for it since you can't act in a fiduciary capacity.
I would also think since you don't have your 65 license that you might not be scrutinized quite as much for it since you can't act in a fiduciary capacity.
Posted on 5/19/15 at 2:19 pm to Shepherd88
Thanks for the help guys. I've googled a few semi-helpful resources but that's all good info. I appreciate it.
Posted on 5/19/15 at 2:22 pm to Shepherd88
quote:
and if you cross a threshold for income from the other company is where it gets complicated.
I will also add that they look at time involved. If it consumes so much of your time that you may be neglecting your other clients they will take issue. Good luck.
This post was edited on 5/19/15 at 2:24 pm
Posted on 5/19/15 at 2:53 pm to Janky
your larger broker dealers won't allow it, if you're independent its not a problem..one of my good buddies in town is an independent broker and the cfo of an oilfield company
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