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Giving investment advice at work without a license

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cads91

Junior Member
Hello,

I work at a large mutual fund company's call center. I take inbound calls from financial advisors, who request information and education on our mutual funds and retirement accounts.

Sometimes a financial advisor will ask for recommendations picking mutual funds for a new clients portfolio and my employer requires me to assist them. I hold no securities licenses. My employer has instructed me ask them about their client and their investment objectives. I am supposed to make statements like, "based on your clients objectives that you have given me, you may want to consider this fund or that fund for this reason". Sometimes the conversation can unavoidably get even more in depth and it makes me uncomfortable knowing that the person I am speaking with is perceiving this as advice and I am not licensed. I have spoken with a few people in supervisory roles and they states that what I am doing is ok. But is it?

Any guidance would be greatly appreciated. Thanks!
 


adjusterjack

Senior Member
The ONLY place you will get the right answer to that question is at the Securities and Exchange Commission:

https://www.sec.gov/

Make the call.

If what you are doing is prohibited without a license get the statute number and print it out for your boss because his whole company can go down the tubes if he's encouraging his employees to do that.

Of course, you know he'll never admit it and you'll be the one hung out to dry when something goes wrong.

Better have your documentation in hand if you are going to refuse to do what your boss tells you.
 

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