How to Combine FINRA Licenses for Maximum Flexibility
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
🔗 How to Combine FINRA Licenses for Maximum Flexibility
In the financial services industry, combining FINRA licenses strategically can unlock broader product offerings, open more career paths, and position you for leadership roles. The right combination allows you to sell various securities, provide investment advice, and supervise other professionals—all while staying compliant with regulatory expectations.
Here’s how to combine key FINRA and NASAA licenses to maximize your professional flexibility.
📘 Core Building Blocks
| License | Purpose | Scope |
|---|---|---|
| SIE (Securities Industry Essentials) | Required for all registered reps | Covers industry basics—must be paired with a representative-level license |
| Series 6 | Limited Representative | Mutual funds, variable annuities, insurance-related products |
| Series 7 | General Securities Representative | Stocks, bonds, options, mutual funds, ETFs, DPPs, more |
| Series 63 | State Law Exam | Required to sell securities in most U.S. states |
| Series 65 | Investment Adviser Representative | Fee-based advice (no selling of products) |
| Series 66 | Combined State Law + Advisory | Merges Series 63 & 65; requires Series 7 |
| Series 24 | General Securities Principal | Supervision of reps and broker-dealer operations |
🧠 Smart License Combinations by Career Path
💼 1. Full-Service Financial Advisor
- SIE + Series 7 + Series 66
- Sell all securities products
- Provide fee-based investment advice
- Compliant with state registration rules
- Dual registration: commission + advisory model
🧾 2. Fee-Only Investment Adviser
- SIE + Series 65
- Provide portfolio management, financial planning
- Charge fees (hourly, flat, or AUM-based)
- No product sales or broker-dealer affiliation required
🏢 3. Bank/Insurance-Based Representative
- SIE + Series 6 + Series 63
- Sell mutual funds, 529 plans, annuities
- Often paired with life/health insurance license
- Ideal for retail banking and insurance firm environments
🧑💼 4. Supervisor / OSJ Manager
- SIE + Series 7 + Series 24 + Series 63/66
- Supervise registered reps and firm operations
- Oversee communications, trade reviews, customer complaints
- Qualify as a General Securities Principal
🔀 When to Choose Series 66 vs. Series 63 + 65
| Situation | Best Option |
|---|---|
| You already have Series 7 | ✅ Take Series 66 to avoid two separate exams |
| You don’t plan to take Series 7 | ✅ Take Series 65 (advisory) and 63 (if needed for state law) |
| You want advisory authority only | ✅ Take Series 65 |
| You want to sell + advise | ✅ Series 7 + 66 combo |
📌 Tips to Maximize Flexibility
- Always pair state law exams (63/66) with a product license (6 or 7) unless you’re only advising
- Use Series 24 to unlock supervisory roles and firm leadership opportunities
- For dual-licensed roles, keep CE (continuing education) for each license up to date
- Consider licensing across states if you work with out-of-state clients
🚀 Build Your Ideal License Stack
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👉 finra-exam-mastery.com
✔ Lifetime access to prep for Series 6, 7, 63, 65, 66, 24
✔ Designed for career transitions, upgrades, and compliance managers
✔ Smart license paths for financial advisors, RIAs, and firm leaders
Combine your licenses. Expand your reach. Take charge of your career.