Series 65 Tutor
The majority of people who work with a Series 65 Tutor want help with options. However, options represent a small part of the exam. Not many people request help with financial statements, which are at least as important as options. Sometimes, Series 65 test takers say that are comfortable with financial statements but when you ask them a question about a formula, the response almost always suggest that the person needs help. There are only a few formulas that one needs to know from the balance sheet. As a Series 65 Tutor, I often encourage people to memorize the balance sheet formulas. For the income statements, knowing the concepts should be enough to answer questions.
As a Series 65 Tutor, I work with people from a variety of backgrounds. The common goal for all of my series 65 tutoring students is to pass the Series 65 Exam in order to get paid fees for investment advice. Many of my series 65 tutoring students work in the insurance industry and are leaving a lot of money on the table by not taking and passing the Series 65 Exam. Some of them want to work with a Series 65 Tutor as a way to hold them accountable. Series 65 Tutors can help motivate students to study! If you want to work with a Series 65 Tutor who can help get you on the right track, send us a note.
Issues to consider when searching for a Series 65 Tutor:
2. If the tutor has taken the series 65 exam, what was he or her score? Some tutors will not tell you what they scored on the Series 65 exam or other exams
3. Check into the background of the Series 65 Tutor, both professionally and academically. If you can not verify their experience, you should be skeptical. Also, look for Series 65 Tutors who have completed the CFP program or who are CFA charterholders
3. Google them and investigate (if they give you enough information to look them up). The investment business has its share of people with less than admirable backgrounds
4. Avoid any Series 65 Tutor who implies you are guaranteed to pass an exam. This sounds very tempting but you should be very skeptical about anyone who uses language like this. Not everyone will pass an exam
5. Also, avoid any Series 65 Tutor who says he or she knows exactly what will be on the exam.
Passing the Series 65 Exam can be challenging for some people. Most people we work with who take the 65 exam have very little investment experience. Many of these test takers have insurance experience but not much exposure to investments. Compounding the challenge is people who take the Series 65 Exam are often not required to take any other investment exam such as the Series 7 Exam. It is not unusual for us to start working with people after they have been unsuccessful on multiple exams.
Most students know that there is a registration exemption for certain investment advisers and their reps. STATE investment advisers/reps with no office in a state and who have 5 or fewer clients in that state are generally exempt from registration in that state. This diminimus exemption does not apply to broker dealers. Although, some states have enacted diminimus exemptions for broker dealers. With that said, this exemption for broker dealers is NOT in the Uniform Securities ACT or related model rules. Broker dealers have to register in a state if they meet the definition of broker dealer, even if you they only deal with one client.