What Does Registered Representative Mean?
A registered representative is a person who has the legal authority to sell various types of securities. In the context of insurance, registered representatives often sell life insurance products. Many of these products have investment components, so a registered representative can help policyholders to invest their money as well as receive life insurance coverage.
Insuranceopedia Explains Registered Representative
In order to become a registered representative, a person must first pass the Series 7 exam. This exam is centered around securities information and is quite extensive. The passing of this exam is necessary because people who sell securities could be risking large sums of clients' money. Therefore, they need to be able to prove that they know what they are doing. State insurance licenses are also often required for registered representatives who want to sell life insurance products.