Series 63 vs 65: Which One Comes First?

🧾 Series 63 vs 65: Which One Comes First?
📘 Choosing the Right Order Based on Your Career Goals

If you’re preparing to enter the financial services industry, understanding the difference between the Series 63 and Series 65 exams—and which to take first—is an important step. These exams qualify you for different roles under state securities law, and the order you take them depends on your job function, career path, and employer requirements.

🎯 What Is the Series 63 Exam?

The Series 63, also known as the Uniform Securities Agent State Law Exam, is required for individuals who want to sell securities (stocks, bonds, mutual funds, etc.) at the state level.

✅ Key Points:

• Required for: Anyone working as a broker-dealer representative (registered rep) in most U.S. states.
• Purpose: Tests knowledge of state securities laws, registration requirements, and anti-fraud rules.
• Often paired with: Series 6 or Series 7 (product-based licenses).

🎯 What Is the Series 65 Exam?

The Series 65, or Uniform Investment Adviser Law Exam, is required for those who want to provide investment advice for a fee—whether or not they sell products.

✅ Key Points:

• Required for: Individuals who want to act as investment adviser representatives (IARs).
• Focus: Heavily on fiduciary duty, portfolio management, economics, ethics, and client suitability.
• Standalone exam: You do not need to pass Series 6 or 7 to take Series 65.

🔄 Which Exam Should You Take First?

✔️ Take Series 63 First if:

• You’re working with a broker-dealer.
• You’ve already passed the Series 6 or 7.
• Your job focuses on selling securities rather than giving advice.

✔️ Take Series 65 First if:

• You plan to work as an independent investment adviser (RIA) or fee-based financial planner.
• You’re not working with a broker-dealer and won’t be selling securities.
• Your focus is on financial advice, not sales.

🧠 Pro Tip: You May Not Need Both

• Series 63 + Series 7 = required for broker-dealer reps
• Series 65 alone = sufficient for most investment advisers
• If you’re going for both sales and advice:
  ➤ Consider Series 7 + Series 66 (which combines 63 and 65 in one exam)

🚀 Conclusion: Let Your Role Guide You

• Sales-focused? Start with Series 63 (after Series 6 or 7).
• Advice-focused? Go with Series 65.
• Still unsure? Ask your firm or look at your target job description—it will specify licensing requirements.

🎓 Need study guides, comparisons, or simulations?
Get expert-designed prep for Series 63, 65, and 66 at:
👉 https://finra-exam-mastery.com

Choose your exam path smart. Prepare with purpose. Pass with confidence.