There are many reasons why the insurance and financial securities industry needs licensing, the primary one being to protect customers by preventing scams which seek to take advantage of vulnerable people. Owning a license shows that you follow financial guidelines and ethical standards set by FINRA (the Financial Industry Regulatory Authority), which will set any potential client’s mind at ease. There are a range of licenses available that cover different areas in insurance and financial security, and security license training is available for all of these.
The license you need will be determined by your area of expertise. Some may demand that your employer sponsors you, and once you fulfill that requirement you can begin the training to obtain the license. There are three ways to train; you can either qualify through using online courses, studying by yourself or learning in a classroom with others. If you have a great deal of self discipline you might like to try the self-study option, however if you need structure one of the other choices might be more suitable.
Occasionally companies may have several employees who need to obtain a securities license. In these cases custom training is available, but it must be processed in a classroom setting. However, this is very convenient and training centers are available to be used. The series of licenses have unique prerequisites so you must make sure that you are completing the correct set which is most relevant to your field of expertise. The information can be reviewed online and more details can be found on the official FINRA website. You should check this before you register for a course.
Once the license has been obtained the security agent will be authorized to do business in the appropriate sector. The regulations reassure the public that their money is safe in the hands of others, and the guidelines are quite clear on how agents and brokers should act. The public know that the law is there to protect them and their money.
If an employee is being sponsored by the company they work for it is important to bear in mind that there may be a commitment clause once you receive your license, so that the company can see some return on their investment. If the employee should break that agreement they may be have to compensate the company for the expense of the training. If you are planning to change employers you may want to keep this in mind.
The options to obtain your securities license training are abundant and flexible so you can make the right choice and move forward in your career. FINRA sets out the guidelines and more information about those can be found on their website. The license will provide you with authority and your clients will feel safe when dealing with you. Obtaining a license gives you a tangible result of your knowledge in your field and helps you build a lasting foundation of respect and trust with your peers and your clients.