A good question to add to infoe: **Is there any...
A good question to add to infoe: Is there any rational reason someone would ask if the job requires me to register with FINRA/ get a CRD#
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If you have to give financial investment advice, trade equities, deal with bonds, or of the sort, those will end up needing FINRA
They will almost always explicitly mention it in the job description or in the interview so you wouldn't need to ask....
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equal-aqua•9mo ago
If you have to give financial investment advice, trade equities, deal with bonds, or of the sort, those will end up needing FINRA
They will almost always explicitly mention it in the job description or in the interview so you wouldn't need to ask.
plain-purple•9mo ago
Example jobs:
- Equities or options trader
- Investment advisor
- Financial planner
- Financial advisor
- Broker (mutual funds or stocks)
- Support or Customer Representative role at a broker/trading company or investment advisory
A job description will almost always explicitly mention if it requires FINRA exams (and specifies which exam) or it will be mentioned in the interview, so you wouldn't need to ask if they require it.
Account Monitoring:
Brokerages and financial institutions will often need to monitor investment accounts to ensure compliance. There are exceptions; accounts that do not need to be monitored.
- 401ks and retirement accounts: typically excluded if they're held at an outside institution and not actively traded or advised on by the employee.
- Managed Accounts: Accounts managed by third parties where you have little to no influence over the day-to-day investment decisions are also exceptions
- 529 College Savings Plans: managed externally, investment choices are predefined
- Trust accounts: if you're not the trustee or don't have investment control over the trust assets
- Custodial accounts: accounts where you act as a custodian only on the behalf of another individual and don't control investment decisions
You can probably pick up on the pattern of what is exempt from monitoring.
Sometimes companies make judgement calls based on interpreting compliance policies but exceptions to the rule involve you not having control over the assets and/or the account being managed externally.