What Licenses Do You Need to Be a Financial Advisor?


If you are thinking about becoming a financial advisor, here are some of the licenses that you will need to obtain to make that dream a reality.

In order to obtain your FINRA investment banking license, you will need to pass the Series 7 and Series 66 exams. The Series 7 exam is easier to obtain than in years prior.

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The SIE exam allows people to take the exam without a sponsor. The older Series 7 required you to be employed by a financial company and they would sponsor you but this created a catch 22.

Now that you have the Series 7, the next step is to obtain the Series 66 which does have a higher failure rate than the Series 7. It is shorter and slightly easier than the Series 7. Because of this, people may not spend as much time studying and end up failing. Make sure to be productive with studying for each exam.

Depending on the state or company you get hired by, make sure to look into the different licenses you may need. Each state will vary on the different licenses that are required. Depending on the company, you may also have different duties that will require different licenses.


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