CeriFi buys FINRA exam training provider Pass Perfect

Pass Perfect, a provider of the Financial Industry Regulatory Authority license exam training for the financial services industry, has been purchased by CeriFi.

Founded in 1988, Pass Perfect partners with leading financial institutions to ensure employees are effectively trained for and in compliance with FINRA licensure, rules and regulations.

The deal represents the fourth acquisition for CeriFi, which is backed by Leeds Equity Partners, and provides financial education, training and certification solutions to the financial services industry.

Eric Geveda, principal of Leeds Equity Partners, said, “Pass Perfect broadens CeriFi’s training and certification solutions, thereby enhancing its position as the best in class provider of lifelong learning for financial services professionals. We intend to continue to expand CeriFi’s product offering to more holistically address the needs of financial institutions through organic and acquisition initiatives.”

CeriFi, formed in 2017, is a diversified education, training and certification provider serving professionals across the financial services market. To-date, CeriFi has made four acquisitions, including Dalton Education, Money Education, Keir Financial Education and Pass Perfect.

Ed Fleur, president of Pass Perfect, added: “I am very excited to partner with Leeds Equity and join CeriFi. Our goal has always been to provide the best quality content and learning outcomes in the industry. Leeds Equity and CeriFi offer us the financial and strategic support to continue to innovate and grow in an evolving market.”

Its solutions help with a number of exams including The Registered Representative, manager/principal, the SIE and state licensing.

The Registered Representative licensing exams allow an individual to recommend, sell, or trade the securities covered by that test, while the Uniform State Law requires that individuals who sell securities or advisory services to the public be licensed in that State. The manager/principal exams allow an individual to supervise persons who recommend, sell, or trade securities; or to supervise back office and accounting functions.

The Securities Industry Essentials (SIE or Essentials) Exam, scheduled for availability beginning Oct. 1, 2018, is a new FINRA exam for prospective securities industry professionals. This introductory-level exam assesses a candidate’s knowledge of basic securities industry information including concepts fundamental to working in the industry, such as types of products and their risks; the structure of the securities industry markets, regulatory agencies and their functions; and prohibited practices.

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