Use a Decision Tree to Decide if You Should Become Series 65 Licensed

One of the reasons we built POM Wealth Management was to support insurance agents who recently passed the Series 65 exam. It was also built for Series 7 licensed advisors who want to move to the managed money world (the IAR/RIA world).

On the fence about getting a 65 license? Download EXAMPLES of pre-filled in decision trees by clicking on the following:

Insurance agent
Series 7 licensed advisor

To download a BLANK decision tree you can fill out, click on the following:

Insurance agent
Series 7 licensed advisor

Once you go through the decision tree exercise, a clear answer should be staring you in the face (get a license or not).

For those who decide to move forward to get their 65 license, email blair@pomplanning.net to set up a call about the best ways to study for the 65 exam and to get more information about the POM Wealth Management platform.

Why Advisors Should Consider Working with POM Wealth Management
By: Roccy DeFrancesco, JD

There are four types of advisors who should consider working with POM Wealth Management:

1) Newly licensed. If you are newly licensed, you will not be forming your own RIA and need one to be an IAR (Investment Advisor Representatives) under. This RIA was created with the newly licensed advisor in mind (and the insurance agent specifically in mind). It’s a turnkey platform where the model portfolios and 3rd party managers (mostly tactical) are overseen by Joe Maas as the CIO. I go back 20 years with Joe and he’s a rock star in the industry and we are lucky to have him overseeing the portfolios.

2) Currently an IAR under an RIA that is just OK or worse. There are many advisors who are IARs at RIAs that offer vanilla portfolios and average (or below average) 3rd party managers. An average offering makes it difficult to pick up new clients. POM Wealth Management was created to give advisors a real story to tell. The POM Intelligent Allocation Strategies are ideal for investors seeking to be both tactical and defensive in their allocation to multi-asset class investing.

3) RIAs looking for better 3rd party managers/portfolios. Most smaller RIAs who manage their clients’ money in-house are stressed about it and frankly don’t do that great of a job. RIAs who use 3rd party managers are using ones that I wouldn’t use (remember, as someone who started the OnPointe Investment Risk software, I’ve seen many of 3rd party money manager’s data and I’m rarely impressed). Also, I think many RIAs should consider hiring Joe Maas as their CIO. To do so would take $50,000 and he has limited capacity. RIAs who want access to portfolios Joe manages (some of the best 3rd party managers in the industry) can literally co-opt the same portfolios POM Wealth Management uses.

4) Series 7 licensed advisors looking to go “independent.” I know there is a lot of inertia to leave the B/D world, but for advisors who are tired of their B/D taking money out of their pocket for doing very little and for those who don’t want to have their hands tied by their B/D in the advice they can give, the only way out is to get a 65. POM Wealth Management has a turnkey platform Series 7 licensed advisors can step into so they can generate more revenue, have more independence (and better compliance), and provide better and more comprehensive services to clients.