What qualifications are required to be a financial advisor?
Brokerage firms require that all new financial advisor applicants have at least a bachelor’s degree from an accredited educational institution. The major can vary, but most are in finance, marketing or business.
How much does the Series 63 exam cost?
North American Securities Administrators Association (NASAA) Exams
| Duration | Cost | |
|---|---|---|
| Series 63 – Uniform Securities Agent State Law Exam | 1 hour and 15 minutes | $147 |
| Series 65 – Uniform Investment Adviser Law Exam | 3 hours | $187 |
| Series 66 – Uniform Combined State Law Exam | 2 hours and 30 minutes | $177 |
How much is the Series 7 exam cost?
The exam fee for the Series 7 is $245. Often the fee is covered by your sponsoring FINRA member firm – be sure to check with your sponsor.
Whats the difference between CFP and CFA?
The primary difference between a CFA and CFP is in who they work with and the type of work they do. A CFA often works with corporate clients on the investment analysis side, while a CFP works with individual investors in building a financial plan.
Can I get my Series 63 without a sponsor?
Do I need to have a sponsor before I take the Series 63, 65, or 66? No. Unsponsored candidates who are not Form U4 registered or currently affiliated with a firm through FINRA’s Web CRD system should open an exam enrollment window via FINRA.org request and pay for the S63, S65, or S66 exams.
Should I take Series 7 or 66 first?
Should I take the series 7 or 66 exam first? While you may take either exam first, we strongly recommend that you start with this Series 7 Exam. The Series 7 Exam is a much bigger test and will require significantly more study time.
Do financial advisors need CFA?
Successful financial advisors are proficient in much more than investments. In very general terms, however, the CFA designation may help those in the corporate world more than those starting their own financial planning business.
Do you need a license to be a financial advisor?
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.
Do you need a degree to take the Series 7 exam?
To take the Series 7 exam, you need a FINRA-member firm or SRO to sponsor you. There are no education requirements to sit for the Series 7 exam, although most candidates have a college degree in a finance-related field, and many choose to complete a Series 7 exam prep package prior to sitting for the exam.