Industry Insights

Industry Insights: Licenses Needed for Each Type of Business Model

“Industry Insights” covers trends and topics within the financial planning industry.


We continue our look at some of the fundamental aspects of the financial services industry. Last week, New Planner Recruiting hosted an informational webinar covering tips for getting hired as a new planner. One of the slides did a good job summarizing the industry’s business models while including some of the big-name firms within some of the models. In addition, the slide addresses a frequent source of confusion for many new to the industry – which licenses are needed for each model:

While certain licenses may be better-known to industry newcomers, they may simply not be needed depending on the firm’s model. The Series 7, for instance, is required for wirehouses and brokerage firms, but isn’t necessary for RIAs, insurance companies, and banks/credit unions.


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