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Who needs a Series 65 license?

Author

Emily Carr

Published Mar 06, 2026

Who needs a Series 65 license?

Series 65. The Series 65 license is required by anyone intending to provide any kind of financial advice or service on a non-commission basis.

Then, what is a Series 65 license required for?

The Series 65 license, known as the Uniform Investment Adviser Law Examination, qualifies individuals to provide investing and general financial advice to clients. Passing the Series 65 exam qualifies individuals as Investment Advisor Representatives (IARs).

Beside above, wHO issues a Series 65 license? the Financial Industry Regulatory Authority (FINRA)

Correspondingly, what can you sell with a Series 65 license?

Series 65. The Series 65 license, also known as the Uniform Investment Adviser Law Examination, is best for financial planners, advisors or others that provide financial advice. Stockbrokers or those who handle managed-money accounts would also need this license.

What is a Series 66 license used for?

The Series 66 is an exam and license that is meant to qualify individuals as investment advisor representatives or securities agents. The Series 66, also known as the Uniform Combined State Law Examination, covers topics relevant to providing investment advice and effecting securities transactions for clients.

Does a Series 65 expire?

After 120 days from its opening, your Series 65 exam window will expire.

Is the Series 65 exam difficult?

But the bottom line is that the Series 65 exam isn't really much harder than other common industry licensing exams, like the Series 6 or the state Life and Health license. Most will take 2-4 weeks to study, spending about 20-30 hours, and pass the exam with its required 72% passing grade.

How much does Series 65 cost?

What do the exams cost? The exam fees are: $147 for the Series 63; $187 for the Series 65; and $177 for the Series 66.

How do you get a Series 65?

You can apply for the Series 65 exam via FINRA's website. When your application is approved, you'll receive notice from FINRA with your 120-window to schedule and take the exam. The exam costs $175. The applicant or their firm can pay the fee.

Is the series 66 or 65 Harder?

Is It Harder to Pass the Series 65 or Series 66 Exams? While the pass/fail rate for these exams is not publicly available, many consider the Series 66 exam more difficult than the Series 65 because it is longer. The Series 65 contains 130 questions and the Series 66 has only 100.

Do you need Site for Series 65?

Eligibility. You do not need to be employed by or sponsored by a FINRA member firm in order to register and take the series 65 exam. Both can be done electronically on FINRA's website. This exam is one of the more basic exams and does not require any other prerequisites to be eligible.

Who needs Series 63?

Who needs a Series 63 license? Securities industry professionals seeking to transact securities business (make an offer or sell securities) with residents in most states as a broker-dealer agent are required to pass the Uniform Securities Agent State Law Exam, more commonly known as the Series 63 exam.

What license is needed to sell stocks?

Administered by FINRA and known as the general securities representative license, the Series 7 license authorizes you to sell virtually any type of individual security, such as preferred stocks, options, bonds, and other individual fixed income investments—plus all forms of packaged products.

Is Series 66 harder than Series 7?

While the hardest questions from the Series 66 overlaps with the Series 63's hardest questions, the Series 66 contains even more content that makes it a challenge. There is a lot of content that overlaps with the Series 7, for instance. These topics, and more, lead to a fairly challenging exam.

What does a Series 63 allow you to do?

The Series 63 license, also known as the Uniform Securities Agent license, enables you to sell securities in a particular state. The Series 63 license is good for the entire period that you work for a FINRA-member firm or self-regulatory organization (SRO).

What does a Series 7 allow you to do?

Permitted Activities

A candidate who passes the Series 7 exam is qualified for the solicitation, purchase and/or sale of all securities products, including corporate securities, municipal fund securities, options, direct participation programs, investment company products and variable contracts.

What are the requirements for a Series 7 license?

How to Get Your Series 7 License
  • Step 1: Take and Pass the SIE Exam. The SIE exam tests common topics such as fundamentals, regulatory agencies and their functions, product knowledge, and acceptable and unacceptable practices.
  • Step 2: Secure a Sponsorship.
  • Step 3: Study for the Series 7 Exam.
  • Step 4: Pass the Series 7 Exam.

Can Series 65 sell mutual funds?

Having a Series 65 license allows an adviser to offer fee-based investment advice, but, by itself, does not permit the sale of securities.

How much money can I make with a Series 7 license?

General Securities Representative - (FINRA Series 7) Jobs by Salary
Job TitleRangeAverage
Registered Client AssociateRange:$43k - $69kAverage:$52,846
Financial PlannerRange:$44k - $100kAverage:$63,019
Certified Financial Planner (CFP)Range:$50k - $126kAverage:$71,332
Compliance OfficerRange:$52k - $103kAverage:$73,809

What is the passing score for Series 65?

94

Is a Series 65 a fiduciary?

A Registered Investment Advisor (RIA) or Investment Advisor Representative (IAR) who holds a Series 65 securities license, subject to the Investment Advisers Act of 1940, is a fiduciary. Under the fiduciary trust standard, a Registered Investment Advisor must provide its “best advice†to a client.

Does Series 65 make you an accredited investor?

The SEC's new definition means that anyone holding basic stockbroker certifications—specifically, Series 7, Series 65, and Series 82 licenses—is considered an accredited investor, as are “knowledgeable employees†of certain funds, among others.

What is the difference between Series 7 and Series 63?

The Series 7 and Series 63 licenses are the basic broker licenses, although the Series 63 license is state-specific. The person you may work with for investing purposes may not prove to be a broker per se, but is a registered representative employed by a licensed broker or dealer.

What is the Series 63 pass rate?

98.36%

How long does it take to study for Series 66?

The Series 66 experts at Knopman Marks Financial Training recommend that you plan on 75-100 hours of prep time before your test. You should assume you'll need about 4-8 weeks of prep time if you're working full time.

What is the difference between a Series 6 and Series 7 license?

The Series 6 license allows a registered representative to sell only a specific type of investment products, whereas the Series 7 license allows the rep to sell a wider variety of securities.

Can an RIA hold a Series 7?

In some ways, the Series 7 credential is incompatible with the fiduciary relationship required of RIAs. An RIA is bound by law to put the client's needs first. The Series 7, however, authorizes the holder to work on behalf of a broker-dealer, not necessarily on behalf of the client.

Who needs a Series 6 license?

Jobs utilizing the Series 6 license include financial advisors, retirement plan specialists, investment advisors, and private bankers. In order to obtain the Series 6 license, candidates must pass the Investment Company/Variable Contracts Products Limited Representative (Series 6) exam.

Is the series 66 hard to pass?

Taking is the Series 66 exam is stressful, even if you are a good test taker. Each candidate will have two and one half hours to complete the exam. A score of 75% or higher is required to pass.

Is a series 66 a fiduciary?

In the financial industry, an Investment Advisor who is a Fiduciary has either a series 65 or 66 license. You can check a financial advisor on FINRA BROKER CHECK or the SEC website.

What can I sell with a Series 66?

It allows its holders to sell "packaged" investment products such as mutual funds, variable annuities, and unit investment trusts (UITs). 1 The Series 6 exam is 135 minutes long and covers basic information regarding packaged investments, securities regulations, and ethics.

How many times can I take the Series 66?

The same rule applies to someone who has failed a second time and who wishes to take it a third time. After a third failure, a candidate must wait at least 180 days before taking the exam again. This same rule applies to all subsequent failed attempts. Series 66 can be taken either before or after Series 7.

What can I do with a Series 7 and 66 license?

The Series 7 license, along with the Series 66, grants individuals the right to buy and sell securities on behalf of others. Once you have earned your Series 7 license, salary and career options are numerous, so be strategic and use this valuable asset to your advantage.

Does a CFP need a Series 7?

A CFP® who holds and maintains a Series 7 license is different than someone who doesn't. One obtains the Series 7 by passing a General Securities Representative Exam, which allows the individual to sell general investment products and securities on behalf of the financial firm they work for.

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