Series 6 vs Series 63: Do You Need Both?
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
🧾 Series 6 vs Series 63: Do You Need Both?
📘 Understanding the Purpose of Each License and Whether You Need Both for Your Career
If you’re starting a career in the financial services industry, you’ve probably come across the Series 6 and Series 63 exams. While they serve different purposes, both are often required for professionals in securities sales. Here’s a breakdown of what each license covers and when you’ll need both.
🎯 1. What Is the Series 6 License?
The Series 6, officially called the Investment Company and Variable Contracts Products Representative Exam, is administered by FINRA. It allows you to sell certain packaged investment products, such as:
- Mutual funds
- Variable annuities
- Unit investment trusts (UITs)
- Municipal fund securities (e.g., 529 plans)
✅ You can’t sell:
- Individual stocks or bonds
- Options
- Direct participation programs (DPPs)
🎯 2. What Is the Series 63 License?
The Series 63, or the Uniform Securities Agent State Law Exam, is administered by NASAA and required by most states. It focuses on:
- State securities regulations
- Registration requirements
- Fiduciary duties
- Anti-fraud provisions
The Series 63 is needed to legally sell securities within a state, even if you already have a Series 6 or 7.
🎯 3. Series 6 vs Series 63 – Key Differences
| Aspect | Series 6 | Series 63 |
|---|---|---|
| Administered By | FINRA | NASAA |
| Purpose | Authorizes product sales | Authorizes sales activity within a state |
| Products Covered | Mutual funds, variable annuities, UITs | None (not product-based) |
| Focus | Product knowledge, suitability | State laws, ethics, fraud, registration |
| Needed For | Selling packaged securities | Working with clients in most U.S. states |
| Prerequisite | SIE Exam | No SIE required, but usually taken with S6/S7 |
🎯 4. Do You Need Both?
✅ YES — You usually need both Series 6 and Series 63 if:
- You plan to sell mutual funds or variable products to retail clients.
- You work for a broker-dealer that operates across multiple states.
- Your firm requires you to be registered at both the federal and state level.
❌ NO — You might not need both if:
- You are not selling securities in a state that requires the Series 63 (though most do).
- You are working in a support role with no client interaction or sales duties.
- You plan to get the Series 65 or Series 7 instead, which may meet different licensing requirements.
🎯 5. Career Scenarios That Require Both
| Job Role | Requires Series 6 | Requires Series 63 |
|---|---|---|
| Mutual fund salesperson | ✅ Yes | ✅ Yes |
| Variable annuity representative | ✅ Yes | ✅ Yes |
| 529 college plan specialist | ✅ Yes | ✅ Yes |
| Insurance agent selling only insurance | ❌ No | ❌ No |
| Investment adviser (fee-only) | ❌ No | ❌ No (needs Series 65) |
🚀 Conclusion: Most Financial Sales Professionals Need Both
If your career involves selling mutual funds, variable annuities, or other packaged investment products, and you’re working directly with clients in more than one state, you’ll likely need both Series 6 and Series 63 licenses.
🎓 Need help passing Series 6 or Series 63?
Access expert-led study guides, practice tests, and flashcards at
👉 https://finra-exam-mastery.com
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