FINRA Licensing Requirements by Job Role

🧾 FINRA Licensing Requirements by Job Role

Whether you’re aiming to become a financial advisor, trader, compliance officer, or investment banker, FINRA licenses are required to legally perform specific job functions in the securities industry. Each role demands different licenses depending on the products sold, level of responsibility, and client interaction.

Here’s a breakdown of common job roles and the FINRA licenses typically required.

👨‍💼 1. Registered Representative (Broker)

Handles the buying and selling of securities for clients.

• Required Licenses:
  • ✅ SIE (Securities Industry Essentials)
  • ✅ Series 7 – General securities (stocks, bonds, options, funds)
  • ✅ Series 63 – State registration (required in most states)

👩‍💼 2. Investment Adviser Representative (IAR)

Provides fee-based investment advice to clients.

• Required Licenses:
  • ✅ Series 65 – Investment adviser law exam (no sponsorship required)
  • OR
  • ✅ Series 66 – Combines Series 63 + 65 (requires Series 7 as a co-requisite)

💼 3. Financial Advisor

May sell securities and/or provide investment advice depending on structure.

• Common License Combinations:
  • ✅ SIE + Series 7 + Series 66
  • OR
  • ✅ SIE + Series 6 + Series 63 (if focused on mutual funds and annuities)

📈 4. Equity or Options Trader

Executes trades on behalf of institutional or retail clients.

• Required Licenses:
  • ✅ SIE
  • ✅ Series 57 – Securities trader license
  • ✅ Series 63 or 66 – State registration, depending on jurisdiction

🏛️ 5. Investment Banker

Works on IPOs, mergers, and corporate financing.

• Required Licenses:
  • ✅ SIE
  • ✅ Series 79 – Investment banking representative
  • ✅ Series 63 or 66 – For client-facing roles

🔍 6. Compliance Officer / Principal

Supervises registered reps and ensures regulatory compliance.

• Required Licenses:
  • ✅ SIE
  • ✅ Series 24 – General securities principal
  • May also require:
    • Series 14 – Compliance Officer (for larger firms)
    • Series 4 – Options principal (if supervising options)

🛡️ 7. Operations Professional

Handles back-office functions such as trade processing and recordkeeping.

• Required License:
  • ✅ Series 99 – Operations professional (plus SIE)

📑 8. Municipal Securities Representative

Deals with municipal bond sales and advisory.

• Required Licenses:
  • ✅ SIE
  • ✅ Series 52 – Municipal securities rep
  • ✅ Series 63 – In most states

🧠 Pro Tip:

Many roles require passing the SIE first. After that, you need to be sponsored by a FINRA-member firm to register for most other licenses, with the exception of Series 65, which is open to individuals.

🚀 Start Your Licensing Journey

👉 Visit finra-exam-mastery.com to access licensing guides, exam prep tools, and step-by-step resources tailored to your desired job role in finance.