I have a termination on my U4, will other investment companies hire me?
May 9, 2010 by
Filed under investment companies
I was fresh out of college and I made some trading errors that resulted in the investment firm taking a less then $5K loss. I was then terminated and now I’m looking for another career. Will another investment firm hire me even though I made a mistake that shows up on my U4? I’m in the middle of getting my MBA and CFP, do you think that will help me get back into investment firms?
You can still “get back” into the business and get you license activated again. It’s my advice to get it done as soon as you can You only have 3 years to have the license activated.
It depends on what shows on your U5, as to why you were terminated, if if show just terminated, you may not need to puts this on your U4, if it shows “with cause” then you should list it.
When you go for your interview, provide the details and let the firm decide on what to do.
I have hired traders with losses much bigger than $500, I have hired sales reps with errors much greater than $500, but I never had this entered on a U4.
It’s the firm’s call as to how to handle it, they’re the ones that are holding your license and carry insurance on you, just be very honest and open with them.
Good luck, go for it. Just get working then you can continue with yor MBA andyor CFP.