Series 7 and Back Office

I just moved into investment management from financial planning. However, my back office job would not let me keep the 7. Is this customary?

that’s how it is where I work.

They’ll only keep your 7 if they are a broker/dealer. Many buyside shops are not broker/dealers, which makes keeping your licenses up an impossibility.

Well, you can keep it, but they just won’t sponsor it (same effect).

As a follow up to Grover, it is a FI shop which is part of a larger bank. I presume our traders and sales guys carry the 7. Is that not the case? Do most buyside firms have traders/sales with the without the 7? BTW, I just started… so, I’m learning the basics here.

Like ws said, I had to give up my 7 as well. Well, there is a difference between terminating it and having it non-sponsored by your new firm. If they do not sponsor it you can have it hanging in limbo for 2 years til it falls off and is gone forever. If they require you to terminate it, then you will be 7-less and get a U5 that reflects that. I dont think it has anything to do with BO/MO/FO as I am client facing and do not have it anymore, and it sounds like you are BO and will not have it, it is more of a firm thing and job role specific thing. Bottom line is it is the Series 7 and if you ever need it again you can study Muni bonds and Options for a weekend and go get it, whoopdy-doo.

Thanks everyone.