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Financial Advisor Certification Requirements

Financial Advisor reviewing their certification requirements.
Get all the information you need to know about the different Financial Advisor certification exams

Explore Your Options for Achieving Financial Advisor Education Requirements and Certification

Enhance your professional value and reputation by pursuing certification and licensure exams to be a Financial Advisor. Choosing the right certifications or licensing exams will depend on your short-and long-term professional goals. Most aspiring Financial Advisors will pursue several tests.

At the Financial Advisor Training Institute, we provide you with the tools and techniques to meet certification requirements and help you find success in the industry. Our accelerated, online certificate course prepares you for some of the most common licensing exams.

Required Financial Advisor Licenses Overview

You might wonder: What are the Series 66, the Series 7 registrations, and the other licenses? Learn more about the licenses our graduates obtain in the following order.

Life and Health Insurance

While the use of insurance products by many Financial Advisors can vary greatly, state timeframes to formally register you varies. To accommodate, this is the first license you will obtain.

To sell or implement insurance products, your Financial Advisor’s education requirements will include a state insurance license exam. Good news! FATI graduates have a 94.7% first-time pass rate on these state licensing exams.

  • You’ll need to learn more about insurance products and state procedures prior to taking an exam to be a Financial Advisor who can also work with insurance products. While rules and regulations vary by state, once you’ve passed your state-specific licensing exam, you will be able to work on behalf of an insurance company or sell its products.

Securities Industry Essentials

Securities Industry Essentials (SIE) is the first securities exam you will encounter as you work through your Financial Advisory Certification requirements and pursue a license for a financial advising career. Administered by the Financial Industry Regulatory Authority (FINRA), the SIE tests your basic understanding of financial products, industry terminology, laws and regulations, markets, and their functions, among other topics.

You’ll need a passing score of 70% on this 85-question, multiple-choice exam. This is where graduates of the Financial Advisor Training Institute shine. Our graduates have a 90% first-attempt pass rate, which is well above the average first-time pass rate of 74%, according to the FINRA.

Before you learn more about what is a Series 7 license and other certifications, you must pass the SIE exam to pursue a license for Financial Advisors. At the Financial Advisor Training Institute, we have a proven track record of helping aspiring Financial Advisors reach their professional goals and secure a license.

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Series 7

Once you’ve successfully completed the SIE Financial Advisor education requirements, your next step will be to take the Series 7 exam. So, what is a Series 7 license?

Known as the most challenging license for Financial Advisors to attain, the Series 7 is administered by FINRA. It will not only test you on what you know about general securities but also measure your readiness to sell complex financial products.

The Series 7 exam requires that all test takers have sponsorship. We provide you with sponsorship so you can easily meet education requirements.

To attain the requirements for a Series 7 license, you will need to get at least 72% of the 125 multiple-choice questions correct. If you’re successful, you’ll gain the ability to sell bonds, futures, individual stocks, options, and packaged securities.

  • While FINRA last reported that the Series 7 first-time pass rate was 71%, graduates of the Financial Advisor Training Institute have a first-time pass rate of 85% on the Series 7 licensing exam. Financial Advisor Training Institute expert faculty members have a well-respected history of getting you ready for licensure exams, as well as rewarding careers as Financial Advisors.

Series 66

Now that you know more about what is a Series 7 license, the next exam you’ll want to consider is the Series 66 exam. So, what is a Series 66 license?

The Series 66 exam is also administered by FINRA and covers a range of topics — from investment vehicle characteristics to economic factors, laws, and regulations to unethical business practices and much more. You will need to get at least 73 questions — out of 100 — correct in 150 minutes or less to successfully earn a Series 66 license.

So, what is a Series 66 license pass rate? It varies from state to state, but at the Financial Advisor Training Institute, our graduates have an 88% first-time pass rate. Once you have successfully passed both the Series 7 and Series 66 exams, you’ll be able to register as a Financial Advisor in your home state.

To be used as a co-requisite of the Series 7, it also must be sponsored by a firm and we provide that sponsorship as well.

Gain the Certification Requirements You Need at the Financial Advisor Training Institute

Become a Financial Advisor in as little as 14 weeks* through FATI’s online, accelerated coursework. We offer an established, online course that prepares you to meet Financial Advisor education requirements. You’ll gain industry insights, plus the knowledge and skills that set you up to join this rewarding profession.

When you complete our certificate course and pass the necessary licensing exams, you’ll have guaranteed career placement with one of our more than 50 Financial firms or broker-dealers. Why pursue Financial Advisor certification requirements anywhere else? The Financial Advisor Training Institute has the expertise and proven results you need to succeed.

Is a Rewarding Career as a Financial Advisor Right For You? Get More Info…

If you’re interested in learning more about a career as a Financial Advisor and exploring whether the Financial Advisor Training Institute is right for you, fill out the form on this page to receive more information.

For immediate questions, call 313-637-6643.

Frequently Asked Questions

What is a Series 7 license, and why is it important for Financial Advisors?

The Series 7 license is a test that individuals must pass to become registered representatives of broker-dealers in the United States. A Financial Advisor must have a Series 7 license to sell most types of securities, including stocks, bonds, mutual funds, and options. It’s a legal requirement for those who engage in the purchase and sale of securities.

How do you get your Series 7 license?

Obtaining your Series 7 license involves several steps, as outlined by the Financial Industry Regulatory Authority (FINRA):

  • Secure Sponsorship: To take the Series 7 exam, you must be sponsored by a FINRA member firm or a self-regulatory organization (SRO).
  • Pass the Securities Industry Essentials (SIE) Exam: Before or after taking the Series 7 exam, you must also pass the SIE exam, which is a co-requisite exam that assesses a candidate’s basic knowledge of the securities industry.
  • Register for the Series 7 Exam: Your sponsoring firm will help you register for the Series 7 exam by filing a Form U4 (Uniform Application for Securities Industry Registration or Transfer) or by using the FINRA Firm Gateway, which is an online compliance tool.
  • Prepare for the Exam: The Series 7 exam is a challenging test that covers a broad range of topics, including equity and debt instruments, investment risk, tax laws, and retirement planning. Most candidates spend a significant amount of time studying for the exam, often using study materials and prep courses designed specifically for the Series 7.
  • Take the Exam: The Series 7 exam is a 3-hour and 45-minute test consisting of 125 multiple-choice questions. The exam is administered at Prometric testing centers, and you must score at least 72% to pass.

What are the steps to prepare for the Financial Advisor license exam?

Preparing for the Financial Advisor license exam, such as the Series 7 or Series 66 exam, involves several steps:

  • Understand the Exam Structure and Content
  • Create a Study Plan
  • Use Study Materials
  • Take Practice Exams
  • Participate in a Review Course
  • Review Frequently

Preparing for a Financial Advisor license exam requires a significant time commitment. It’s important to start studying well in advance of your exam date and to stay consistent with your study schedule.

What licensing exams are required to become a Financial Advisor?

The licensing exams required to become a Financial Advisor depend on the specific services you plan to offer. Some of the common licenses and the corresponding exams include:

  • Series 7 – General Securities Representative Exam
  • Series 63 – Uniform Securities Agent State Law Exam
  • Series 65 – Uniform Investment Adviser Law Exam
  • Series 66 – Uniform Combined State Law Exam
  • Insurance Licenses

In addition to these licenses, many Financial Advisors choose to earn professional certifications, such as the Certified Financial Planner (CFP) certification, which requires passing an exam and meeting other education and experience requirements.

How does the Financial Advisor Training Institute help you pass licensing exams?

Upon completion of the Financial Advisor course at FATI, you will be fully prepared and eligible to sit for the certification and licensing exams. Our graduates have a nearly 95% pass rate on the life and health insurance licensure exam and a 90% pass rate on the SIE exam. We will pay for you to take the first sitting of any financial exam.

*Course length when completed in normal time.