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Series 7 LicenseFinance industry recruiters are often asked, from advisors considering a move to an RIA, what happens to their Series 7 license if they join an RIA firm, which requires an active Series 66 or Series 65. Can they “hold” and maintain the Series 7 in case they wish to return to the broker-dealer firm in the future?

“FINRA frowns on a rep parking his license with a broker-dealer without actively working as a registered representative. A Series 7 registered representative of a broker-dealer has two years from the date he is no longer associated with a broker-dealer to get re-registered with such a firm before his Series 7 license lapses. After that two-year period, if he wants to become associated with a broker-dealer again, he’d have to re-take his series 7 exam.”*

* Read more at OnWallStreet.