Is Series 63 Required if You Have Series 66?

📘 Is Series 63 Required if You Have Series 66?

No, if you have the Series 66 license, you do not need to take the Series 63 exam.

Here’s why:

Why Series 66 Covers Series 63:

The Series 66 exam is a combination of Series 63 (Uniform Securities Agent State Law Exam) and Series 65 (Uniform Investment Adviser Law Exam). It was designed to streamline the process for individuals who want to be both securities agents and investment advisers.

• Series 63 focuses on state securities regulations and ethics.
• Series 65 focuses on investment advice, portfolio management, and client suitability.
• Series 66 combines both of these into one exam, covering state law and investment advisory regulations.

Key Points:

• If you pass the Series 66, you are considered to have met the state registration requirements that would normally require both Series 63 and Series 65.
• You don’t need to take Series 63 separately if you already hold Series 66.
• Series 66 allows you to engage in both securities sales and investment advisory roles across most states.

Exceptions:

• Some states may still have unique state-specific requirements or additional exams, so it’s important to verify with your state’s securities regulator whether there are any extra requirements, but in general, Series 66 covers Series 63.

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