GETTING YOUR AGENTS LICENSED TO SELL
VARIABLE PRODUCTS AND MUTUAL FUNDS

• How to Get securities registered With SM&R and/or Transfer a securities registration
  
  
• Variable Licensing
  
  
• SM&R Bonus Program For Licensing Fees
  
  
• Licensing fees
  
  
• How to order study material
  
  
• Manager Letter Of Recommendation

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How To Get Licenced With SM&R and/or Transfer A License:

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Step 1:          

Call Yvette McIntosh, Multiple Line Marketing, at American National Insurance and she will send you a licensing kit which includesinformation on how to get licensed, fees, forms and how to order study material.  Yvette can be reached at 1-800/899-6508 option 2. 

 

Or, print and fill out the Manager Letter of Reccomendation and mail it to Yvette for her to send you a licensing kit.

                       
Securities license you will need to sell mutual funds:

Series 6         Investment Company/Variable Contracts Representative.  Required for all individuals.  Allows you to sell mutual funds and variable products (see the "Licensing Requirements for Variable Products" information sheet located in this kit for the additional insurance requirements).  Exam includes 100 multiple choice questions and preparation time averages 36 to 48 hours.

Series 63       Uniform State Law exam.  A state securities exam is  required in most states (this is a uniform exam for ALL states that require an exam).  Exam includes 50 multiple choice questions and preparation time averages 10 to 15 hours.  To verify whether your state requires this exam, see the state chart on page 5.  As shown by the footnote, those states with an asterisk do not require Series 63.

Once Yvette receives the completed applications back, she will compile a credit report and check forms for completeness and accuracy.  The process will be delayed significantly if forms are incomplete.  She will then forward the completed applications to SM&R.

           When licensing forms and licensing fees are received by SM&R, they are forwarded to Heather Delgado in Licensing, who reviews the application and forwards to the FINRA for processing.  See below for the usual amount

New Representatives:

From the time SM&R receives the properly completed forms it will normally take 4 -5 weeks for the rep to be notified by SM&R that they may sit for their exams.  At this time, reps will be provided a brochure on how to set test dates and where the nearest test centers are.  Once the exams are passed, it will take another 2 -3 weeks for FINRA notification to SM&R, and   for SM&R contracts to be sent to the Manager/Regional Director for signatures.  The manager signs and forwards the contracts (and the Regulatory Manual) to the rep for signature.  Upon receipt of returned contract to SM&R, Marketing will send supplies and the Training Modules.

                        Transfer Representatives:

From the time SM&R receives the properly completed forms, it takes about 3-4 weeks for approval of the transfer, and another 1 to 2 weeks for contracts to be sent and returned to SM&R. The rep’s Regulatory Manual will be sent with the SM&R contracts. Once SM&R receive the signed contracts, the rep is officially registered and Marketing will send supplies and the Training Modules. If a rep has NOT yet terminated with the former broker dealer and has pending business, a much quicker Temporary Agent Transfer (TAT) can be done.  Ţ Call for details.

Required Completion of 6 Written Training Modules.

All representatives are required to complete a series of six written training modules, each taking less than an hour to complete. The Training Modules Include: 1) SM&R Overview (staff, services, and commissions); 2) Regulatory Manual, 3) Variable Products; 4) Mutual Funds; 5) Marketing Strategies and 6) Retirement Plans.  Transfer reps may omit portions of the training.  Although Reps may sell as soon as they are officially registered with SM&R (once signed contracts are received), the training must be completed within 6 months of being sent to the rep.  This training fulfills the new rep’s initial continuing education requirement.

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Variable Licensing:

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• You are not automatically licensed to sell variable products,
  
  
• Reps have to initiate getting appointed with ANICO, and 
  
        
• Some states require additional tests!
  
  
• Once you have passed your securities test and received contracts from SM&R, call ANICO Contracts and Licensing at 800-899-6508, press 5, and ask what you will need to get appointed to sell Variable products in your state.

SM&R Bonus Program For Licensing Fees:

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SM&R does not pay agent licensing fees "up front" - but we do have a reimbursement program which gives you an opportunity to earn back your "up front" money. Licensing fees (including transfer fees) range from $154.50 to $524.50 (depending on the state fees). Study materials range from $25.00 up to $150.00.

The rules are simple - just sell the American National Family of Mutual Funds! If a rep or a member of his/her family open a personal account, the rep not only purchases without paying a sales charge (Net Asset Value or NAV), he/she also gets credit toward the bonus.

This is how SM&R will help new reps to earn a bonus...

Upon becoming licensed, if you submit:

1. six applications within your first 60 days
   SM&R will pay a bonus of............$75.00
   
   
2. total sales of $5,000 within your first 90 days

   SM&R will pay a bonus of............$75.00
   
   
3. total sales of $10,000 within your first 120 days
   SM&R will pay a bonus of............$75.00

Reps can qualify for one, two, or all three bonuses. To receive a bonus, submit copies of your applications and checks to the SM&R Marketing Department.  Or, just send a copy of the clients’ first confirmation statement.

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Licensing Fees:

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		New Rep	Transfer Rep
•	FINRA Registration	$85.00	$85.00
•	Fingerprint Processing	$32.00	$32.00
•	SM&R Processing Fee	$55.00	$55.00
•	State Fees (see below)**
•	Exam Fees:
	• Series 6	$60.00	N/A
	• Series 63	$65.00
	TOTAL:	$	$

Make your check payable to: SM&R, Inc.
(Does not include study materials)

**STATE FEES				* NO SERIES 63 REQUIRED
STATE	ORIGINAL FEE	TRANSFER FEE	STATE	ORIGINAL FEE	TRANSFER FEE	STATE	ORIGINAL FEE	TRANSFER FEE
AK	75	75	* LA	60	60	* OH	50	50
AL	50	50	MA	50	50	OK	50	50
AR	75	75	* MD	35	35	OR	15	15
AZ	40	40	* ME	40	40	PA	80	80
CA	25	25	MI	30	10	* PR	150	150
* CO	10	10	MN	50	25	SC	100	100
DE	30	30	MO	50	50	SD	125	125
* FL	40	40	MS	50	50	TN	50	50
GA	50	50	MT	50	50	TX	235	235
HI	70	50	NC	55	55	UT	30	30
IA	30	30	ND	50	50	VA	30	30
ID	20	20	NE	40	40	* VT	45	45
IL	75	75	NH	130	130	WA	40	25
IN	25	25	* NJ	30	30	WI	30	30
KS	50	50	NM	35	35	WV	80	80
KY	50	50	NV	55	55	WY	35	35

 

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How to Order Study Material:

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Call Dearborn to order a textbook and a question and answer workbook at:  1-800-824-8742

Call Examco to order software for reading, quiz and mock testing at:  1-800-955-7055*

Be sure and tell them that you are with Securities Management and Research to get a discount!

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Manager's Letter Of Recommendation

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Securities Management and Research, Inc. (“SM&R”)

 

TO: Yvette McIntosh  (FAX: 409/766-6502)

 

FROM:__________________________ PHONE NO.: ___________________

 

Mail Licensing Kit to: (Check One)  ________ Agent  - or - _______ Area Manager

 

(PLEASE TYPE OR PRINT INFORMATION LEGIBLY)

Agent’s Name: ________________________________________________

Street Address: _______________________________________________

City: _____________________________ State: ______ Zip: ___________

Phone: ___________________________ Fax: ______________________

 

Check One: New Agent _____         Transfer Agent* ______

*If transfer,   Total securities commissions last year? $_____________

Any business to transfer?
_______________________________

Date contracted with American National (ANICO)?
_____________________

Life Insurance commissions with ANICO last year?
$___________________

How far is agent from your office?
_____________________________________

How often annually will you do an on-sight review of his/her operation? _____________________________________________________

What are your production objectives for this representative?
$_____________

Does agent understand he/she must complete the SM&R Training Modules in his first six- (6) months for Continuing Education credit? (Check one) Yes ______ No _______

CERTIFICATION:  I certify by my signature below, that I have investigated the good character, business reputation, qualifications, experience, and the financial background of this individual.  I know of no adverse information unless indicated by an attached letter.  I will ensure that this rep understands that he/she my not solicit any securities related business until SM&R has a signed contract on file.  I assume responsibility for the supervision on this individual.

 

This individual’s contract with SM&R is to be (check one):

Registered Rep ______
Unit Manager  ______
Area Manager  _______(RD’s may check)

List any person to be Unit Manager over this rep, or existing reps to be assigned to this Unit Manager when contracted, if applicable:
___________________________________________________

 

Signature of Designated Supervisor:

______________________________ Date: __________

Area Manager (ANICO MLGA or RGA) or Regional Director

 

PLEASE MAIL THIS COMPLETED FORM TO: 

YVETTE McINTOSH, ANICO – 15^th FLOOR, ONE MOODY PLAZA,

GALVESTON TX 77550 (OR YOU MAY FAX IT TO THE NUMBER INDICATED ABOVE).