Series 63 for Multistate Advisory Roles
- April 1, 2025
- Posted by: 'FINRA Exam Mastery'
- Category: Finance
🌐 Series 63 for Multistate Advisory Roles
Financial professionals who serve clients across state lines need to understand the vital role the Series 63 license plays in multistate advisory work. Whether you’re working for a national broker-dealer or providing investment advice to clients in multiple jurisdictions, the Series 63 ensures you’re legally registered to conduct business in every state that requires it.
📘 What Is the Series 63?
The Series 63 exam—formally known as the Uniform Securities Agent State Law Examination—is administered by FINRA on behalf of NASAA (North American Securities Administrators Association). It is designed to ensure that registered representatives understand state securities laws, also known as Blue Sky Laws.
While Series 7 covers products and client suitability, Series 63 is required for agents to lawfully transact securities business in most U.S. states.
🧭 Why It’s Essential for Multistate Advisors
✅ You must be registered in every state where you:
- Solicit securities business
- Maintain clients
- Conduct advisory services through a broker-dealer
Without Series 63, you are not legally authorized to operate in states that require it—even if you hold a Series 7 license.
🔄 How Series 63 Works with Other Licenses
| License | Role | Federal/State Scope | Needed For |
|---|---|---|---|
| Series 7 | Product knowledge | Federal | Selling securities |
| Series 63 | State law compliance | State | Registering as an agent in most states |
| Series 65 | Investment adviser | State | Fee-based advice (no broker-dealer affiliation) |
| Series 66 | Combo of 63 + 65 | State | Dual registration (requires Series 7) |
For representatives who sell securities and serve clients across multiple states, the Series 63 is a foundational requirement.
📝 Key Exam Content Areas
The Series 63 exam is 60 multiple-choice questions (plus 5 unscored), and focuses on:
- State securities registration procedures
- Agent and broker-dealer registration rules
- Exempt securities and transactions
- Anti-fraud provisions
- Administrative authority of state regulators
You must score 72% or higher to pass. The exam costs $147 and lasts 75 minutes.
🧠 Tips for Multistate Compliance
- Track state-specific rules: Some states have unique interpretations of the Uniform Securities Act
- Know when registration is required: Even one client may trigger the need to register
- Monitor exemptions: Institutional clients and de minimis exemptions vary
- Stay updated: Regulations shift—especially around solicitation and digital communication
✅ Become Multistate Ready
Don’t risk fines, regulatory issues, or client loss. Our full Series 63 course is designed for advisors managing clients across state lines. Learn state registration rules, exam-tested legal principles, and practical compliance skills—step by step.
Start your training today at finra-exam-mastery.com