Moving from BD to RIA
Currently I’m working as registered staff with a BD. They sponsored me to get my SIE, 7, 66 and state life and health in 2024. I’m in the market for a new job. I just completed 2nd round interview (1 more to go) for a company that is apparently only a RIA. After the interview, I got an email saying this:
“If you moved over and registered with (new company), your Series 7 and 66 would convert to an active Series 65. The Series 7 and 66 will deactivate after 2 years unless you either relicense with a BD firm before the 2 years is up, or enroll in the MQP through FinPro, which can extend the validity of your licenses for an additional 3 years (5 years total). You'd be eligible to enroll in the MQP the BD registration has been effective for at least one year. “
Does anyone have any experience with this? This job at the new company seems to be what I’m looking for with 30%+ pay increase, but I was not aware of this at all. I’m young, I’m 24, not saying I’ll need my licenses forever as my end goal is CFO. Obviously, ideally, I would want to be with the new company for more than 5 years. But if anyone has any advice or experience with this I’d greatly appreciate it!