Spire applauds FINRA’s MQP, allowing licensed professional to have 5 years, instead of two, before their licenses expire.  This is about the regulators looking for ways to modernize some of the more antiquated requirements.  Without losing the integrity of licensed advisors' education, the MQP is a means for FINRA to update its criteria to fit the current environment of financial advisory practices.

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"This new MQP program may offer some much-needed breathing room and perhaps even peace of mind for those that leave a FINRA regulated firm. At minimum, it can give people an emotional and business buffer so that the impending two-year deadline for registering with a BD does not resurrect the same cycle of stress initially felt when making the decision to disassociate with a BD. This also may discourage advisors from making poor choices out of desperation to keep their FINRA licenses, like attempting to illegally “park” them at a BD; or seeking out career paths based in part on the ability to meet the requirements needed to keep their licenses active."

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