Series 63: Acting As Both Principal And An Investment Adviser

Taken from our Series 63 Online Guide

Acting as Both Principal and an Investment Adviser

While broker-dealers regularly sell their customers securities that they themselves actually own (known as acting as a principal), it is far less common for an investment adviser to do the same thing. Since an investment adviser is not registered as a dealer, selling a customer securities out of the firm’s account requires special written consent from the customer by the date the transaction is complete.

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Just passed the S63 exam on the second try. The only reason I failed the first time is that I didn't take enough timed practice exams. My advice is to take practice exams until you are blue in the face. I did that this time around and aced the exam. I've now passed both S7 (first try) and S63 with Solomon. Worth every penny.

D. G. Swanagain, New York Life, New York, NY

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Ciarra DiPiazza, CB Financial Services, Tacoma, WA