Steps
- Pick your model: commission, fee or both
Commission-based brokers work for broker-dealers; fee-based advisers work for registered investment advisers (RIAs); many advisors are dual-registered.
- Get a bachelor's degree (typical)
BLS lists a bachelor’s degree as the typical entry-level education for personal financial advisors.
- Pass the SIE (optional before hiring)
Anyone 18+ can take it without a sponsor. It shows employers you are serious and stays valid four years.
- Get hired or sponsored
The Series 7 requires a sponsoring FINRA member firm. The Series 65 does not.
- Pass the exams for your model
Broker: SIE + Series 7 + Series 63. Fee-only: Series 65. Dual: SIE + Series 7 + Series 66.
- Register and keep up CE
Your firm registers you through CRD. FINRA registrants complete annual continuing education.
- 1,706 original questions across 6 exams
- Section drills + timed full-length exams
- 12 months, one-time - emailed to you after purchase
Your course access is emailed to you after purchase. 14-day money-back guarantee. Refund policy
Licenses and cost by advisor type
| Advisor type | Exams | Exam fees | Sponsor needed? |
|---|---|---|---|
| Broker (commission) | SIE + 7 + 63 | $642 | Yes, for the 7 |
| Fee-only adviser (IAR) | 65 | $187 | No |
| Dual-registered | SIE + 7 + 66 | $672 | Yes, for the 7 |
The job, by the numbers (BLS)
Figures are for “Personal Financial Advisors” in the BLS Occupational Outlook Handbook (page updated August 27, 2026). BLS notes advisors may need a combination of licenses depending on the products they sell.
SIE to Series 66 prep course - $39
SIE, Series 6, 7, 63, 65 and 66 in one prep course: 1,706 outline-weighted practice questions with explanations, section drills and timed full-length exams. One-time payment, 12 months of access, emailed to you after purchase.
Your course access is emailed to you after purchase. 14-day money-back guarantee. Refund policy
Frequently asked questions
What licenses does a financial advisor need?
Commission-based: SIE, Series 7, and usually Series 63. Fee-based: Series 65 (or Series 66 with the Series 7).
How much does it cost to become a financial advisor?
Exam fees run from $187 (Series 65 only) to $672 (SIE + 7 + 66), before prep costs. Sponsoring firms often pay for the Series 7.
How long does it take?
The exams alone typically take 2-6 months of part-time study end to end (our estimate); a firm training program sets the pace for sponsored hires.
Do financial advisors need a degree?
The exams do not require one, but BLS lists a bachelor’s degree as the typical entry-level education.
Sources
- BLS Occupational Outlook Handbook - Personal Financial Advisors (accessed 2026-09-23)
- FINRA - Securities Industry Essentials (SIE) Exam (accessed 2026-09-23)
- FINRA - Series 7 General Securities Representative Exam (accessed 2026-09-23)
- FINRA - Series 65 Uniform Investment Adviser Law Exam (accessed 2026-09-23)
- FINRA - Series 66 Uniform Combined State Law Exam (accessed 2026-09-23)
- NASAA - Exam FAQs (accessed 2026-09-23)