Q&A

Do I need a Series 7 if I have a Series 65?

Do I need a Series 7 if I have a Series 65?

Those who wish to be IARs must pass the Series 66 and the Series 7. 1 The Series 66 is equivalent to taking both the Series 63 and Series 65. If an individual does not already have a Series 7 and wishes to be an IAR, the Series 65 is NASAA’s competency exam.

Does an investment advisor need a Series 7?

While there is not a specific licensing requirement for financial advisors, they are generally required to have various securities licenses to sell investment products. These include the Series 6, Series 7, Series 63 and Series 65 licenses.

Can I take series 65 without a sponsor?

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.

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What can you do with Series 65?

On its most basic level, a Series 65 allows a financial professional to give clients investment advice and analysis. It’s a fairly standard exam in the financial industry. Candidates who receive their Series 65 license are qualified as Investment Advisor Representatives (IAR) in certain states.

Does Series 65 expire?

You have 120 days to take your Series 65 exam. After 120 days from its opening, your Series 65 exam window will expire.

Do I need a Series 65 if I have a CFP?

As conferees may know, CFP certificants are exempt from the examination requirement for investment adviser representative registration, the Series 65.

What is the difference between Series 6 and Series 7?

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 I keep my Series 7 without a sponsor?

Yes, although the more natural progression is to take the SIE exam first, mainly because you don’t have to be sponsored to take it. The SIE and Series 7 top-off exams are “co-requisites,” which means you can take and pass them in any order. Of course, you have to pass both to earn your Series 7 license.

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Can I take the Series 6 without a sponsor?

You must be sponsored by a member of FINRA (formerly NASD) or a Self-Regulatory Organization. You will not be able to sit for the Series 6 exam without a sponsor. The Series 6 test includes a 50-question, multiple choice exam.