Series 7 vs Series 65: Broker vs Investment Adviser
The Series 7 licenses you to sell securities as a broker; the Series 65 licenses you to give investment advice for a fee. Many professionals end up needing both, but they test very different material.
| Series 7 | Series 65 | |
|---|---|---|
| Exam body | FINRA | NASAA |
| Questions | 125 | 130 |
| Time limit | 225 min | 180 min |
| Passing score | 72% | 72% |
| Topics covered | 7 | 4 |
| AskBoudin price | $11.99/mo | $11.99/mo |
Which should you take?
They are not either/or for most careers: the Series 7 is the broker-dealer license, the Series 65 is the adviser license. If you advise for a fee, you need the 65 (or 66).
Series 7 prep
The gateway license for registered representatives. Required to sell virtually all securities products.
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Required for investment adviser representatives. No firm sponsorship needed. Gateway to fee-based advisory.
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