When to Choose Series 66 Over 63 + 65

🧭 When to Choose Series 66 Over Series 63 + 65

If you’re aiming for a career that involves both selling securities and providing investment advice, you’ll likely need state registration. That usually means passing either Series 66 or the combination of Series 63 and Series 65. But which one is right for you?

Here’s a clear breakdown to help you decide:

✅ Choose Series 66 If:

• You already have (or will have) a Series 7 license
• You want to become both a registered representative and an investment adviser representative (IAR)
• You prefer one combined exam instead of taking two separate ones
• Your firm recommends or requires Series 66 for dual registration
• You want to meet state law requirements for both broker-dealer agents and investment adviser reps in one go

Series 66 = Series 63 + Series 65 (but shorter and more efficient when paired with Series 7)

🧾 Choose Series 63 + Series 65 If:

• You do not have Series 7 and don’t plan to get it
• You only want to register as an investment adviser representative (IAR) (Series 65 alone may be enough in this case)
• You’re working in a fee-only advisory firm (no broker-dealer affiliation)
• You’re entering the industry through the RIA-only route, not as a broker

📊 Side-by-Side Comparison

🧠 Bottom Line

• Series 66 is ideal if you’re taking the Series 7 and want streamlined registration for both BD and RIA roles.
• Series 65 (or 63 + 65) makes more sense if you’re not affiliated with a broker-dealer and want to work as an independent adviser.

📘 Need help preparing for Series 66 or Series 65?
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🎯 Choose smart. Study smart. License smart.