What is in the guide?

Two pages, one for a record where the termination is the only mark and one for a record with more than one disclosure. Each covers what every hiring firm reads first, the part of your book that can actually move, where the doors are by channel, and why waiting has a cost.

Can I still be hired after a termination?

A single termination, honestly explained, narrows the list of firms without closing it, and hiring firms read U5 language closely enough to tell an administrative matter from a sales-practice one. A record with more than one disclosure means a shorter list, and every firm on it reads closely.

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What Are Your Options After a Termination?

A two-page guide for advisors whose termination is now on the record: what every hiring firm reads first, the part of your book that can actually move, and why the next step should come quickly. One page for a single mark on the record, one for more than one disclosure.

What's inside

A termination narrows the market without closing it. Three things decide where you can land: the record every firm will read, the part of your book that can actually move, and how quickly the next step is taken. This guide sets out each one on a single page, with a second page for a record that carries more than one disclosure.

What every hiring firm reads first: your Form U5 and the firm's written explanation
The book that can actually move, line by line
Where the doors are, by channel
Why waiting has a cost, including FINRA's two-year exam rule

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What every hiring firm reads first

Your former firm files a Form U5 within 30 days and gives you a copy at the same time. Every FINRA member firm that registers you must review the most recent U5, amendments included, under FINRA Rule 3110(e), and BrokerCheck publishes the disclosure answers. The U5 and your own plain account of what happened are where any conversation about your next firm starts.

Why the next step should come quickly

Your former firm reassigns the relationships you served, and their new advisor starts calling them. Once two years pass without registration, FINRA requires the qualification exams to be taken again under Rule 1210, unless you enroll in FINRA's Maintaining Qualifications Program within those two years. The guide is general information about a regulatory process, not legal advice; engage securities employment counsel before signing anything.

Common questions

What is in the guide?+
Two pages, one for a record where the termination is the only mark and one for a record with more than one disclosure. Each covers what every hiring firm reads first, the part of your book that can actually move, where the doors are by channel, and why waiting has a cost.
Can I still be hired after a termination?+
A single termination, honestly explained, narrows the list of firms without closing it, and hiring firms read U5 language closely enough to tell an administrative matter from a sales-practice one. A record with more than one disclosure means a shorter list, and every firm on it reads closely.
How long do I have before I must retake my exams?+
FINRA requires the qualification exams to be taken again once two years pass without registration, under Rule 1210, unless you enroll in FINRA's Maintaining Qualifications Program within those two years. The practical clock is shorter, because your former firm reassigns your clients and their new advisor starts calling them.