Burch & Co., Inc.
4151 N. Mulberry Drive
Suite 235
Kansas City, MO 64116


10 posts categorized "Getting Licensed"

October 27, 2011

Burch to Particpate in Upcoming Panel Discussion: Life after the Series 79

Burch & Company's Senior Compliance Officer, Amy Hughes, will be presenting as part of a panel discussion next month at the M&A Source's Fall Conference in Phoenix.  The panel, "Life after the Series 79 - Working with a Broker-Dealer,"  is scheduled for November 15th and is to be moderated by Dolliver H. Frederick, CBI, M&AMI, of Frederick Capital Corporation.  Other panel participants include Fred G. Jager, CBI, M&AMI of Hunter Wise Financial Group; Brian Marks, Partner, Knopman Financial Training; and George A. Petrulis, CBI, M&AMI, of Kensington Services, Inc. 

Burch is excited that Ms. Hughes will have the opportunity to discuss with conference attendees not only the licensing process for investment bankers looking to obtain the Series 79 in order to provide securities-related advisory services on M&A engagements, but also provide insight as to what you may expect once you become licensed.  Burch will also be an exhibitor during the conference, should you wish to stop by our table.  For full conference details and schedule, please head to M&A Source Website .  If you would like to contact Burch directly to discuss the investment banking securities licensing process and our firm's ongoing requirements and processes, please contact our President, Randy Burch, at 816.842.4660.

May 06, 2011

Interview with Burch's Chief Compliance Officer

During AM&AA's Chicago Conference, each exhibitor was afforded the opportunity to record a short interview to discuss their services. Click the link below to catch a glimpse of my somewhat clumsy attempt to share how Burch & Company assists middle-market intermediaries and bankers who may have opportunities to advise on deals involving securities. More information and videos of actual sessions from the conference may be found on AM&AA's website: www.amaaonline.com

November 05, 2010

Getting Securities Licensed with an Existing Broker/Dealer

Are you an experienced middle-market intermediary considering getting your securities license?  If so, there are currently two routes you may take: One is to form your own broker/dealer.  The second is to register under an existing broker/dealer.  Here, I will speak on the latter.  Burch & Company, Inc. is an broker/dealer whose membership agreement with FINRA allows us to provide financial advisory services for sell-side and buy-side mergers and acquisitions.  Thereby, we may register M&A professions as Independent Contractors under our existing broker/dealer platform.  Once these individuals become qualifed (meaning they pass all required exams), they may then be in compliance when assisting their clients in transactions that have any securities components - stock, debt, notes, etc.  To learn about this process, step by step, take a look at the attached white paper.  The document discusses not only the initial licensing process, but also ongoing regulatory requirements you should expect as a registered individual and estimated costs (any references to the Series 62 or Series 7 in the following linked document should be replaced with the Series 79, as the prior are no longer sufficient for Investment Banking Activities).  Please feel free to contact me with any questions. Download Securities Licensing White Paper

December 21, 2009

Prep for the Series 79 Exam

Securities Training Corp's Series 79 study material should be available by the end of December: www.stcusa.com

We've also received word that Solomon Exam Prep will be offering Series 79 live online training sessions starting Jan 2010 - see schedule below. Solomon expects to have their training manual available in FEB 2010.

January 4-8 from 6p-10p EST
Feb 01– Feb 05: 12p-4p EST
March 01 – March 05: 12p-4p EST

November 08, 2009

Series 79 - Limited Representative - Investment Banking is now effective

The Series 79 license became effective last week.  The license is required for individuals who wish to engage in the following activities:

Advise on or facilitate debt or equity offerings through a private placement or public offering or to advise or facilitate mergers or acquisitions, tender offers, financial restructurings, asset sales, divestitures or other corporate reorganizations or business combination transactions

I am not aware of any third-party study material that is available as of today, however, Securities Training Corp, www.stcusa.com has communicated that they will have written material available in DEC and then both classroom and online training to begin in JAN 2010.  FINRA's study outline is posted ( Series 79 Study Outline)  and the test does look to be...comprehensive, though also more relevant to the actual functions of Investment Bankers & M&A Group than were the Series 7 or 62. 

Remember: FINRA is allowing for individuals to opt in if they have or earn the Series 7 or Series 62 prior to May 2010.  Last week I "opted in"  the Series 79 license on behalf of most Individuals licensed with Burch who engage in Investment Banking Activities.  The approval of this license was immediate, therefore these individuals now hold the new Series 79 license and will not have to sit for the exam.

September 16, 2009

FINRA Creates New Examination Requirements for Investment Bankers

FINRA recently announced new registration and examination requirements for Investment Bankers and Principals who supervise them.  The Series 79 examination becomes effective/available on November 2, 2009.  Individuals who are engaged in the following activities shall be required to hold the Series 79 license:

  • Advise on or facilitate debt or equity offerings through a private placement or public offering
  • Advise or facilitate mergers or acquisitions, tender offers, financial restructuring, asset sales, divestitures or other corporate reorganizations or business combination transactions

Any individual who currently holds either the Series 7 or Series 62 licenses and who also are currently engaged in their broker/dealer's investment banking business may "opt in" for this new license by May 3, 2010.  Full details and FAQ are covered in FINRA's Regulatry Notcie 09-41: Download 09-41

March 11, 2009

Recording of Webinar Available: "Securities Licensing - Is it for Me?"

Burch & Company, Inc. recently particpated as a speaker in an educational webinar presented by M&A Source.  This webinar, "Securities Licensing - Is it for Me?" provided much valuable information for those individuals/groups contemplating getting securities licensed.  M&A Source has made a recording of this presentation available on their website, along with copies of each speaker's Powerpoint presentation.  If you would like to check it out, head to: Link to M&A Source Educational Webinar

Contact me directly at 816-842-4660 or jburch@burchco.com if you have any questions on Burch's portion of this presentation...Thanks!

September 29, 2008

Keynote Speaker at M&A Source to discuss Securities Compliance

If you are planning on attending the IBBA M&A Source Expo in Louisville (NOV 16-22nd), be sure and make it to the luncheon on November 19th.  Shane Hansen of Warner Norcross & Judd LLP will be the Keynote Speaker.  He will be discussing, among other things, compliance solutions such as affiliating with an existing Broker Dealer. Discussion starts at 12 noon.  See page one of the attached conference schedule for a broader overview of this topic: IBBA Conference Brochure  Here is a taste:

"What’s the difference between you and an investment banker? Your business card may not read “One Wall Street, New York, New York”  but, apart from the number of zeros in the deal price, and your take home pay, your M&A engagements and daily activities are regulated no differently under federal and state securities laws."

I will be in attendance for this luncheon and then representing Burch all day Thursday at the M&A Expo.  Please stop by our table to learn about our middle-market intermediary securities licensing platform. 

Thanks, Jessica

Excerpt above quoted from IBBA Fall Conference brochure.

July 25, 2008

MYTH: Obtaining your Securities License is a Pain

At the MBBI Winter Conference this past winter, I overheard a gentleman make the following statement: "Securties Licensing is a Pain!"  This misconception, I believe, is quite common among M&A Intermediaries and Business Brokers.  Obtaining most any license is not typically an enjoyable process.  To obtain one's driver license, you must parallel park.  For a Real Estate License, in most states, you must sit for hours and hours listening to an instructor discuss strange terms such as puffing and channeling.  What then would you have to face when obtaining your securities license as an M&A Intermediary?  The answer, surprisingly, is not much.  Let me break down for you the process of obtaining a securities license through Burch & Company, Inc.

1. After initial meeting with Burch and agreeing upon terms, Fill in a FINRA required Form U4 - a form that covers all your personal information, employment and residential history and a number of disclosure items, such as banktrupcy, criminal history or customer complaints

2. Fill in an M&A Questionnaire, which allows Burch & Company to conduct a FINRA required backgroud check

3. Sign an Independent Contractor Agreement with our Broker/Dealer, which details negotiated M&A Securities Deals commission splits/success fees.  We DO NOT PARTICIPATE IN YOUR ASSET TRANSACTIONS.

4. Pay minimal Initial Fee to cover registration costs - please call 816-842-4660 to discuss.

5. Submit Fingerprint Cards

6. Begin self-study: As an M&A Middle-Market Intermediary, you most likely will only need your Series 62 (Corporate Securities Representative) and your Series 63 (State Exam).  In the vast majority of cases, you DO NOT need your Series 07 (General Securities Representative).  This is highly unknown amongst the M&A Industry.  If you want the proper licensing to sell options, etc. you need a Series 07.  If you are only engaged in selling a Corporate Stocks, you do not.  These exams are limited securites exams - this means they do not contain the comprehensive level of material that you would need to learn with the Series 07.   Give yourself evenings of two weeks to one month to prepare for these exams.  WE HAVE HAD INTERMEDIARIES STUDY OVER A WEEKEND AND BECOME QUALIFIED, AS THEY NEEDED THEIR LICENSES YESTERDAY! IF YOU NEED TO BECOME QUALIFIED QUICKLY, IT IS COMPLETLEY ACHIEVABLE.  This really depends on the time you have to focus on studying, your habits and...your test-taking abilities.  The exams are multiple choice.  Study material, available online, comes with practice exams - the most valuable piece of the puzzle. 70% is passing.  Shoot for 90% on the practice tests.

7. Take your exams: Again, 70% is passing

After you have completed the above steps: you are a qualified registered reprentative, securities-licensed M&A Professional, and can comply with state and federal securities laws when you encouter the opportunity to earn sucess fees in an M&A deal that involves stock or debt.

FACT: Obtaining your Securities License through Burch & Company is NOT a Pain.

June 03, 2008

Securities Licensing Platform for M&A Intermediaries

Burch & Company has created a handout for the M&A Source Expo in order to detail and illustrate the securities licensing process for M&A Intermediaries and to discuss our broker/dealer platform.  Check out how simple it can be to protect your practice.  Click on the thumbnail below to see the actual process, step by step; OR click on the link to see our complete handout. Download Burch_overview.pdf