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FINRA Exam > Blog > Finance > Series 65 vs CFP: Which Is Better for Financial Planners?

Series 65 vs CFP: Which Is Better for Financial Planners?

  • April 1, 2025
  • Posted by: 'FINRA Exam Mastery'
  • Category: Finance
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🧾 Series 65 vs CFP: Which Is Better for Financial Planners?
📘 Choosing the Right Credential for Your Advisory Career

If you’re planning to offer financial planning or investment advice, you’ve likely considered the Series 65 license and the Certified Financial Planner (CFP) certification. While both allow you to work with clients in the financial advisory space, they serve very different purposes and fit different career paths. Here’s a full comparison to help you choose the right path.

🎯 1. Purpose and Scope

CredentialPurpose
Series 65Required license to operate as an Investment Adviser Representative (IAR) under state law.
CFPA professional certification that demonstrates expertise in financial planning across multiple disciplines.

🧠 2. Regulatory vs. Professional

  • Series 65 is a regulatory license:
    • Allows you to give investment advice for compensation.
    • Required to register with a state regulator as an IAR.
    • Often used by Registered Investment Advisers (RIAs).
  • CFP is a professional certification:
    • Demonstrates your ability to provide comprehensive financial planning, including:
      • Retirement planning
      • Insurance
      • Estate planning
      • Tax strategies
    • Awarded by the CFP Board and held to a fiduciary standard.

📚 3. Exam Content

TopicSeries 65CFP
Investment Recommendations✅ Strong emphasis✅ Moderate emphasis
Portfolio Management✅ Strong✅ Strong
Securities Regulations (USA)✅ Strong❌ Not covered
Ethics and Fiduciary Duty✅ Covered✅ Covered in depth
Tax Planning❌ Minimal✅ Major focus
Retirement & Estate Planning❌ Minimal✅ Major focus
Insurance Planning❌ Not included✅ Included in detail

📝 4. Exam Requirements

ExamRequirements
Series 65No sponsor needed. Just register and take the exam.
CFPRequires:
  • Bachelor’s degree
  • Completion of a CFP Board–approved program
  • 3 years of financial planning experience
  • Passing the CFP exam
  • Ongoing continuing education |

🧮 5. Exam Format & Pass Rate

CredentialQuestionsTimePassing ScoreApprox. Pass Rate
Series 65130180 min72% (94 correct)~65–70%
CFP~1706 hoursScaled (~60–70%)~62–65% (2023 data)

💼 6. Career Paths

Career GoalSeries 65CFP
Become an Investment Adviser (IAR)✅ Required❌ Not sufficient
Become a holistic financial planner❌ Not sufficient✅ Ideal
Launch an RIA✅ Required❌ Not a license
Work at a fee-only advisory firm✅ Often required✅ Strongly preferred
Enhance trust with clients⚠️ Modest impact✅ High credibility

📈 7. Which One Should You Choose?

Choose Series 65 if:

  • You want to register as an IAR or start an RIA.
  • You focus mostly on investment advice and portfolio management.
  • You need a license to comply with state regulations.

Choose CFP if:

  • You want to specialize in financial planning, not just investing.
  • You want to build long-term client relationships with planning depth.
  • You aim to work in high-net-worth planning, retirement strategies, or family office services.

🔄 In practice, many advisors get both.
A Series 65 to comply with regulations, and a CFP to elevate their professional status.

🚀 Conclusion: Series 65 vs CFP for Financial Planners

You Want To…Best Choice
Legally offer investment advice for a fee✅ Series 65
Be recognized as a full-scope financial planner✅ CFP
Start your own RIA✅ Series 65
Stand out with clients and build trust✅ CFP
Work at top-tier advisory firms✅ Both recommended

🎓 Need help passing your Series 65 exam?
Practice tests, concept flashcards, and study strategies are all available at
👉 https://finra-exam-mastery.com

Choose the path that aligns with your goals—and prepare like a pro!

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