Do you need a Series 7 to be a financial advisor?

Answer 1

Technically, you don’t have to have a series 7 to work as a financial advisor.

You could start out with the Series 6. The Series 6 enables financial advisors to sell packaged securities, such as mutual funds and variable annuities (with variable annuities you also need your state life insurance license). A series 6 advisor CANNOT sell individual securities - like individual stocks or bonds.

Some advisors start by obtaining a Series 6 before moving on to the more comprehensive and difficult-to-obtain Series 7.

Having said that, the series 7 is the gold standard of financial advisor licenses. The series 7 allows an advisor to sell nearly every type of investment - with some of the few exceptions being commodities and real estate.

You must be sponsored by a member firm to take the Series 7.

Answer 2

Technically, you don’t have to have a series 7 to work as a financial advisor.

You could start out with the Series 6. The Series 6 enables financial advisors to sell packaged securities, such as mutual funds and variable annuities (with variable annuities you also need your state life insurance license). A series 6 advisor CANNOT sell individual securities - like individual stocks or bonds.

Some advisors start by obtaining a Series 6 before moving on to the more comprehensive and difficult-to-obtain Series 7.

Having said that, the series 7 is the gold standard of financial advisor licenses. The series 7 allows an advisor to sell nearly every type of investment - with some of the few exceptions being commodities and real estate.

You must be sponsored by a member firm to take the Series 7.