Because there is no meaningful regulation of titles for registered representatives of broker-dealers to distinguish them from IARs of investment advisers, your "financial advisor" candidate may not have ever passed the Series 65
, obtained the CFP designation, or otherwise become eligible to perform advisory services.
DeVore holds her NASD Series 65
license and a Behavioral Financial certification/designation
Based on our research, roughly 50 percent of the advisors have a Series 65
license and registration with a broker-dealer, allowing them to sell variable products.
Before a plan adviser can advise, he must have at least a Series 65
1,400 lf of pipe, hdpe, 24 inch, water tight, astm, advanced drainage systems n-12 series 65
Says Solomon: "The good thing about a shorter exam like the Series 51 is that it's only 60 questions and it doesn't cover as much material as other securities exams, such as the Series 7 or the Series 65
In addition to earning his Series 65
license, which allowed him to help clients as an investment advisor, he expanded into selling insurance, including Medicare plans.
Many agents earn their Series 65
or 66 investment-advisory licenses (RIA) solely with the goal of gaining the legal right to review client investments in order to source funds for annuity purchases.
In addition, most states will require an IAR to pass the Series 65
exam (or an equivalent exam).
Hirsch: Do you foresee the time when producers like yourself will need to get a Series 65
or become an RIA--Registered Investment Advisor--or IAR--Investment Advisory Representative?
Bouma also holds a BBA in finance from Western Michigan University and has his Series 7 license, his Series 63 and Series 65
licenses, as well as his Michigan life and health insurance licenses.
Recently I passed my Series 65
and I'm able to do fee-based planning, and I also got an insurance consulting license from the State of Oregon.