No. Unlike an individual seeking to take the Series 7 examination, a sponsoring registered investment advisor firm is not required for an individual to open a Series 65 examination window or actually take the Series 65 examination. When completing the Form U10, a Series 65 test candidate should mark the line requesting a sponsoring firm as “not applicable”. However, if a registered representative of a broker-dealer wants to open a Series 65 exam window, it is the understanding of RIA Compliance Consultants that the registered representative must go through his or her broker-dealer’s Web CRD account by using Form U4.
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Are there any prerequisites for taking the Series 65 examination?
November 02, 2018
No, there are no prerequisites for an individual to take the Series 65 examination.
Who needs to take the Series 65 examination?
November 02, 2018
In order for an individual to register and serve as an investment advisor representative (also known as an “IAR”) of a registered investment advisor firm (also known as an “RIA”), most state securities regulators require the individual to successfully complete the Uniform Investment Adviser Law Examination (also and more commonly referred to as the “Series 65 examination”). As discussed below, state securities regulators have certain exceptions or alternatives to the general requirement that a prospective investment advisor representative has successfully completed the Series 65 examination prior to submitting his or her registration application (the “Form U4”). Some state securities regulators also accept other professional designations in addition to those listed above as an alternative to the Series 65.
