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How to Become a Mutual Fund Agent

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Selling any financial product is quite rewarding financially. You need to secure a series 6 license. If your state requires, you may have to test for a series 63 NASD license. If you only sell mutual funds, you can make a decent living, but most people get insurance licensed, too. These two licenses allow you to sell all insurance products, including variable annuities. Getting prepared to sell mutual funds is the first battle to overcome to have a successful career. After the initial licensing and securing a position, the task of prospecting and selling is your main hurdle.

Secure a college degree or sales experience. Most companies want someone with a degree or successful experience in sales. You'll find it's not always necessary but it makes it easier to secure a company's backing.

Find a company whose products you want to sell. You need to have a sponsoring company to sit for the examination. The company will have to fill out U-4 forms and file them with FINRA, the Financial Industry Regulatory Authority, so you can take the examination. The company often submits the paperwork at the same time for the series 63, Blue Sky Laws, examination if the state requires it, since they just need to duplicate the paperwork.

Fill out your paperwork online. You'll need to complete a form that allows FINRA to do a background check. You also have to let them know of your history, including places you've lived and the work you've done.

Take your fingerprint card to the local police to complete. Before you take any exam, you also have to submit a fingerprint card. It's not only part of the background check, it also is a way to track you if you suddenly go bad and confiscate funds from your clients.

Sign up for a class to prepare you for the series 6 examination. Many people take the series 6 and series 63 close to the same time. Often, they only take one preparation class, then the exam and follow it by the other class and examination.

Sit for the examination at one of the national examination centers. All tests are now on computer, which allows you to see your results immediately. The computer transmits all results to the NASD. If you have to take a series 63 for your state's requirements, complete it also.

Learn all you can about the products you'll sell. You are now a fiduciary for other people's funds and need to have as much knowledge as possible. They trust you to help them make the best decisions, so you owe it to your clients to live up to that trust.


If you take a series 7 SEC test and test for an insurance license, you can sell any product on the market.

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