Failed the 66... Now what?

3 replies [Last post]
eyeh8options's picture
Offline
Joined: 2014-02-18

Back in Jan. I accepted a position as a private banker w/ one of the big banks (WF), they gave me 120 days to get my 7 and 66.  I failed the 7 on my first attempt, passed it on the second attempt.  They gave me 15 days to study for the 66 and I missed passing it by a few questions.  My training coordinator dropped the ball on this because I should have had a full week extra to study since my 120 day window didn't expire until the last week of May. I overheard my FA complain to my manager about this earlier that this was not fair to me, I digress...
The situation now is that I had to apply for a licensed PB role and they will allow me to take the 66 again in 30 days however I have to pick my own testing material to study from and this will be strictly on my own time.  They cannot guarantee that they will rehire me at the private banker role but I can apply for it once I pass the 66.  I am taking a big paycut as well w/ the demotion and this is a tough pill to swallow considering the DC area is a very expensive place to live in.  I feel like I'm taking two gian steps backwards now that I failed the exam losing my corp. title, and basically having to focus my days hunting for checking accts and 529's so I'm not very pleased but atleast they claim I can take the 66 again but can't guarantee anything other than this PB job to me. So...
 
1) Is it possible that another bank will hire me on w/ my 7, 6, 63, and life and very good sales background with mass affluent clients and sponsor me for the 66?
 
2) If you were in my shoes would you take what WF is offering and pass the 66 and then look to see whatelse may be out there if I don't get that original position back?
 
3) Which training company should I use for the 66? WF uses pass perfect and while I don't mind their material there were major discrepencies between what was on the actual exam versus what PP's questions focused on.  I did very well on the rules / regs portion but fell on the analytical portion which was not emphasized on PP's material.

jajafosheeshee's picture
Offline
Joined: 2013-02-11

I am sure if you show them that you do have the background and other things to be a huge benefit for them someone will sponsor you. I also think there is one way that you can take it without being sponsored, some way with FINRA or something. Let me give you a course that will without a doubt help you pass the test with flying colors. Training Consultants. I failed the 66 with a 70, I studied with Kaplan and was mentally done with Kaplan. I studied with TC for about a month and a half and I scored a 86. If you message me I can give you my study habits with TC, that will guarantee that you pass.

eyeh8options's picture
Offline
Joined: 2014-02-18

Believe it or not, I'm getting a lot of phone calls and having conversations with recruiters / head hunters and nobody has had an issue with me not having the 66 *finger crossed* I might be able to pick and choose among options which is a great thing.

I am looking into TC since I see all of the ranting and raving going on here about how awesome TC is but I don't want to quite jump the gun since I have no idea what the future holds but I'm pretty confident that I'll pass it on my second attempt and be done with the madness.

jajafosheeshee's picture
Offline
Joined: 2013-02-11

Well I was very leery of jumping the gun on TC, but the actual exam was cake compared to the studying. If I would have taken my time I probably would have gotten a 90+. If you follow their study guide and do everything that they tell you to do, plus some personal study time memorizing topics etc. Taking the test will be easy. I knew way too much going into the exam. TC is the best Series 66 study guides out there. I actually got a 90% on the laws and regulations part of the exam. I couldn't have done that without TC. Oh, and I am a terrible test taker, and I don't study well.

Please or Register to post comments.

Industry Newsletters
Careers Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×