So I have an internship set up for summer with a financial services firm, going to get licensed for insurance first. However, they can sponsor me to take the series 7 as an intern, after the internship I’ll be going into my senior year and I want to end up in the investment world. So would it put me in a better situation to find a better job if I take the series 7 test while in this internship?
Double check how long your Series 7 is good for once you leave the internship. The licenses must be sponsored by a company to stay valid (I don’t remember all the details regarding length). You just wouldn’t want it to expire or become invalid after putting in the work. Otherwise, I don’t see any reason not to do so.
Series 7 does require sponsorship and it expires after a while (I think it is one year). There is work involved in passing the test, so find out how long it is good for. I don’t think your future employer would care that much if you have series 7 or not. All IBs would give you time to take the exam if it is required for work.
I don’t think having the series 7 is going to put you in a better situation to find a better job. I do think you need to consider whether it is worth it to have the series 7. Being a registered rep subjects you to oversight by the regulatory organizations. Make sure that you are associating yourself with a highly reputable firm as you don’t want to find yourself being dragged into anything. As with any license, comes responsibility so make sure you are fully aware of the responsibilities that come along with getting your series 7. You don’t want to get dragged into an arbitration or an SEC investigation. An internship should be about learning about the industry. You should decide after the internship if you want to take your series 7 exam.
The company is northwestern Mutual doing research there a big company and have a good rep. Now what do you mean by all the regulatory aspects? In order to get into the the business of dealing with investments and securities wouldn’t I need to get this license? Long term goals would be to eventually break into my own practice.
You want to be a retail broker?
If I were you, I’d study for my CFA. You could always add a Series 7 later.
Wouldn’t necessarily say a retail broker but anthing to fall under dealing with investments, haven’t looked into specific professions but know I’ll most like need the series 7 sooner or later. I am interested in looking into the mutual fund industry then branch out from there.
If you work on the buy side in the mutual fund industry, you don’t need a Series 7. Not all investment jobs need it.
If you have the opportunity to sit for the series 7 exam via a sponsor, I would do so. Having a series 7 certification may not mean much to employers but it certainly won’t hurt. The CFA exam trumps any other certification in the investment industry. Some would even go as far to say the being a Charterholder is more valuable than an MBA from Kellog or Harvard (that’s a discussion for another day).