📘 Series 66 for Financial Advisors – What You Should Know

The Series 66 license is a powerful credential for financial professionals who want to operate as both securities agents and investment adviser representatives. Created by NASAA and administered alongside FINRA’s Series 7, this exam streamlines registration for professionals offering comprehensive financial services under state regulation.

🎯 Purpose of the Series 66 License

The Series 66 is designed for individuals who have passed the Series 7 and wish to register as both:

• A securities agent
• An investment adviser representative (IAR)

Unlike Series 63 or 65, the Series 66 does not test product knowledge—it assumes this has already been covered in the Series 7. Instead, it focuses on laws, ethics, portfolio strategies, and advisory services.

📚 What the Series 66 Exam Covers

The Series 66 exam content is divided into four weighted sections:

1. Economic Factors and Business Information (10%)

Covers macroeconomic indicators, monetary and fiscal policy, business cycles, and valuation tools.

2. Investment Vehicle Characteristics (20%)

Focuses on types of investments including equities, fixed income, derivatives, insurance products, and alternative investments.

3. Client Investment Recommendations and Strategies (30%)

Covers portfolio construction, tax implications, risk tolerance, investment objectives, and suitability.

4. Laws, Regulations, and Guidelines (40%)

Emphasizes the Uniform Securities Act, state and federal regulation, ethical business practices, registration of firms and individuals, and fiduciary duty.

📝 Exam Format

• Total Questions: 100 scored + 10 unscored
• Time Allotted: 150 minutes
• Passing Score: 73%
• Delivery: Computer-based test at Prometric or Pearson VUE
• Prerequisite: Must be combined with a passing Series 7 license to be valid

💼 Who Should Take the Series 66?

This license is ideal for:

• Financial advisors working at broker-dealers who want to provide fee-based advisory services
• Investment professionals seeking dual registration with state securities regulators
• Candidates looking to avoid taking both the Series 63 and Series 65 separately

📈 Career Advantages

• Authorizes the professional to offer both advisory and transactional services
• Required in most U.S. states for dual registration
• Strengthens regulatory compliance and ethical standards
• Enhances client trust and professional reputation
• Increases job eligibility at major firms and RIA platforms

🛠️ Tips for Exam Success

• Start with a structured study plan that includes daily reading, video lectures, and review sessions.
• Focus on regulatory topics, which make up the largest portion of the exam.
• Take practice exams to improve time management and spot weaknesses.
• Review the Uniform Securities Act thoroughly—this is a major content area.
• Understand fiduciary duty and ethical standards—many questions involve real-world scenarios.

✅ Begin Your Series 66 Preparation Today

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