The Financial Industry Regulatory Authority (FINRA) reportedly has modified its current licensing requirements to better align with common career and family timelines that advisors experience.
The Maintaining Qualifications Program was instituted due to the advocacy of three women FINRA board governors. According to FINRA, before the program, the typical career and family timeline intersection forced many women to leave the industry.
The new rule implements a five-year grace period that allows registered reps to maintain their credentials through continuing education (CE). The grace period is available to registered reps even if they are not actively employed in the industry. According to FINRA, the former two-year period failed to accommodate time to establish families.
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
